Perimeter Solutions (NYSE:PRM) Stock Rating Lowered by Zacks Research

Perimeter Solutions (NYSE:PRM) was downgraded by analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research report issued on Monday,Zacks.com reports.

Other research analysts have also recently issued reports about the company. Wall Street Zen cut Perimeter Solutions from a “buy” rating to a “hold” rating in a research report on Sunday, July 12th. JPMorgan Chase & Co. reduced their price objective on shares of Perimeter Solutions from $50.00 to $45.00 and set an “overweight” rating for the company in a research note on Monday, August 3rd. CJS Securities assumed coverage on shares of Perimeter Solutions in a report on Tuesday, June 9th. They issued a “market outperform” rating and a $48.00 target price for the company. Weiss Ratings upgraded Perimeter Solutions from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, July 29th. Finally, UBS Group upped their price objective on Perimeter Solutions from $30.00 to $34.00 and gave the stock a “buy” rating in a research note on Thursday, May 7th. Four investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $41.75.

Perimeter Solutions Stock Up 0.1%

Shares of PRM stock opened at $34.57 on Monday. The company has a current ratio of 1.57, a quick ratio of 0.93 and a debt-to-equity ratio of 1.19. Perimeter Solutions has a 12 month low of $17.67 and a 12 month high of $38.17. The stock has a market cap of $5.66 billion, a P/E ratio of -15.50 and a beta of 1.91. The company has a 50 day simple moving average of $34.32 and a two-hundred day simple moving average of $29.64.

Perimeter Solutions (NYSE:PRM) last issued 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). Perimeter Solutions had a positive return on equity of 19.15% and a negative net margin of 44.86%.The business had revenue of $213.81 million for the quarter, compared to analysts’ expectations of $216.89 million. On average, research analysts expect that Perimeter Solutions will post 1.58 earnings per share for the current year.

Insider Activity at Perimeter Solutions

In related news, CEO Haitham Khouri sold 117,511 shares of the company’s stock in a transaction on 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 in the company, valued at $58,469,241.85. This represents a 5.90% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, major shareholder Windacre Partnership Llc sold 1,875,000 shares of the business’s stock in a transaction dated Tuesday, June 30th. The stock was sold at an average price of $33.90, for a total transaction of $63,562,500.00. Following the completion of the transaction, the insider owned 16,148,621 shares of the company’s stock, valued at $547,438,251.90. This represents a 10.40% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 5,935,514 shares of company stock valued at $202,902,090 in the last ninety days. Corporate insiders own 13.10% of the company’s stock.

Institutional Investors Weigh In On Perimeter Solutions

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. EverSource Wealth Advisors LLC lifted its position in Perimeter Solutions by 20.0% during the 1st quarter. EverSource Wealth Advisors LLC now owns 2,295 shares of the company’s stock worth $56,000 after acquiring an additional 383 shares during the period. Northwestern Mutual Wealth Management Co. increased its holdings in Perimeter Solutions by 51.6% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,143 shares of the company’s stock worth $31,000 after buying an additional 389 shares during the period. GAMMA Investing LLC raised its position in Perimeter Solutions by 9.0% during the 2nd quarter. GAMMA Investing LLC now owns 5,127 shares of the company’s stock worth $183,000 after buying an additional 425 shares during the last quarter. Allworth Financial LP boosted its holdings in shares of Perimeter Solutions by 14.1% in the 4th quarter. Allworth Financial LP now owns 4,100 shares of the company’s stock valued at $113,000 after acquiring an additional 508 shares during the last quarter. Finally, Comerica Bank increased its stake in shares of Perimeter Solutions by 12.2% in the third quarter. Comerica Bank now owns 5,019 shares of the company’s stock worth $112,000 after acquiring an additional 547 shares during the period. Hedge funds and other institutional investors own 89.93% of the company’s stock.

About Perimeter Solutions

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.