Perimeter Solutions (NYSE:PRM) Price Target Raised to $20.00 at UBS Group

Perimeter Solutions (NYSE:PRM - Free Report) had its target price upped by UBS Group from $15.00 to $20.00 in a report published on Wednesday morning,Benzinga reports. They currently have a buy rating on the stock.

Other analysts have also issued research reports about the company. Morgan Stanley lowered their target price on Perimeter Solutions from $18.00 to $17.00 and set an "overweight" rating on the stock in a report on Friday, May 16th. Wall Street Zen lowered Perimeter Solutions from a "buy" rating to a "hold" rating in a research note on Thursday, May 22nd.

Perimeter Solutions Price Performance

Shares of Perimeter Solutions stock traded down $0.08 during trading on Wednesday, reaching $16.22. The company's stock had a trading volume of 923,496 shares, compared to its average volume of 1,007,261. The company has a quick ratio of 3.56, a current ratio of 5.23 and a debt-to-equity ratio of 0.55. Perimeter Solutions has a 12-month low of $7.83 and a 12-month high of $16.33. The company has a market capitalization of $2.40 billion, a P/E ratio of 20.53 and a beta of 1.95. The business has a 50 day moving average price of $13.02 and a 200-day moving average price of $11.71.

Perimeter Solutions (NYSE:PRM - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The company reported $0.03 earnings per share for the quarter, beating analysts' consensus estimates of ($0.09) by $0.12. Perimeter Solutions had a negative return on equity of 4.33% and a net margin of 23.23%. The firm had revenue of $72.03 million for the quarter, compared to the consensus estimate of $75.00 million. As a group, sell-side analysts anticipate that Perimeter Solutions will post 0.71 EPS for the current year.

Insider Transactions at Perimeter Solutions

In other news, Director Vivek Raj sold 32,000 shares of the stock in a transaction dated Wednesday, May 21st. The stock was sold at an average price of $11.70, for a total value of $374,400.00. Following the completion of the sale, the director owned 68,132 shares in the company, valued at approximately $797,144.40. This trade represents a 31.96% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Windacre Partnership Master Fu bought 254,600 shares of the stock in a transaction dated Friday, June 27th. The stock was bought at an average price of $13.98 per share, with a total value of $3,559,308.00. Following the purchase, the insider owned 21,854,600 shares of the company's stock, valued at approximately $305,527,308. This represents a 1.18% increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders sold 303,094 shares of company stock valued at $3,587,021. Insiders own 10.00% of the company's stock.

Institutional Investors Weigh In On Perimeter Solutions

A number of hedge funds have recently bought and sold shares of PRM. Comerica Bank acquired a new stake in Perimeter Solutions during the 4th quarter valued at approximately $38,000. Harbor Investment Advisory LLC grew its stake in Perimeter Solutions by 25.6% during the 1st quarter. Harbor Investment Advisory LLC now owns 9,315 shares of the company's stock valued at $94,000 after purchasing an additional 1,899 shares in the last quarter. Xponance Inc. acquired a new stake in Perimeter Solutions during the 1st quarter valued at approximately $101,000. Gilbert & Cook Inc. acquired a new stake in Perimeter Solutions during the 1st quarter valued at approximately $104,000. Finally, New York State Teachers Retirement System acquired a new stake in Perimeter Solutions during the 1st quarter valued at approximately $123,000. Institutional investors and hedge funds own 89.93% of the company's stock.

Perimeter Solutions Company Profile

Perimeter Solutions, SA manufactures and supplies firefighting products and lubricant additives in the United States, Germany, and internationally. It operates in two segments, Fire Safety and Specialty Products. The Fire Safety segment provides fire retardants and firefighting foams, as well as specialized equipment and services for federal, state, provincial, local/municipal, and commercial customers.