Perimeter Solutions (NYSE:PRM) Upgraded by UBS Group to Buy Rating

UBS Group upgraded shares of Perimeter Solutions (NYSE:PRM) from a neutral rating to a buy rating in a report published on Wednesday morning, MarketBeat reports. They currently have $14.00 price objective on the stock.

Perimeter Solutions Stock Up 10.0 %

Shares of Perimeter Solutions stock opened at $10.02 on Wednesday. The company has a debt-to-equity ratio of 0.67, a quick ratio of 2.95 and a current ratio of 3.91. Perimeter Solutions has a 52-week low of $6.84 and a 52-week high of $14.44. The company’s 50 day moving average price is $11.09 and its 200-day moving average price is $12.25. The stock has a market capitalization of $1.50 billion, a price-to-earnings ratio of -71.57 and a beta of 1.93.

Perimeter Solutions (NYSE:PRM) last released its quarterly earnings data on Thursday, February 20th. The company reported $0.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.21. The firm had revenue of $86.23 million for the quarter, compared to analysts’ expectations of $77.01 million. Perimeter Solutions had a negative net margin of 1.05% and a negative return on equity of 7.62%. Equities research analysts forecast that Perimeter Solutions will post 0.71 EPS for the current year.

Insider Activity at Perimeter Solutions

In other Perimeter Solutions news, Director Vivek Raj sold 250,000 shares of the firm’s stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $9.17, for a total value of $2,292,500.00. Following the completion of the sale, the director now directly owns 471,226 shares in the company, valued at $4,321,142.42. This trade represents a 34.66 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 8.70% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Comerica Bank purchased a new position in Perimeter Solutions during the fourth quarter valued at $38,000. Quarry LP bought a new position in shares of Perimeter Solutions in the 3rd quarter worth about $52,000. McAdam LLC purchased a new position in Perimeter Solutions during the 4th quarter valued at about $131,000. Orion Portfolio Solutions LLC bought a new stake in Perimeter Solutions during the third quarter worth about $138,000. Finally, Quantinno Capital Management LP purchased a new stake in Perimeter Solutions in the fourth quarter worth about $136,000. Hedge funds and other institutional investors own 89.93% of the company’s stock.

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.