Perimeter Solutions (NYSE:PRM) Stock Rating Upgraded by UBS Group

UBS Group upgraded shares of Perimeter Solutions (NYSE:PRM) from a neutral rating to a buy rating in a research note released on Wednesday morning, Marketbeat reports. The firm currently has $14.00 target price on the stock.

Perimeter Solutions Stock Down 3.2 %

Perimeter Solutions stock opened at $10.28 on Wednesday. The company has a market capitalization of $1.54 billion, a PE ratio of -73.39 and a beta of 1.93. Perimeter Solutions has a 12-month low of $6.84 and a 12-month high of $14.44. The firm’s fifty day moving average is $10.97 and its 200 day moving average is $12.23. The company has a quick ratio of 2.95, a current ratio of 3.91 and a debt-to-equity ratio of 0.67.

Perimeter Solutions (NYSE:PRM) last announced its quarterly earnings data on Thursday, February 20th. The company reported $0.11 earnings per share for the quarter, beating the consensus estimate of ($0.10) by $0.21. The firm had revenue of $86.23 million for the quarter, compared to analyst estimates of $77.01 million. Perimeter Solutions had a negative net margin of 1.05% and a negative return on equity of 7.62%. As a group, sell-side analysts predict that Perimeter Solutions will post 0.71 EPS for the current fiscal year.

Insider Buying and Selling at Perimeter Solutions

In other news, Director Vivek Raj sold 250,000 shares of the company’s stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $9.17, for a total transaction of $2,292,500.00. Following the transaction, the director now directly owns 471,226 shares of the company’s stock, valued at $4,321,142.42. This represents a 34.66 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 8.70% of the company’s stock.

Institutional Trading of Perimeter Solutions

Several hedge funds have recently bought and sold shares of PRM. Comerica Bank acquired a new position in Perimeter Solutions during the 4th quarter valued at about $38,000. Quarry LP bought a new position in shares of Perimeter Solutions in the third quarter valued at approximately $52,000. McAdam LLC purchased a new position in shares of Perimeter Solutions during the fourth quarter valued at approximately $131,000. Tower Research Capital LLC TRC grew its holdings in Perimeter Solutions by 90.1% during the fourth quarter. Tower Research Capital LLC TRC now owns 10,665 shares of the company’s stock worth $136,000 after buying an additional 5,054 shares in the last quarter. Finally, Quantinno Capital Management LP purchased a new stake in Perimeter Solutions in the 4th quarter valued at $136,000. Institutional investors and hedge funds own 89.93% of the company’s stock.

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.