Perimeter Solutions (NYSE:PRM) Lowered to Hold Rating by Zacks Research

Perimeter Solutions (NYSE:PRM) was downgraded by equities researchers at Zacks Research from a “strong-buy” rating to a “hold” rating in a report released on Wednesday,Zacks.com reports.

Other analysts also recently issued research reports about the company. UBS Group increased their target price on Perimeter Solutions from $21.00 to $25.00 and gave the company a “buy” rating in a research note on Tuesday, September 30th. Weiss Ratings reissued a “hold (c-)” rating on shares of Perimeter Solutions in a research report on Wednesday, October 8th. Finally, Morgan Stanley set a $35.00 price objective on shares of Perimeter Solutions in a research note on Monday. Two analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $30.00.

Perimeter Solutions Stock Performance

NYSE:PRM opened at $27.75 on Wednesday. The firm has a market capitalization of $4.10 billion, a PE ratio of 66.07 and a beta of 1.96. Perimeter Solutions has a 1 year low of $8.76 and a 1 year high of $29.78. The company has a current ratio of 2.22, a quick ratio of 1.72 and a debt-to-equity ratio of 0.61. The firm’s fifty day simple moving average is $25.31 and its 200 day simple moving average is $20.48.

Perimeter Solutions (NYSE:PRM) last released its earnings results on Thursday, October 30th. The company reported $0.82 earnings per share for the quarter, topping analysts’ consensus estimates of $0.68 by $0.14. The firm had revenue of $315.44 million during the quarter, compared to analyst estimates of $238.27 million. Perimeter Solutions had a net margin of 12.26% and a return on equity of 17.33%. On average, sell-side analysts anticipate that Perimeter Solutions will post 0.71 EPS for the current year.

Insider Activity at Perimeter Solutions

In related news, CFO Kyle Sable sold 100,000 shares of the firm’s stock in a transaction on Friday, December 12th. The stock was sold at an average price of $28.47, for a total value of $2,847,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 10.00% of the company’s stock.

Hedge Funds Weigh In On Perimeter Solutions

A number of hedge funds have recently made changes to their positions in the business. Jones Financial Companies Lllp bought a new position in shares of Perimeter Solutions during the 3rd quarter worth about $27,000. EverSource Wealth Advisors LLC acquired a new position in Perimeter Solutions in the second quarter worth about $42,000. Cullen Frost Bankers Inc. lifted its stake in Perimeter Solutions by 161.2% during the second quarter. Cullen Frost Bankers Inc. now owns 3,124 shares of the company’s stock worth $43,000 after purchasing an additional 1,928 shares during the period. Comerica Bank boosted its holdings in Perimeter Solutions by 45.0% during the first quarter. Comerica Bank now owns 4,267 shares of the company’s stock valued at $43,000 after purchasing an additional 1,324 shares in the last quarter. Finally, Brown Lisle Cummings Inc. acquired a new stake in Perimeter Solutions during the third quarter valued at approximately $45,000. Institutional investors and hedge funds own 89.93% of the company’s stock.

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.