Perimeter Solutions (NYSE:PRM) Upgraded at UBS Group

UBS Group upgraded shares of Perimeter Solutions (NYSE:PRM) from a neutral rating to a buy rating in a research note issued to investors on Wednesday morning, Marketbeat reports. The brokerage currently has $14.00 target price on the stock.

Perimeter Solutions Price Performance

PRM opened at $10.02 on Wednesday. Perimeter Solutions has a 1 year low of $6.84 and a 1 year high of $14.44. The stock has a 50-day moving average price of $11.09 and a 200-day moving average price of $12.25. The firm has a market cap of $1.50 billion, a PE ratio of -71.57 and a beta of 1.93. The company has a debt-to-equity ratio of 0.67, a current ratio of 3.91 and a quick ratio of 2.95.

Perimeter Solutions (NYSE:PRM) last issued its earnings results on Thursday, February 20th. The company reported $0.11 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.10) by $0.21. Perimeter Solutions had a negative net margin of 1.05% and a negative return on equity of 7.62%. The business had revenue of $86.23 million during the quarter, compared to analysts’ expectations of $77.01 million. Sell-side analysts predict that Perimeter Solutions will post 0.71 earnings per share for the current fiscal year.

Insider Transactions at Perimeter Solutions

In other news, Director Vivek Raj sold 250,000 shares of Perimeter Solutions 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 completion of the sale, the director now directly owns 471,226 shares in the company, valued at $4,321,142.42. The trade was a 34.66 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 8.70% of the company’s stock.

Institutional Investors Weigh In On Perimeter Solutions

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Perimeter Solutions by 25.6% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 313,239 shares of the company’s stock worth $4,003,000 after buying an additional 63,919 shares during the last quarter. Voloridge Investment Management LLC boosted its position in Perimeter Solutions by 26.6% in the fourth quarter. Voloridge Investment Management LLC now owns 174,651 shares of the company’s stock worth $2,232,000 after purchasing an additional 36,652 shares during the last quarter. Squarepoint Ops LLC bought a new stake in shares of Perimeter Solutions during the 4th quarter valued at about $1,911,000. Two Sigma Advisers LP bought a new stake in shares of Perimeter Solutions during the 4th quarter valued at about $258,000. Finally, State of Wyoming increased its position in shares of Perimeter Solutions by 241.6% during the 4th quarter. State of Wyoming now owns 34,827 shares of the company’s stock valued at $445,000 after purchasing an additional 24,632 shares during the last quarter. Hedge funds and other institutional investors 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.