Perimeter Solutions (NYSE:PRM) Raised 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 note issued to investors on Wednesday, Marketbeat.com reports. The firm currently has a $14.00 price objective on the stock. UBS Group’s price objective points to a potential upside of 32.01% from the company’s current price.

Perimeter Solutions Price Performance

Shares of PRM opened at $10.61 on Wednesday. The business’s 50-day moving average is $11.04 and its two-hundred day moving average is $12.24. The company has a market capitalization of $1.59 billion, a P/E ratio of -75.74 and a beta of 1.93. Perimeter Solutions has a fifty-two week low of $6.84 and a fifty-two week high of $14.44. The company has a debt-to-equity ratio of 0.67, a quick ratio of 2.95 and a current ratio of 3.91.

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

Insider Activity at Perimeter Solutions

In other Perimeter Solutions news, Director Vivek Raj sold 250,000 shares of the stock in a transaction on Friday, March 14th. The shares were 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 trade represents a 34.66 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 8.70% of the stock is owned by company insiders.

Institutional Investors Weigh In On Perimeter Solutions

Several large investors have recently bought and sold shares of PRM. Comerica Bank acquired a new position in Perimeter Solutions in the 4th quarter valued at $38,000. Quarry LP purchased a new stake in shares of Perimeter Solutions during the third quarter worth $52,000. McAdam LLC acquired a new stake in shares of Perimeter Solutions in the fourth quarter valued at about $131,000. Tower Research Capital LLC TRC lifted its stake in shares of Perimeter Solutions by 90.1% in 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 acquired a new position in Perimeter Solutions during the fourth quarter worth about $136,000. 89.93% of the stock is currently owned by hedge funds and other institutional investors.

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.