UBS Group Forecasts Strong Price Appreciation for Perimeter Solutions (NYSE:PRM) Stock

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

Several other equities analysts also recently commented on PRM. Wall Street Zen downgraded shares of Perimeter Solutions from a "buy" rating to a "hold" rating in a research note on Thursday, May 22nd. Morgan Stanley dropped their price target on shares of Perimeter Solutions from $18.00 to $17.00 and set an "overweight" rating for the company in a research note on Friday, May 16th.

Perimeter Solutions Trading Up 2.6%

Perimeter Solutions stock traded up $0.41 during trading on Wednesday, hitting $16.32. The company had a trading volume of 1,349,319 shares, compared to its average volume of 1,004,436. Perimeter Solutions has a 1-year low of $7.63 and a 1-year high of $16.32. The company has a current ratio of 5.23, a quick ratio of 3.56 and a debt-to-equity ratio of 0.55. The company's 50 day simple moving average is $12.78 and its 200-day simple moving average is $11.67. The stock has a market cap of $2.41 billion, a price-to-earnings ratio of 20.66 and a beta of 1.95.

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

Insiders Place Their Bets

In other news, Director Vivek Raj sold 100,000 shares of the stock in a transaction dated Monday, May 19th. The shares were sold at an average price of $11.78, for a total transaction of $1,178,000.00. Following the completion of the sale, the director owned 168,942 shares in the company, valued at approximately $1,990,136.76. This represents a 37.18% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Windacre Partnership Master Fu purchased 254,600 shares of the business's stock in a transaction that occurred on Friday, June 27th. The shares were purchased at an average cost of $13.98 per share, with a total value of $3,559,308.00. Following the completion of the acquisition, the insider directly owned 21,854,600 shares of the company's stock, valued at $305,527,308. This represents a 1.18% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders have sold 303,094 shares of company stock valued at $3,587,021. Insiders own 10.00% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Lingohr Asset Management GmbH purchased a new position in Perimeter Solutions during the second quarter worth about $221,000. Strs Ohio purchased a new position in Perimeter Solutions during the first quarter worth about $328,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in Perimeter Solutions by 4.8% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 328,188 shares of the company's stock worth $3,305,000 after purchasing an additional 14,949 shares in the last quarter. TenCore Partners LP purchased a new position in Perimeter Solutions during the first quarter worth about $3,174,000. Finally, Repertoire Partners LP purchased a new position in Perimeter Solutions in the first quarter valued at about $519,000. 89.93% of the stock is owned by hedge funds and other institutional investors.

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.