Perimeter Solutions (NYSE:PRM) Upgraded to "Buy" at UBS Group

Perimeter Solutions (NYSE:PRM - Get Free Report) was upgraded by analysts at UBS Group from a "neutral" rating to a "buy" rating in a report issued on Wednesday, Marketbeat Ratings reports. The firm currently has a $14.00 price objective on the stock. UBS Group's target price would suggest a potential upside of 36.24% from the stock's current price.

Perimeter Solutions Stock Down 3.2 %

NYSE:PRM traded down $0.34 on Wednesday, hitting $10.28. The stock had a trading volume of 1,756,685 shares, compared to its average volume of 876,382. Perimeter Solutions has a 1 year low of $6.84 and a 1 year high of $14.44. The firm's fifty day simple moving average is $10.97 and its two-hundred day simple moving average is $12.24. The company has a debt-to-equity ratio of 0.67, a quick ratio of 2.95 and a current ratio of 3.91. The stock has a market cap of $1.54 billion, a P/E ratio of -73.39 and a beta of 1.93.

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

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Insiders Place Their Bets

In related news, Director Vivek Raj sold 250,000 shares of the business's stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $9.17, for a total value of $2,292,500.00. Following the sale, the director now directly owns 471,226 shares in the company, valued at approximately $4,321,142.42. The trade was a 34.66 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 8.70% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Perimeter Solutions by 25.6% during 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 valued at $4,003,000 after acquiring an additional 63,919 shares during the period. Voloridge Investment Management LLC raised its stake in shares of Perimeter Solutions by 26.6% during the 4th quarter. Voloridge Investment Management LLC now owns 174,651 shares of the company's stock valued at $2,232,000 after purchasing an additional 36,652 shares during the period. Squarepoint Ops LLC bought a new stake in shares of Perimeter Solutions during the 4th quarter valued at $1,911,000. Two Sigma Advisers LP purchased a new stake in Perimeter Solutions during the 4th quarter worth about $258,000. Finally, State of Wyoming boosted its stake in Perimeter Solutions by 241.6% in the 4th quarter. State of Wyoming now owns 34,827 shares of the company's stock worth $445,000 after purchasing an additional 24,632 shares during the period. 89.93% of the stock is owned by institutional investors.

Perimeter Solutions Company Profile

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.