Perimeter Solutions (NYSE:PRM) Raised to “Hold” at Zacks Research

by · The Cerbat Gem

Perimeter Solutions (NYSE:PRM – Get Free Report) was upgraded by analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a note issued to investors on Thursday, Zacks reports.

Other equities analysts have also recently issued research reports about the stock. Wall Street Zen cut shares of Perimeter Solutions from a “buy” rating to a “hold” rating in a research report on Sunday, July 12th. Weiss Ratings lowered Perimeter Solutions from a “sell (d+)” rating to a “sell (d)” rating in a research report on Monday, September 28th. JPMorgan Chase & Co. cut their target price on Perimeter Solutions from $45.00 to $40.00 and set an “overweight” rating on the stock in a research report on Tuesday. Finally, UBS Group decreased their price target on Perimeter Solutions from $42.00 to $38.00 and set a “buy” rating on the stock in a research note on Tuesday, September 29th. Four research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Perimeter Solutions currently has an average rating of “Moderate Buy” and a consensus price target of $41.50.

Check Out Our Latest Research Report on Perimeter Solutions

Perimeter Solutions Trading Down 3.0%

PRM stock traded down $0.81 during mid-day trading on Thursday, hitting $26.49. 1,515,586 shares of the company were exchanged, compared to its average volume of 1,365,155. Perimeter Solutions has a 12-month low of $19.70 and a 12-month high of $38.17. The firm has a market capitalization of $4.34 billion, a P/E ratio of -11.88 and a beta of 1.92. The business has a fifty day simple moving average of $30.34 and a 200-day simple moving average of $31.39. The company has a quick ratio of 0.93, a current ratio of 1.57 and a debt-to-equity ratio of 1.19.

Perimeter Solutions (NYSE:PRM – Get Free Report) last released its quarterly earnings results on Friday, July 31st. The company reported $0.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.08). The company had revenue of $213.81 million during the quarter, compared to analysts’ expectations of $216.89 million. Perimeter Solutions had a negative net margin of 44.86% and a positive return on equity of 19.15%. On average, equities research analysts predict that Perimeter Solutions will post 1.57 earnings per share for the current fiscal year.

Institutional Trading of Perimeter Solutions

A number of institutional investors and hedge funds have recently bought and sold shares of PRM. Principal Financial Group Inc. lifted its position in shares of Perimeter Solutions by 15.0% during the first quarter. Principal Financial Group Inc. now owns 12,513,159 shares of the company’s stock worth $305,572,000 after purchasing an additional 1,634,158 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Perimeter Solutions by 0.6% in the first quarter. Dimensional Fund Advisors LP now owns 4,763,465 shares of the company’s stock worth $116,286,000 after acquiring an additional 27,643 shares in the last quarter. Janus Henderson Group PLC increased its position in shares of Perimeter Solutions by 8.6% during the first quarter. Janus Henderson Group PLC now owns 4,007,536 shares of the company’s stock worth $97,863,000 after acquiring an additional 315,763 shares during the period. Bank of America Corp DE increased its position in shares of Perimeter Solutions by 4.8% during the first quarter. Bank of America Corp DE now owns 1,738,095 shares of the company’s stock worth $42,444,000 after acquiring an additional 79,083 shares during the period. Finally, Bessemer Group Inc. increased its position in shares of Perimeter Solutions by 61.2% during the first quarter. Bessemer Group Inc. now owns 1,064,925 shares of the company’s stock worth $26,006,000 after acquiring an additional 404,417 shares during the period. 89.93% of the stock is currently owned by hedge funds and other institutional investors.

Perimeter Solutions Company Profile

(Get Free Report)

Perimeter Solutions, Inc (NYSE: PRM) is a global manufacturer of fire safety products and specialty chemicals. The company serves government agencies, industrial customers and other commercial markets through two primary business areas: fire safety and specialty chemicals.

Its fire safety portfolio includes PHOS-CHEK wildland fire retardants and fire suppression products, as well as SOLBERG firefighting foams used in applications such as airports, industrial facilities, marine operations and other high-risk environments.

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