Perimeter Solutions (NYSE:PRM) Downgraded by Zacks Research to “Hold”

Zacks Research cut shares of Perimeter Solutions (NYSE:PRM) from a strong-buy rating to a hold rating in a report published on Wednesday morning,Zacks.com reports.

Other equities analysts have also recently issued reports about the company. UBS Group upped their price objective on Perimeter Solutions from $21.00 to $25.00 and gave the stock a “buy” rating in a report on Tuesday, September 30th. Morgan Stanley set a $35.00 target price on Perimeter Solutions in a research report on Monday. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Perimeter Solutions in a research note on Wednesday, October 8th. Two research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, Perimeter Solutions has an average rating of “Moderate Buy” and an average price target of $30.00.

Perimeter Solutions Price Performance

Shares of NYSE:PRM opened at $27.75 on Wednesday. The company’s fifty day moving average price is $25.31 and its 200-day moving average price is $20.48. The company has a debt-to-equity ratio of 0.61, a current ratio of 2.22 and a quick ratio of 1.72. The firm has a market capitalization of $4.10 billion, a price-to-earnings ratio of 66.07 and a beta of 1.96. Perimeter Solutions has a one year low of $8.76 and a one year high of $29.78.

Perimeter Solutions (NYSE:PRM) last announced its earnings results on Thursday, October 30th. The company reported $0.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.68 by $0.14. The company had revenue of $315.44 million during the quarter, compared to analyst estimates of $238.27 million. Perimeter Solutions had a net margin of 12.26% and a return on equity of 17.33%. On average, equities research analysts anticipate that Perimeter Solutions will post 0.71 earnings per share for the current fiscal year.

Insider Buying and Selling at Perimeter Solutions

In other news, CFO Kyle Sable sold 100,000 shares of the business’s stock in a transaction dated Friday, December 12th. The stock was sold at an average price of $28.47, for a total value of $2,847,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 10.00% of the company’s stock.

Hedge Funds Weigh In On Perimeter Solutions

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Tudor Investment Corp ET AL lifted its position in Perimeter Solutions by 395.5% in the third quarter. Tudor Investment Corp ET AL now owns 144,893 shares of the company’s stock valued at $3,244,000 after purchasing an additional 115,653 shares during the last quarter. Cambria Investment Management L.P. increased its stake in shares of Perimeter Solutions by 25.0% in the third quarter. Cambria Investment Management L.P. now owns 60,959 shares of the company’s stock worth $1,365,000 after buying an additional 12,186 shares during the period. CIBC Private Wealth Group LLC increased its stake in shares of Perimeter Solutions by 416.7% in the third quarter. CIBC Private Wealth Group LLC now owns 7,750 shares of the company’s stock worth $174,000 after buying an additional 6,250 shares during the period. CIBC Bancorp USA Inc. bought a new stake in Perimeter Solutions during the 3rd quarter valued at $332,000. Finally, XTX Topco Ltd purchased a new stake in Perimeter Solutions during the 3rd quarter valued at $1,164,000. 89.93% of the stock is currently owned by institutional investors.

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.