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

Zacks Research upgraded shares of Perimeter Solutions (NYSE:PRM) from a strong sell rating to a hold rating in a research note published on Thursday,Zacks reports.

PRM has been the topic of a number of other reports. JPMorgan Chase & Co. reduced their price objective on shares of Perimeter Solutions from $45.00 to $40.00 and set an “overweight” rating on the stock in a research note on Tuesday. UBS Group dropped their target price on shares of Perimeter Solutions from $42.00 to $38.00 and set a “buy” rating for the company in a research report on Tuesday, September 29th. Wall Street Zen downgraded shares of Perimeter Solutions from a “buy” rating to a “hold” rating in a research report on Sunday, July 12th. Finally, Weiss Ratings lowered shares of Perimeter Solutions from a “sell (d+)” rating to a “sell (d)” rating in a research note on Monday, September 28th. Four investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Perimeter Solutions currently has an average rating of “Moderate Buy” and an average target price of $41.50.

Perimeter Solutions Stock Down 3.0%

Shares of PRM traded down $0.81 during trading on Thursday, reaching $26.49. The company’s stock had a trading volume of 1,515,586 shares, compared to its average volume of 1,365,155. The company has a market cap of $4.34 billion, a price-to-earnings ratio of -11.88 and a beta of 1.92. The company has a quick ratio of 0.93, a current ratio of 1.57 and a debt-to-equity ratio of 1.19. The company has a fifty day moving average of $30.34 and a two-hundred day moving average of $31.39. Perimeter Solutions has a twelve month low of $19.70 and a twelve month high of $38.17.

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

Institutional Trading of Perimeter Solutions

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

Perimeter Solutions Company Profile

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.