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

Perimeter Solutions (NYSE:PRM) had its price target hoisted by Morgan Stanley from $14.00 to $18.00 in a research report sent to investors on Monday, Benzinga reports. The firm currently has an overweight rating on the stock.

Separately, UBS Group increased their target price on Perimeter Solutions from $8.75 to $11.00 and gave the company a neutral rating in a report on Friday, August 16th.

Perimeter Solutions Trading Up 2.5 %

NYSE:PRM opened at $12.66 on Monday. The stock has a market cap of $1.84 billion, a price-to-earnings ratio of -55.04 and a beta of 2.00. The company has a 50-day moving average price of $10.33 and a 200-day moving average price of $8.36. Perimeter Solutions has a 12 month low of $2.79 and a 12 month high of $12.75. The company has a current ratio of 3.61, a quick ratio of 1.87 and a debt-to-equity ratio of 0.63.

Perimeter Solutions (NYSE:PRM) last released its earnings results on Thursday, August 1st. The company reported $0.14 EPS for the quarter, topping analysts’ consensus estimates of $0.03 by $0.11. The firm had revenue of $127.28 million for the quarter, compared to analysts’ expectations 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 period in the prior year, the firm posted ($0.05) earnings per share. Equities analysts predict that Perimeter Solutions will post 0.49 EPS for the current year.

Institutional Trading of Perimeter Solutions

A number of institutional investors have recently bought and sold shares of the stock. Pennant Select LLC purchased a new stake in shares of Perimeter Solutions in the fourth quarter worth approximately $2,645,000. Wellington Management Group LLP raised its holdings in shares of Perimeter Solutions by 6.7% in the 4th quarter. Wellington Management Group LLP now owns 1,551,489 shares of the company’s stock valued at $7,137,000 after purchasing an additional 97,372 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new stake in Perimeter Solutions during the first quarter worth $423,000. Simplicity Wealth LLC purchased a new stake in shares of Perimeter Solutions during the 1st quarter worth $138,000. Finally, Natixis Advisors L.P. lifted its position 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 valued at $265,000 after buying an additional 11,911 shares during the last quarter. 89.93% of the stock is currently owned by institutional investors.

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.