Perimeter Solutions (NYSE:PRM) Raised to Buy at Wall Street Zen

Perimeter Solutions (NYSE:PRM - Get Free Report) was upgraded by equities researchers at Wall Street Zen from a "hold" rating to a "buy" rating in a research note issued to investors on Saturday.

PRM has been the subject of a number of other reports. Morgan Stanley reduced their target price on shares of 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 boosted their price target on Perimeter Solutions from $15.00 to $20.00 and gave the stock a "buy" rating in a research note on Wednesday, July 9th.

Perimeter Solutions Stock Performance

NYSE:PRM traded down $0.45 on Friday, hitting $16.26. The stock had a trading volume of 870,166 shares, compared to its average volume of 1,007,774. The stock has a market cap of $2.40 billion, a price-to-earnings ratio of 20.58 and a beta of 1.95. The company has a quick ratio of 3.56, a current ratio of 5.23 and a debt-to-equity ratio of 0.55. The business's 50-day simple moving average is $13.02 and its two-hundred day simple moving average is $11.69. Perimeter Solutions has a 52-week low of $7.83 and a 52-week high of $16.91.

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

Insider Transactions at Perimeter Solutions

In other Perimeter Solutions news, major shareholder Windacre Partnership Master Fu purchased 254,600 shares of the firm's stock in a transaction that occurred on Friday, June 27th. The shares were purchased at an average cost of $13.98 per share, for a total transaction of $3,559,308.00. Following the completion of the purchase, the insider directly owned 21,854,600 shares in the company, valued at $305,527,308. This represents a 1.18% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Vivek Raj sold 32,000 shares of Perimeter Solutions stock in a transaction that occurred on Wednesday, May 21st. The shares were 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 disclosure for this sale can be found here. Insiders sold a total of 303,094 shares of company stock worth $3,587,021 in the last ninety days. 10.00% of the stock is owned by corporate insiders.

Institutional Trading of Perimeter Solutions

Institutional investors have recently bought and sold shares of the company. Comerica Bank purchased a new stake in shares of Perimeter Solutions in the fourth quarter valued at $38,000. Harbor Investment Advisory LLC lifted its position in shares of Perimeter Solutions by 25.6% in the first quarter. Harbor Investment Advisory LLC now owns 9,315 shares of the company's stock valued at $94,000 after acquiring an additional 1,899 shares in the last quarter. Xponance Inc. purchased a new stake in shares of Perimeter Solutions in the first quarter valued at $101,000. Gilbert & Cook Inc. purchased a new stake in shares of Perimeter Solutions in the first quarter valued at $104,000. Finally, New York State Teachers Retirement System purchased a new stake in shares of Perimeter Solutions in the first quarter valued at $123,000. 89.93% of the stock is currently owned by hedge funds and other institutional investors.

About Perimeter Solutions

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.