Perimeter Solutions (NYSE:PRM) Price Target Raised to $25.00

Key Points

• Morgan Stanley has raised Perimeter Solutions' price target from $17.00 to $25.00, indicating a potential upside of 23.97% from the current price, while maintaining an "overweight" rating on the stock.
• Perimeter Solutions reported an EPS of $0.39 for the last quarter, exceeding analyst expectations of $0.28, alongside a significant revenue of $162.64 million.
• Institutional investors hold 89.93% of Perimeter Solutions' stock, with some firms notably increasing their stakes in the company during the second quarter.

Perimeter Solutions (NYSE:PRM - Get Free Report) had its price target hoisted by investment analysts at Morgan Stanley from $17.00 to $25.00 in a research note issued to investors on Monday,Benzinga reports. The firm currently has an "overweight" rating on the stock. Morgan Stanley's target price would indicate a potential upside of 23.97% from the company's current price.

A number of other research firms have also issued reports on PRM. Wall Street Zen lowered Perimeter Solutions from a "buy" rating to a "hold" rating in a research report on Sunday, July 20th. UBS Group boosted their price target on shares of Perimeter Solutions from $15.00 to $20.00 and gave the stock a "buy" rating in a research note on Wednesday, July 9th. Two analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company currently has an average rating of "Buy" and an average price target of $22.50.

Perimeter Solutions Trading Up 3.5%

PRM traded up $0.6860 on Monday, reaching $20.1660. 193,375 shares of the company traded hands, compared to its average volume of 1,142,890. The company has a quick ratio of 2.60, a current ratio of 4.04 and a debt-to-equity ratio of 0.57. Perimeter Solutions has a one year low of $8.76 and a one year high of $20.19. The firm has a fifty day simple moving average of $16.11 and a two-hundred day simple moving average of $12.62. The company has a market cap of $2.95 billion, a P/E ratio of 46.83 and a beta of 1.96.

Perimeter Solutions (NYSE:PRM - Get Free Report) last announced its earnings results on Thursday, August 7th. The company reported $0.39 EPS for the quarter, topping analysts' consensus estimates of $0.28 by $0.11. The business had revenue of $162.64 million during the quarter, compared to the consensus estimate of $108.91 million. Perimeter Solutions had a net margin of 13.05% and a negative return on equity of 1.11%. As a group, equities research analysts expect that Perimeter Solutions will post 0.71 earnings per share for the current year.

Insider Transactions at Perimeter Solutions

In related news, major shareholder Windacre Partnership Master Fu acquired 254,600 shares of the company's stock in a transaction dated Friday, June 27th. The stock was purchased at an average price of $13.98 per share, with a total value of $3,559,308.00. Following the completion of the purchase, the insider owned 21,854,600 shares in the company, valued at $305,527,308. This trade represents a 1.18% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 10.00% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Perimeter Solutions

Several institutional investors have recently made changes to their positions in PRM. Tower Research Capital LLC TRC grew its stake in shares of Perimeter Solutions by 58.3% during the 2nd quarter. Tower Research Capital LLC TRC now owns 14,208 shares of the company's stock valued at $198,000 after acquiring an additional 5,233 shares during the period. Tidal Investments LLC bought a new stake in Perimeter Solutions during the 2nd quarter valued at approximately $144,000. Skye Global Management LP raised its stake in Perimeter Solutions by 485.2% during the 2nd quarter. Skye Global Management LP now owns 614,500 shares of the company's stock valued at $8,554,000 after purchasing an additional 509,500 shares during the period. Orion Porfolio Solutions LLC bought a new stake in Perimeter Solutions during the 2nd quarter valued at approximately $202,000. Finally, Lazard Asset Management LLC boosted its stake in Perimeter Solutions by 102,096.0% during the second quarter. Lazard Asset Management LLC now owns 283,083 shares of the company's stock valued at $3,940,000 after buying an additional 282,806 shares during the last quarter. Institutional investors 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.

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