Perimeter Solutions (NYSE:PRM) Upgraded to “Buy” at UBS Group

Perimeter Solutions (NYSE:PRM) was upgraded by investment analysts at UBS Group from a “neutral” rating to a “buy” rating in a research report issued to clients and investors on Wednesday,Finviz reports. The firm currently has a $14.00 price target on the stock. UBS Group’s target price would indicate a potential upside of 53.68% from the stock’s previous close.

Perimeter Solutions Stock Down 1.1 %

Shares of Perimeter Solutions stock opened at $9.11 on Wednesday. The company has a debt-to-equity ratio of 0.67, a current ratio of 3.91 and a quick ratio of 2.95. Perimeter Solutions has a 1-year low of $6.84 and a 1-year high of $14.44. The business’s fifty day moving average price is $11.16 and its two-hundred day moving average price is $12.26. The company has a market capitalization of $1.36 billion, a P/E ratio of -65.07 and a beta of 1.93.

Perimeter Solutions (NYSE:PRM) last posted its quarterly earnings data on Thursday, February 20th. The company reported $0.11 earnings per share for the quarter, topping the consensus estimate of ($0.10) by $0.21. The business had revenue of $86.23 million during the quarter, compared to the consensus estimate 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, research analysts forecast that Perimeter Solutions will post 0.71 EPS for the current year.

Insider Activity at Perimeter Solutions

In other Perimeter Solutions news, Director Vivek Raj sold 250,000 shares of the business’s stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $9.17, for a total value of $2,292,500.00. Following the sale, the director now directly owns 471,226 shares in the company, valued at approximately $4,321,142.42. The trade was a 34.66 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 8.70% of the company’s stock.

Hedge Funds Weigh In On Perimeter Solutions

Several hedge funds have recently made changes to their positions in the business. Summit Investment Advisors Inc. boosted its holdings in Perimeter Solutions by 6.8% during the fourth quarter. Summit Investment Advisors Inc. now owns 14,000 shares of the company’s stock worth $179,000 after buying an additional 889 shares in the last quarter. Orion Portfolio Solutions LLC grew its holdings in shares of Perimeter Solutions by 14.8% in the 4th quarter. Orion Portfolio Solutions LLC now owns 11,794 shares of the company’s stock worth $151,000 after acquiring an additional 1,519 shares during the last quarter. Bleakley Financial Group LLC raised its position in shares of Perimeter Solutions by 6.7% during the fourth quarter. Bleakley Financial Group LLC now owns 28,380 shares of the company’s stock worth $363,000 after purchasing an additional 1,778 shares during the period. Sei Investments Co. lifted its holdings in shares of Perimeter Solutions by 2.2% during the fourth quarter. Sei Investments Co. now owns 89,063 shares of the company’s stock valued at $1,138,000 after purchasing an additional 1,884 shares during the last quarter. Finally, Townsquare Capital LLC boosted its position in shares of Perimeter Solutions by 11.8% in the 4th quarter. Townsquare Capital LLC now owns 21,370 shares of the company’s stock valued at $273,000 after purchasing an additional 2,258 shares during the period. 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.