Perimeter Solutions (NYSE:PRM) Stock Price Target Lowered at JPMorgan Chase & Co.

Perimeter Solutions (NYSE:PRM) had its price target decreased by stock analysts at JPMorgan Chase & Co. from $45.00 to $40.00 in a research report issued on Tuesday, Benzinga reports. The firm currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s target price points to a potential upside of 47.09% from the stock’s current price.

Several other research firms have also recently issued reports on PRM. Zacks Research cut Perimeter Solutions from a “hold” rating to a “strong sell” rating in a research note on Monday, August 10th. UBS Group lowered their price target on Perimeter Solutions from $42.00 to $38.00 and set a “buy” rating for the company in a report on Tuesday, September 29th. Weiss Ratings downgraded Perimeter Solutions from a “sell (d+)” rating to a “sell (d)” rating in a research report on Monday, September 28th. Finally, Wall Street Zen lowered 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 given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $41.50.

Perimeter Solutions Trading Up 0.4%

PRM stock traded up $0.10 during trading on Tuesday, reaching $27.20. 418,896 shares of the stock were exchanged, compared to its average volume of 1,303,616. The company has a current ratio of 1.57, a quick ratio of 0.93 and a debt-to-equity ratio of 1.19. The firm has a market capitalization of $4.45 billion, a price-to-earnings ratio of -12.19 and a beta of 1.92. The business has a 50 day moving average price of $30.98 and a 200-day moving average price of $31.30. Perimeter Solutions has a 1 year low of $19.70 and a 1 year high of $38.17.

Perimeter Solutions (NYSE:PRM) last posted its quarterly earnings results on Friday, July 31st. The company reported $0.35 earnings per share for the quarter, missing the consensus estimate of $0.43 by ($0.08). The firm had revenue of $213.81 million during the quarter, compared to analysts’ expectations of $216.89 million. Perimeter Solutions had a negative net margin of 44.86% and a positive return on equity of 19.15%. On average, research analysts predict that Perimeter Solutions will post 1.54 earnings per share for the current year.

Institutional Investors Weigh In On Perimeter Solutions

Institutional investors have recently modified their holdings of the company. Bessemer Group Inc. raised its holdings in shares of Perimeter Solutions by 61.2% in the 1st quarter. Bessemer Group Inc. now owns 1,064,925 shares of the company’s stock valued at $26,006,000 after buying an additional 404,417 shares during the period. Sei Investments Co. boosted its holdings in Perimeter Solutions by 100.1% during the 1st quarter. Sei Investments Co. now owns 90,407 shares of the company’s stock valued at $2,208,000 after acquiring an additional 45,227 shares during the period. Guardian Wealth Advisors LLC NC boosted its holdings in Perimeter Solutions by 166.7% during the 2nd quarter. Guardian Wealth Advisors LLC NC now owns 115,498 shares of the company’s stock valued at $3,185,000 after acquiring an additional 72,196 shares during the period. Bank of America Corp DE boosted its holdings in Perimeter Solutions by 4.8% during the 1st quarter. Bank of America Corp DE now owns 1,738,095 shares of the company’s stock valued at $42,444,000 after acquiring an additional 79,083 shares during the period. Finally, Squarepoint Ops LLC grew its position in Perimeter Solutions by 101.2% in the 2nd quarter. Squarepoint Ops LLC now owns 166,187 shares of the company’s stock valued at $5,925,000 after acquiring an additional 83,581 shares in the last quarter. 89.93% of the stock is owned by institutional investors and hedge funds.

About Perimeter Solutions

Perimeter Solutions, Inc (NYSE: PRM) is a global manufacturer of fire safety products and specialty chemicals. The company serves government agencies, industrial customers and other commercial markets through two primary business areas: fire safety and specialty chemicals.

Its fire safety portfolio includes PHOS-CHEK wildland fire retardants and fire suppression products, as well as SOLBERG firefighting foams used in applications such as airports, industrial facilities, marine operations and other high-risk environments.