JPMorgan Chase & Co. Cuts Perimeter Solutions (NYSE:PRM) Price Target to $45.00

Perimeter Solutions (NYSE:PRM) had its price objective decreased by JPMorgan Chase & Co. from $50.00 to $45.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price target would suggest a potential upside of 49.18% from the stock’s previous close.

A number of other analysts have also recently weighed in on PRM. Morgan Stanley raised their price target on Perimeter Solutions from $35.00 to $40.00 and gave the company an “overweight” rating in a research note on Monday, May 11th. Weiss Ratings upgraded Perimeter Solutions from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday. Zacks Research lowered Perimeter Solutions from a “strong-buy” rating to a “hold” rating in a research report on Friday, July 10th. CJS Securities assumed coverage on shares of Perimeter Solutions in a research report on Tuesday, June 9th. They issued a “market outperform” rating and a $48.00 target price on the stock. Finally, Wall Street Zen downgraded shares of Perimeter Solutions from a “buy” rating to a “hold” rating in a report on Sunday, July 12th. Four analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, Perimeter Solutions has an average rating of “Moderate Buy” and an average target price of $41.75.

Perimeter Solutions Trading Down 1.5%

NYSE:PRM traded down $0.45 during trading hours on Monday, hitting $30.16. The company had a trading volume of 1,316,366 shares, compared to its average volume of 1,317,680. Perimeter Solutions has a 1 year low of $15.62 and a 1 year high of $38.17. The company has a market cap of $4.92 billion, a P/E ratio of -13.55 and a beta of 1.90. The company has a 50-day moving average of $33.94 and a 200 day moving average of $29.35. The company has a current ratio of 3.09, a quick ratio of 1.61 and a debt-to-equity ratio of 1.01.

Perimeter Solutions (NYSE:PRM) last released its quarterly earnings data on Friday, July 31st. The company reported $0.35 EPS for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.08). The business had revenue of $213.81 million during the quarter, compared to analyst estimates of $216.89 million. Perimeter Solutions had a negative net margin of 44.86% and a positive return on equity of 18.61%. Sell-side analysts expect that Perimeter Solutions will post 1.66 earnings per share for the current year.

Insider Buying and Selling

In other Perimeter Solutions news, CEO Haitham Khouri sold 117,511 shares of the business’s stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $31.19, for a total transaction of $3,665,168.09. Following the completion of the sale, the chief executive officer directly owned 1,874,615 shares of the company’s stock, valued at approximately $58,469,241.85. The trade was a 5.90% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Kyle Sable sold 150,000 shares of the company’s stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $31.52, for a total transaction of $4,728,000.00. Following the completion of the sale, the chief financial officer directly owned 20,000 shares of the company’s stock, valued at $630,400. The trade was a 88.24% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 6,385,514 shares of company stock worth $217,464,393. Insiders own 13.10% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of PRM. Financial Management Professionals Inc. acquired a new stake in shares of Perimeter Solutions in the 2nd quarter valued at about $26,000. Arax Advisory Partners grew its stake in Perimeter Solutions by 122.8% in the fourth quarter. Arax Advisory Partners now owns 1,047 shares of the company’s stock valued at $29,000 after acquiring an additional 577 shares during the period. Northwestern Mutual Wealth Management Co. increased its holdings in shares of Perimeter Solutions by 51.6% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,143 shares of the company’s stock valued at $31,000 after acquiring an additional 389 shares in the last quarter. EverSource Wealth Advisors LLC raised its holdings in Perimeter Solutions by 20.0% during the first quarter. EverSource Wealth Advisors LLC now owns 2,295 shares of the company’s stock worth $56,000 after buying an additional 383 shares during the last quarter. Finally, Larson Financial Group LLC lifted its stake in shares of Perimeter Solutions by 55.7% in the fourth quarter. Larson Financial Group LLC now owns 2,514 shares of the company’s stock valued at $69,000 after buying an additional 899 shares in the last quarter. Institutional investors and hedge funds 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.