UBS Group Issues Pessimistic Forecast for Perimeter Solutions (NYSE:PRM) Stock Price

Perimeter Solutions (NYSE:PRM) had its price target lowered by stock analysts at UBS Group from $31.00 to $26.00 in a research report issued on Wednesday,Benzinga reports. The firm presently has a “neutral” rating on the stock. UBS Group’s price objective suggests a potential upside of 6.91% from the stock’s previous close.

A number of other equities analysts have also commented on PRM. Weiss Ratings lowered shares of Perimeter Solutions from a “hold (c-)” rating to a “sell (d-)” rating in a research report on Monday. Zacks Research cut shares of Perimeter Solutions from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 17th. Finally, Morgan Stanley set a $35.00 target price on Perimeter Solutions in a report on Monday, December 15th. One research analyst has rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $30.50.

Perimeter Solutions Price Performance

PRM stock traded down $0.04 during trading on Wednesday, hitting $24.32. The company had a trading volume of 298,011 shares, compared to its average volume of 926,749. The company has a fifty day moving average price of $27.12 and a two-hundred day moving average price of $25.00. Perimeter Solutions has a fifty-two week low of $8.76 and a fifty-two week high of $29.88. The company has a market cap of $3.63 billion, a P/E ratio of -17.13 and a beta of 1.98. The company has a current ratio of 2.22, a quick ratio of 1.72 and a debt-to-equity ratio of 0.61.

Perimeter Solutions (NYSE:PRM) last issued its quarterly earnings data on Thursday, February 26th. The company reported $0.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.09 by $0.04. Perimeter Solutions had a positive return on equity of 17.68% and a negative net margin of 31.61%.The company had revenue of $102.75 million during the quarter, compared to analysts’ expectations of $94.05 million. Equities research analysts expect that Perimeter Solutions will post 0.71 earnings per share for the current fiscal year.

Insider Activity

In other news, CFO Kyle Sable sold 100,000 shares of the stock in a transaction that occurred on Friday, December 12th. The shares were sold at an average price of $28.47, for a total transaction of $2,847,000.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 10.00% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of PRM. Principal Financial Group Inc. raised its position in shares of Perimeter Solutions by 0.5% during the third quarter. Principal Financial Group Inc. now owns 11,012,789 shares of the company’s stock worth $246,577,000 after acquiring an additional 57,244 shares during the last quarter. Vanguard Group Inc. increased its position in Perimeter Solutions by 1.9% in the fourth quarter. Vanguard Group Inc. now owns 8,570,699 shares of the company’s stock worth $235,951,000 after purchasing an additional 156,788 shares during the period. Dimensional Fund Advisors LP raised its holdings in Perimeter Solutions by 4.5% during the 3rd quarter. Dimensional Fund Advisors LP now owns 5,145,141 shares of the company’s stock worth $115,188,000 after purchasing an additional 221,290 shares during the last quarter. Janus Henderson Group PLC lifted its position in Perimeter Solutions by 54.9% during the 4th quarter. Janus Henderson Group PLC now owns 3,691,773 shares of the company’s stock valued at $101,634,000 after purchasing an additional 1,308,602 shares during the period. Finally, Geode Capital Management LLC lifted its position in Perimeter Solutions by 3.7% during the 4th quarter. Geode Capital Management LLC now owns 3,421,820 shares of the company’s stock valued at $94,218,000 after purchasing an additional 122,435 shares during the period. 89.93% of the stock is currently owned by institutional investors.

Perimeter Solutions Company Profile

Perimeter Solutions Ltd. (NYSE: PRM) is a global specialty chemicals company focused on delivering performance-driven solutions for the oil and gas, coatings, plastics, water treatment and packaging markets. Established as an independent publicly traded company in December 2019 following its spin-off from NewMarket Corporation, Perimeter Solutions has positioned itself as a leading provider of highly engineered chemical products designed to optimize upstream oil recovery, protect infrastructure and enhance the performance of industrial processes.

The company’s core product portfolio spans several key segments.