Morgan Stanley Issues Pessimistic Forecast for Perimeter Solutions (NYSE:PRM) Stock Price

Perimeter Solutions (NYSE:PRM) had its price objective lowered by equities research analysts at Morgan Stanley from $18.00 to $17.00 in a note issued to investors on Friday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Morgan Stanley’s price target points to a potential upside of 42.71% from the stock’s current price.

Separately, UBS Group upgraded Perimeter Solutions from a “neutral” rating to a “buy” rating and set a $14.00 price target on the stock in a research report on Wednesday, March 26th.

Perimeter Solutions Stock Down 0.5%

Perimeter Solutions stock opened at $11.91 on Friday. The firm has a market cap of $1.76 billion, a price-to-earnings ratio of -85.08 and a beta of 1.88. Perimeter Solutions has a 52 week low of $7.00 and a 52 week high of $14.44. The business’s 50-day moving average price is $10.12 and its 200 day moving average price is $11.59. The company has a quick ratio of 2.95, a current ratio of 3.91 and a debt-to-equity ratio of 0.67.

Perimeter Solutions (NYSE:PRM) last posted its earnings results on Thursday, May 8th. The company reported $0.03 EPS for the quarter, topping the consensus estimate of ($0.09) by $0.12. The firm had revenue of $72.03 million for the quarter, compared to analyst estimates of $75.00 million. Perimeter Solutions had a negative return on equity of 7.62% and a negative net margin of 1.05%. As a group, sell-side analysts anticipate that Perimeter Solutions will post 0.71 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Vivek Raj sold 250,000 shares of the firm’s stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $9.17, for a total value of $2,292,500.00. Following the transaction, the director now 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 transaction was disclosed in a legal filing with the SEC, which is available through this link. Over the last 90 days, insiders have sold 352,284 shares of company stock worth $3,512,410. 8.70% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Perimeter Solutions

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Principal Financial Group Inc. lifted its position in shares of Perimeter Solutions by 2.0% in the first quarter. Principal Financial Group Inc. now owns 10,912,291 shares of the company’s stock valued at $109,887,000 after acquiring an additional 218,002 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Perimeter Solutions by 1.8% in the first quarter. Vanguard Group Inc. now owns 8,358,929 shares of the company’s stock valued at $84,174,000 after acquiring an additional 147,336 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of Perimeter Solutions by 19.9% in the fourth quarter. JPMorgan Chase & Co. now owns 5,856,611 shares of the company’s stock valued at $74,847,000 after acquiring an additional 971,623 shares in the last quarter. Corient Private Wealth LLC purchased a new position in shares of Perimeter Solutions in the fourth quarter valued at approximately $41,780,000. Finally, Dimensional Fund Advisors LP lifted its position in shares of Perimeter Solutions by 22.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,113,380 shares of the company’s stock valued at $39,789,000 after acquiring an additional 579,987 shares in the last quarter. 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.