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

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

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

Perimeter Solutions Trading Down 3.0%

Perimeter Solutions stock traded down $0.81 during mid-day trading on Thursday, reaching $26.49. 1,515,586 shares of the company traded hands, compared to its average volume of 1,365,155. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.57 and a quick ratio of 0.93. The firm’s 50 day moving average price is $30.34 and its 200 day moving average price is $31.39. The firm has a market capitalization of $4.34 billion, a price-to-earnings ratio of -11.88 and a beta of 1.92. Perimeter Solutions has a 52-week low of $19.70 and a 52-week high of $38.17.

Perimeter Solutions (NYSE:PRM) last posted its earnings results on Friday, July 31st. The company reported $0.35 EPS for the quarter, missing the consensus estimate 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 positive return on equity of 19.15% and a negative net margin of 44.86%. On average, analysts anticipate that Perimeter Solutions will post 1.57 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Perimeter Solutions

Institutional investors have recently modified their holdings of the stock. Enclave Advisors LLC increased its holdings in shares of Perimeter Solutions by 31.9% during the third quarter. Enclave Advisors LLC now owns 29,582 shares of the company’s stock valued at $779,000 after acquiring an additional 7,151 shares in the last quarter. Contravisory Investment Management Inc. boosted its stake in Perimeter Solutions by 9.0% in the 3rd quarter. Contravisory Investment Management Inc. now owns 15,927 shares of the company’s stock worth $419,000 after purchasing an additional 1,311 shares in the last quarter. GAMMA Investing LLC boosted its stake in Perimeter Solutions by 27.1% in the 3rd quarter. GAMMA Investing LLC now owns 6,516 shares of the company’s stock worth $172,000 after purchasing an additional 1,389 shares in the last quarter. Argent Capital Management LLC boosted its stake in Perimeter Solutions by 4.0% in the 3rd quarter. Argent Capital Management LLC now owns 31,426 shares of the company’s stock worth $827,000 after purchasing an additional 1,198 shares in the last quarter. Finally, Sequoia Financial Advisors LLC purchased a new stake in Perimeter Solutions during the 2nd quarter valued at about $293,000. 89.93% of the stock is owned by hedge funds and other institutional investors.

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.