Morgan Stanley Boosts Perimeter Solutions (NYSE:PRM) Price Target to $18.00

Perimeter Solutions (NYSE:PRM) had its price target increased by Morgan Stanley from $14.00 to $18.00 in a report published on Monday, Benzinga reports. Morgan Stanley currently has an overweight rating on the stock.

Separately, UBS Group raised their target price on shares of Perimeter Solutions from $8.75 to $11.00 and gave the company a neutral rating in a research note on Friday, August 16th.

Perimeter Solutions Stock Performance

Shares of PRM stock opened at $12.35 on Monday. Perimeter Solutions has a 12-month low of $2.79 and a 12-month high of $12.75. The company has a debt-to-equity ratio of 0.63, a current ratio of 3.61 and a quick ratio of 1.87. The firm has a market capitalization of $1.79 billion, a price-to-earnings ratio of -53.70 and a beta of 2.00. The business has a 50 day simple moving average of $10.24 and a 200 day simple moving average of $8.33.

Perimeter Solutions (NYSE:PRM) last released its quarterly earnings results on Thursday, August 1st. The company reported $0.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.03 by $0.11. Perimeter Solutions had a positive return on equity of 2.94% and a negative net margin of 14.12%. The company had revenue of $127.28 million during the quarter, compared to analysts’ expectations of $113.41 million. During the same quarter in the prior year, the business posted ($0.05) earnings per share. On average, equities research analysts anticipate that Perimeter Solutions will post 0.49 EPS for the current year.

Institutional Trading of Perimeter Solutions

Several institutional investors have recently modified their holdings of the company. Principal Financial Group Inc. raised its position in Perimeter Solutions by 0.5% in the first quarter. Principal Financial Group Inc. now owns 10,573,592 shares of the company’s stock worth $78,456,000 after acquiring an additional 54,626 shares in the last quarter. Pennant Investors LP grew its stake in shares of Perimeter Solutions by 43.8% in the 4th quarter. Pennant Investors LP now owns 2,300,000 shares of the company’s stock worth $10,580,000 after purchasing an additional 700,000 shares during the last quarter. Senator Investment Group LP boosted its holdings in Perimeter Solutions by 0.5% during the second quarter. Senator Investment Group LP now owns 2,125,000 shares of the company’s stock worth $16,639,000 after buying an additional 10,700 shares in the last quarter. Equitable Trust Co. grew its position in Perimeter Solutions by 10.5% in the first quarter. Equitable Trust Co. now owns 2,117,843 shares of the company’s stock worth $15,714,000 after buying an additional 200,632 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in shares of Perimeter Solutions by 59.2% in the second quarter. Dimensional Fund Advisors LP now owns 1,878,518 shares of the company’s stock valued at $14,708,000 after buying an additional 698,622 shares in the last quarter. 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.