Perimeter Solutions (NYSE:PRM) Stock Gets Price Target Trim from JPMorgan Chase & Co.

Perimeter Solutions (NYSE:PRM) had its price target lowered by JPMorgan Chase & Co. from $45.00 to $40.00 in a research note published on Tuesday morning,Benzinga reports. The firm currently has an overweight rating on the stock.

A number of other brokerages have also recently commented on PRM. Weiss Ratings cut shares of Perimeter Solutions from a “sell (d+)” rating to a “sell (d)” rating in a research note on Monday, September 28th. UBS Group lowered their price objective on Perimeter Solutions from $42.00 to $38.00 and set a “buy” rating on the stock in a research note on Tuesday, September 29th. Zacks Research cut Perimeter Solutions from a “hold” rating to a “strong sell” rating in a report on Monday, August 10th. Finally, Wall Street Zen cut 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 and two have given a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $41.50.

Perimeter Solutions Price Performance

NYSE:PRM opened at $27.33 on Tuesday. The company has a 50-day moving average of $30.51 and a 200-day moving average of $31.43. The company has a market capitalization of $4.47 billion, a price-to-earnings ratio of -12.26 and a beta of 1.92. Perimeter Solutions has a 52 week low of $19.70 and a 52 week high of $38.17. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.93 and a current ratio of 1.57.

Perimeter Solutions (NYSE:PRM) last issued its earnings results on Friday, July 31st. The company reported $0.35 earnings per share 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 19.15%. The business had revenue of $213.81 million for the quarter, compared to analyst estimates of $216.89 million. As a group, equities research analysts anticipate that Perimeter Solutions will post 1.54 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Perimeter Solutions

Hedge funds have recently made changes to their positions in the company. Sei Investments Co. boosted its position in Perimeter Solutions by 100.1% in the first quarter. Sei Investments Co. now owns 90,407 shares of the company’s stock valued at $2,208,000 after buying an additional 45,227 shares in the last quarter. Bessemer Group Inc. increased its holdings in shares of Perimeter Solutions by 61.2% during the first quarter. Bessemer Group Inc. now owns 1,064,925 shares of the company’s stock worth $26,006,000 after buying an additional 404,417 shares in the last quarter. Guardian Wealth Advisors LLC NC increased its holdings in shares of Perimeter Solutions by 166.7% during the second quarter. Guardian Wealth Advisors LLC NC now owns 115,498 shares of the company’s stock worth $3,185,000 after buying an additional 72,196 shares in the last quarter. Bank of America Corp DE raised its stake in shares of Perimeter Solutions by 4.8% in the first quarter. Bank of America Corp DE now owns 1,738,095 shares of the company’s stock valued at $42,444,000 after acquiring an additional 79,083 shares during the last quarter. Finally, Squarepoint Ops LLC raised its stake in shares of Perimeter Solutions by 101.2% in the second quarter. Squarepoint Ops LLC now owns 166,187 shares of the company’s stock valued at $5,925,000 after acquiring an additional 83,581 shares during the last quarter. Institutional investors and hedge funds own 89.93% of the company’s stock.

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.