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

Perimeter Solutions (NYSE:PRM) was upgraded by investment analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research report issued on Saturday.

A number of other equities analysts also recently weighed in on PRM. Zacks Research upgraded shares of Perimeter Solutions from a “hold” rating to a “strong-buy” rating in a report on Tuesday, April 14th. UBS Group boosted their target price on shares of Perimeter Solutions from $30.00 to $34.00 and gave the stock a “buy” rating in a report on Thursday. Finally, Weiss Ratings downgraded shares of Perimeter Solutions from a “hold (c-)” rating to a “sell (d-)” rating in a report on Monday, March 2nd. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, Perimeter Solutions has a consensus rating of “Moderate Buy” and an average price target of $34.50.

Perimeter Solutions Price Performance

Shares of PRM opened at $31.90 on Friday. The company has a market cap of $5.20 billion, a price-to-earnings ratio of -23.80 and a beta of 1.93. Perimeter Solutions has a 1-year low of $11.49 and a 1-year high of $32.02. The company’s fifty day simple moving average is $25.37 and its 200 day simple moving average is $26.20. The company has a current ratio of 3.22, a quick ratio of 2.42 and a debt-to-equity ratio of 0.60.

Perimeter Solutions (NYSE:PRM) last issued its earnings results on Wednesday, May 6th. The company reported $0.06 earnings per share for the quarter, topping analysts’ consensus estimates of $0.02 by $0.04. The business had revenue of $125.07 million for the quarter, compared to the consensus estimate of $121.80 million. Perimeter Solutions had a negative net margin of 26.93% and a positive return on equity of 18.55%. On average, research analysts forecast that Perimeter Solutions will post 1.47 earnings per share for the current fiscal year.

Insider Activity

In other news, Director William N. Thorndike, Jr. sold 100,000 shares of the business’s stock in a transaction dated Tuesday, March 10th. The shares were sold at an average price of $23.63, for a total value of $2,363,000.00. Following the completion of the sale, the director owned 8,635,656 shares of the company’s stock, valued at approximately $204,060,551.28. The trade was a 1.14% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders have sold a total of 450,000 shares of company stock valued at $10,722,750 over the last three months. Insiders own 13.10% of the company’s stock.

Institutional Investors Weigh In On Perimeter Solutions

Several institutional investors and hedge funds have recently bought and sold shares of PRM. Comerica Bank lifted its position in Perimeter Solutions by 45.0% during the first quarter. Comerica Bank now owns 4,267 shares of the company’s stock worth $43,000 after purchasing an additional 1,324 shares during the period. Royal Bank of Canada lifted its position in Perimeter Solutions by 100.0% during the first quarter. Royal Bank of Canada now owns 80,608 shares of the company’s stock worth $812,000 after purchasing an additional 40,294 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Perimeter Solutions by 4.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 79,546 shares of the company’s stock worth $801,000 after purchasing an additional 3,428 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in Perimeter Solutions by 4.8% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 328,188 shares of the company’s stock worth $3,305,000 after purchasing an additional 14,949 shares during the period. Finally, American Century Companies Inc. bought a new stake in Perimeter Solutions during the second quarter worth about $2,128,000. Institutional investors own 89.93% of the company’s stock.

Perimeter Solutions Company Profile

Perimeter Solutions Ltd. (NYSE: PRM) is a global specialty chemicals company focused on delivering performance-driven solutions for the oil and gas, coatings, plastics, water treatment and packaging markets. Established as an independent publicly traded company in December 2019 following its spin-off from NewMarket Corporation, Perimeter Solutions has positioned itself as a leading provider of highly engineered chemical products designed to optimize upstream oil recovery, protect infrastructure and enhance the performance of industrial processes.

The company’s core product portfolio spans several key segments.