Perimeter Solutions (NYSE:PRM) Upgraded at UBS Group

Perimeter Solutions (NYSE:PRM) was upgraded by UBS Group from a “neutral” rating to a “buy” rating in a research note issued to investors on Tuesday, Marketbeat.com reports. The firm presently has a $30.00 target price on the stock. UBS Group’s price objective would indicate a potential upside of 41.14% from the company’s current price.

Several other research firms have also weighed in on PRM. Zacks Research lowered Perimeter Solutions from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 17th. Morgan Stanley set a $35.00 target price on Perimeter Solutions in a research note on Monday, December 15th. Finally, Weiss Ratings downgraded Perimeter Solutions from a “hold (c-)” rating to a “sell (d-)” rating in a report on Monday, March 2nd. Two research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Perimeter Solutions has a consensus rating of “Hold” and a consensus price target of $32.50.

Perimeter Solutions Trading Down 0.4%

Perimeter Solutions stock opened at $21.26 on Tuesday. Perimeter Solutions has a 52 week low of $8.76 and a 52 week high of $29.88. The company has a debt-to-equity ratio of 0.60, a quick ratio of 2.42 and a current ratio of 3.22. The firm has a market capitalization of $3.18 billion, a price-to-earnings ratio of -14.97 and a beta of 1.98. The company has a 50 day moving average price of $24.90 and a 200 day moving average price of $25.15.

Perimeter Solutions (NYSE:PRM) last announced its earnings results on Friday, February 27th. The company reported $0.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.04. The company had revenue of $102.75 million for the quarter, compared to the consensus estimate of $94.05 million. Perimeter Solutions had a negative net margin of 31.61% and a positive return on equity of 17.82%. Research analysts forecast that Perimeter Solutions will post 0.71 EPS for the current year.

Insider Buying and Selling at Perimeter Solutions

In related news, Director William N. Thorndike, Jr. sold 125,000 shares of the stock in a transaction on Monday, March 9th. The stock was sold at an average price of $23.37, for a total transaction of $2,921,250.00. Following the completion of the sale, the director directly owned 8,735,656 shares in the company, valued at approximately $204,152,280.72. This trade represents a 1.41% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold 450,000 shares of company stock valued at $10,722,750 over the last 90 days. Corporate insiders own 10.00% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Comerica Bank raised its stake in shares of Perimeter Solutions by 45.0% during the 1st quarter. Comerica Bank now owns 4,267 shares of the company’s stock worth $43,000 after purchasing an additional 1,324 shares in the last quarter. Royal Bank of Canada grew its stake in shares of Perimeter Solutions by 100.0% in the 1st quarter. Royal Bank of Canada now owns 80,608 shares of the company’s stock valued at $812,000 after buying an additional 40,294 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Perimeter Solutions by 4.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 79,546 shares of the company’s stock valued at $801,000 after buying an additional 3,428 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in Perimeter Solutions by 4.8% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 328,188 shares of the company’s stock worth $3,305,000 after buying an additional 14,949 shares during the last quarter. Finally, Swiss National Bank raised its position in Perimeter Solutions by 0.9% during the second quarter. Swiss National Bank now owns 271,700 shares of the company’s stock valued at $3,782,000 after acquiring an additional 2,400 shares in the last quarter. 89.93% of the stock is owned by institutional investors and hedge funds.

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.