Perimeter Solutions (NYSE:PRM) Downgraded to Hold Rating by Wall Street Zen

Wall Street Zen cut shares of Perimeter Solutions (NYSE:PRM - Free Report) from a buy rating to a hold rating in a research report report published on Sunday morning.

Several other research analysts have also commented on the company. Morgan Stanley cut their price objective on Perimeter Solutions from $18.00 to $17.00 and set an "overweight" rating for the company in a report on Friday, May 16th. UBS Group increased their price target on shares of Perimeter Solutions from $15.00 to $20.00 and gave the stock a "buy" rating in a report on Wednesday, July 9th.

Perimeter Solutions Price Performance

Shares of Perimeter Solutions stock traded up $0.17 on Friday, reaching $16.96. The stock had a trading volume of 852,617 shares, compared to its average volume of 1,021,538. The business's 50 day moving average is $13.80 and its two-hundred day moving average is $11.89. The company has a market cap of $2.50 billion, a P/E ratio of 21.46 and a beta of 1.95. Perimeter Solutions has a 1 year low of $8.26 and a 1 year high of $17.40. The company has a current ratio of 5.23, a quick ratio of 3.56 and a debt-to-equity ratio of 0.55.

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

Insider Activity

In other Perimeter Solutions news, Director Vivek Raj sold 100,000 shares of the company's 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 directly owned 168,942 shares in the company, valued at $1,990,136.76. This represents a 37.18% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, major shareholder Windacre Partnership Master Fu purchased 254,600 shares of Perimeter Solutions stock in a transaction that occurred on Friday, June 27th. The shares were bought at an average price of $13.98 per share, for a total transaction of $3,559,308.00. Following the completion of the transaction, the insider owned 21,854,600 shares in the company, valued at $305,527,308. The trade was a 1.18% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold a total of 303,094 shares of company stock worth $3,587,021 over the last quarter. Corporate insiders own 10.00% of the company's stock.

Hedge Funds Weigh In On Perimeter Solutions

Several hedge funds have recently made changes to their positions in the business. Principal Financial Group Inc. grew its position in shares of Perimeter Solutions by 2.0% in the 1st quarter. Principal Financial Group Inc. now owns 10,912,291 shares of the company's stock worth $109,887,000 after buying an additional 218,002 shares during the period. Vanguard Group Inc. grew its holdings in Perimeter Solutions by 1.8% in the first quarter. Vanguard Group Inc. now owns 8,358,929 shares of the company's stock worth $84,174,000 after purchasing an additional 147,336 shares during the period. JPMorgan Chase & Co. grew its holdings in Perimeter Solutions by 19.9% in the fourth quarter. JPMorgan Chase & Co. now owns 5,856,611 shares of the company's stock worth $74,847,000 after purchasing an additional 971,623 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Perimeter Solutions by 22.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,113,380 shares of the company's stock valued at $39,789,000 after purchasing an additional 579,987 shares in the last quarter. Finally, Janus Henderson Group PLC raised its stake in Perimeter Solutions by 12.1% during the fourth quarter. Janus Henderson Group PLC now owns 3,025,390 shares of the company's stock valued at $38,664,000 after buying an additional 327,210 shares during the last quarter. 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.