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

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

Several other equities research analysts also recently issued reports on the stock. UBS Group boosted their price objective on shares of Perimeter Solutions from $15.00 to $20.00 and gave the stock a "buy" rating in a research note on Wednesday. Morgan Stanley decreased 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 report on Friday, May 16th.

Perimeter Solutions Price Performance

PRM stock opened at $16.22 on Friday. The stock has a 50-day moving average price of $13.02 and a two-hundred day moving average price of $11.71. Perimeter Solutions has a 12-month low of $7.83 and a 12-month high of $16.33. 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 has a market cap of $2.40 billion, a PE ratio of 20.53 and a beta of 1.95.

Perimeter Solutions (NYSE:PRM - Get Free Report) last issued its earnings results on Thursday, May 8th. The company reported $0.03 earnings per share (EPS) for the quarter, topping 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 business had revenue of $72.03 million during the quarter, compared to analysts' expectations of $75.00 million. As a group, research analysts predict that Perimeter Solutions will post 0.71 EPS for the current year.

Insider Buying and Selling

In related news, major shareholder Windacre Partnership Master Fu purchased 254,600 shares of the firm's stock in a transaction on Friday, June 27th. The stock was purchased at an average price of $13.98 per share, for a total transaction of $3,559,308.00. Following the acquisition, the insider directly 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 acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Vivek Raj sold 100,000 shares of the company's stock in a transaction on 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 transaction, the director owned 168,942 shares of the company's stock, valued at $1,990,136.76. This trade represents a 37.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 303,094 shares of company stock valued at $3,587,021. 10.00% of the stock is owned by company insiders.

Hedge Funds Weigh In On Perimeter Solutions

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PRM. Comerica Bank purchased a new position in Perimeter Solutions in the fourth quarter valued at about $38,000. Harbor Investment Advisory LLC boosted its stake in shares of 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 buying an additional 1,899 shares during the last quarter. Xponance Inc. purchased a new position in shares of Perimeter Solutions during the 1st quarter valued at approximately $101,000. Gilbert & Cook Inc. purchased a new position in shares of Perimeter Solutions during the 1st quarter valued at approximately $104,000. Finally, Quantinno Capital Management LP purchased a new position in shares of Perimeter Solutions during the 4th quarter valued at approximately $136,000. 89.93% of the stock is 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.

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