Perimeter Solutions (NYSE:PRM) Earns Overweight Rating from Analysts at JPMorgan Chase & Co.

Investment analysts at JPMorgan Chase & Co. assumed coverage on shares of Perimeter Solutions (NYSE:PRM) in a research report issued to clients and investors on Thursday,Benzinga reports. The firm set an “overweight” rating and a $50.00 price target on the stock. JPMorgan Chase & Co.‘s price target would indicate a potential upside of 47.82% from the stock’s previous close.

Other research analysts also recently issued reports about the stock. Morgan Stanley raised their price objective on shares of Perimeter Solutions from $35.00 to $40.00 and gave the stock an “overweight” rating in a report on Monday, May 11th. Wall Street Zen raised shares of Perimeter Solutions from a “hold” rating to a “buy” rating in a report on Saturday, May 9th. Weiss Ratings upgraded Perimeter Solutions from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, June 17th. Zacks Research raised Perimeter Solutions from a “hold” rating to a “strong-buy” rating in a report on Tuesday, April 14th. Finally, UBS Group lifted their price target on Perimeter Solutions from $30.00 to $34.00 and gave the company a “buy” rating in a research report on Thursday, May 7th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, Perimeter Solutions presently has an average rating of “Buy” and an average target price of $43.00.

Perimeter Solutions Trading Up 1.2%

Shares of PRM opened at $33.83 on Thursday. The business has a 50-day moving average of $33.11 and a 200 day moving average of $28.63. Perimeter Solutions has a fifty-two week low of $15.36 and a fifty-two week high of $38.17. The firm has a market cap of $5.52 billion, a P/E ratio of -25.24 and a beta of 1.90. The company has a debt-to-equity ratio of 1.01, a quick ratio of 1.61 and a current ratio of 3.09.

Perimeter Solutions (NYSE:PRM) last released its quarterly earnings data on Thursday, May 7th. The company reported $0.06 EPS for the quarter, beating the consensus estimate of $0.02 by $0.04. The business had revenue of $125.07 million for the quarter, compared to the consensus estimate of $121.80 million. Perimeter Solutions had a negative net margin of 26.93% and a positive return on equity of 18.29%. As a group, research analysts forecast that Perimeter Solutions will post 1.78 EPS for the current year.

Insider Activity at Perimeter Solutions

In other news, insider Jeffrey Emery sold 53,537 shares of the business’s stock in a transaction that occurred on Wednesday, May 13th. The stock was sold at an average price of $33.45, for a total transaction of $1,790,812.65. Following the completion of the sale, the insider owned 53,537 shares in the company, valued at $1,790,812.65. The trade was a 50.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Haitham Khouri sold 117,511 shares of Perimeter Solutions stock in a transaction that occurred on Friday, May 22nd. The stock was 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 of the company’s stock, valued at approximately $58,469,241.85. The trade was a 5.90% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 6,385,514 shares of company stock valued at $217,464,393. 13.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Perimeter Solutions

A number of hedge funds have recently bought and sold shares of PRM. Balance Capital Partners L.P. bought a new stake in shares of Perimeter Solutions in the fourth quarter valued at approximately $69,115,000. Principal Financial Group Inc. lifted its position in shares of Perimeter Solutions by 15.0% during the 1st quarter. Principal Financial Group Inc. now owns 12,513,159 shares of the company’s stock valued at $305,572,000 after acquiring an additional 1,634,158 shares during the period. Janus Henderson Group PLC lifted its position in shares of Perimeter Solutions by 54.9% during the 4th quarter. Janus Henderson Group PLC now owns 3,691,773 shares of the company’s stock valued at $101,634,000 after acquiring an additional 1,308,602 shares during the period. Invesco Ltd. grew its holdings in shares of Perimeter Solutions by 157.3% during the 4th quarter. Invesco Ltd. now owns 1,294,686 shares of the company’s stock worth $35,643,000 after purchasing an additional 791,558 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership grew its holdings in shares of Perimeter Solutions by 50.4% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 2,132,167 shares of the company’s stock worth $47,739,000 after purchasing an additional 714,816 shares in the last quarter. 89.93% of the stock is owned by institutional investors.

About Perimeter Solutions

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.