Perimeter Solutions (NYSE:PRM) Given New $45.00 Price Target at JPMorgan Chase & Co.

Perimeter Solutions (NYSE:PRM) had its price target reduced by investment analysts at JPMorgan Chase & Co. from $50.00 to $45.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s target price would indicate a potential upside of 49.18% from the stock’s current price.

Several other analysts have also issued reports on the stock. CJS Securities started coverage on shares of Perimeter Solutions in a research report on Tuesday, June 9th. They set a “market outperform” rating and a $48.00 target price for the company. Weiss Ratings upgraded shares of Perimeter Solutions from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday. Zacks Research lowered Perimeter Solutions from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 10th. UBS Group lifted their target price on Perimeter Solutions from $30.00 to $34.00 and gave the company a “buy” rating in a research report on Thursday, May 7th. Finally, Wall Street Zen lowered Perimeter Solutions from a “buy” rating to a “hold” rating in a report on Sunday, July 12th. Four investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $41.75.

Perimeter Solutions Stock Down 1.5%

NYSE PRM traded down $0.45 during trading hours on Monday, reaching $30.16. 1,316,366 shares of the company’s stock traded hands, compared to its average volume of 1,317,680. Perimeter Solutions has a 52-week low of $15.62 and a 52-week high of $38.17. The company has a debt-to-equity ratio of 1.01, a current ratio of 3.09 and a quick ratio of 1.61. The firm has a 50-day simple moving average of $33.94 and a 200 day simple moving average of $29.35. The firm has a market cap of $4.92 billion, a PE ratio of -13.55 and a beta of 1.90.

Perimeter Solutions (NYSE:PRM) last released its earnings results on Friday, July 31st. The company reported $0.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.08). Perimeter Solutions had a negative net margin of 44.86% and a positive return on equity of 18.61%. The business had revenue of $213.81 million for the quarter, compared to analysts’ expectations of $216.89 million. Sell-side analysts anticipate that Perimeter Solutions will post 1.66 EPS for the current fiscal year.

Insider Activity at Perimeter Solutions

In other Perimeter Solutions news, CEO Haitham Khouri sold 117,511 shares of Perimeter Solutions stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $31.19, for a total value of $3,665,168.09. Following the sale, the chief executive officer directly owned 1,874,615 shares in the company, valued at approximately $58,469,241.85. The trade was a 5.90% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder Windacre Partnership Llc sold 3,393,479 shares of the firm’s stock in a transaction dated Friday, June 26th. The shares were sold at an average price of $34.66, for a total value of $117,617,982.14. Following the transaction, the insider owned 18,461,121 shares of the company’s stock, valued at approximately $639,862,453.86. The trade was a 15.53% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 6,385,514 shares of company stock valued at $217,464,393. Insiders own 13.10% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Financial Management Professionals Inc. purchased a new position in shares of Perimeter Solutions during the 2nd quarter worth approximately $26,000. Arax Advisory Partners raised its position in Perimeter Solutions by 122.8% during the 4th quarter. Arax Advisory Partners now owns 1,047 shares of the company’s stock worth $29,000 after buying an additional 577 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its stake in shares of Perimeter Solutions by 51.6% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,143 shares of the company’s stock worth $31,000 after buying an additional 389 shares in the last quarter. EverSource Wealth Advisors LLC acquired a new stake in shares of Perimeter Solutions during the second quarter valued at $42,000. Finally, Comerica Bank increased its position in Perimeter Solutions by 45.0% during the 1st quarter. Comerica Bank now owns 4,267 shares of the company’s stock worth $43,000 after purchasing an additional 1,324 shares in the last quarter. Hedge funds and other institutional investors own 89.93% of the company’s stock.

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.