Perimeter Solutions (NYSE:PRM) Price Target Raised to $18.00 at Morgan Stanley

Perimeter Solutions (NYSE:PRM) had its price objective boosted by Morgan Stanley from $14.00 to $18.00 in a report issued on Monday, Benzinga reports. Morgan Stanley currently has an overweight rating on the stock.

Separately, UBS Group lifted their price objective on shares of Perimeter Solutions from $8.75 to $11.00 and gave the stock a neutral rating in a research note on Friday, August 16th.

Perimeter Solutions Stock Performance

PRM stock opened at $12.66 on Monday. The company has a current ratio of 3.61, a quick ratio of 1.87 and a debt-to-equity ratio of 0.63. The business’s 50-day moving average price is $10.33 and its two-hundred day moving average price is $8.36. Perimeter Solutions has a 1-year low of $2.79 and a 1-year high of $12.75. The firm has a market cap of $1.84 billion, a PE ratio of -55.04 and a beta of 2.00.

Perimeter Solutions (NYSE:PRM) last released its earnings results on Thursday, August 1st. The company reported $0.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.03 by $0.11. The business had revenue of $127.28 million for the quarter, compared to the consensus estimate of $113.41 million. Perimeter Solutions had a positive return on equity of 2.94% and a negative net margin of 14.12%. During the same quarter in the previous year, the business earned ($0.05) earnings per share. As a group, research analysts forecast that Perimeter Solutions will post 0.49 earnings per share for the current year.

Institutional Trading of Perimeter Solutions

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PRM. Pennant Select LLC bought a new position in shares of Perimeter Solutions during the fourth quarter valued at about $2,645,000. Wellington Management Group LLP lifted its holdings in shares of Perimeter Solutions by 6.7% in the fourth quarter. Wellington Management Group LLP now owns 1,551,489 shares of the company’s stock worth $7,137,000 after buying an additional 97,372 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new position in Perimeter Solutions in the 1st quarter valued at $423,000. Simplicity Wealth LLC bought a new stake in Perimeter Solutions during the first quarter valued at $138,000. Finally, Natixis Advisors L.P. grew its holdings in shares of Perimeter Solutions by 25.9% during the fourth quarter. Natixis Advisors L.P. now owns 57,820 shares of the company’s stock worth $265,000 after purchasing an additional 11,911 shares in the last quarter. Institutional investors and hedge funds own 89.93% of the company’s stock.

Perimeter Solutions Company Profile

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.