Perimeter Solutions (NYSE:PRM) Stock Rating Upgraded by UBS Group

Perimeter Solutions (NYSE:PRM) was upgraded by equities researchers at UBS Group from a “neutral” rating to a “buy” rating in a research report issued on Wednesday, Marketbeat Ratings reports. The brokerage currently has a $14.00 price target on the stock. UBS Group’s target price points to a potential upside of 32.01% from the company’s previous close.

Perimeter Solutions Trading Up 5.8 %

Shares of PRM stock opened at $10.61 on Wednesday. The company has a current ratio of 3.91, a quick ratio of 2.95 and a debt-to-equity ratio of 0.67. Perimeter Solutions has a twelve month low of $6.84 and a twelve month high of $14.44. The company’s 50-day moving average price is $11.04 and its 200-day moving average price is $12.24. The stock has a market cap of $1.59 billion, a price-to-earnings ratio of -75.74 and a beta of 1.93.

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

Insider Transactions at Perimeter Solutions

In other news, Director Vivek Raj sold 250,000 shares of the company’s stock in a transaction that occurred on 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 transaction, the director now directly owns 471,226 shares in the company, valued at approximately $4,321,142.42. This represents a 34.66 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 8.70% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in PRM. Comerica Bank purchased a new stake in shares of Perimeter Solutions in the 4th quarter valued at $38,000. Quarry LP acquired a new position in Perimeter Solutions in the 3rd quarter valued at about $52,000. McAdam LLC acquired a new position in Perimeter Solutions in the 4th quarter valued at about $131,000. Orion Portfolio Solutions LLC purchased a new stake in Perimeter Solutions during the third quarter worth about $138,000. Finally, Quantinno Capital Management LP acquired a new stake in shares of Perimeter Solutions during the fourth quarter worth about $136,000. 89.93% of the stock is currently owned by institutional investors and hedge funds.

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.