Morgan Stanley Reiterates Perimeter Solutions (PRM) Overweight Recommendation

Fintel reports that on July 31, 2023, Morgan Stanley reiterated coverage of Perimeter Solutions (NYSE:PRM) with a Overweight recommendation.

Analyst Price Forecast Suggests 101.80% Upside

As of July 6, 2023, the average one-year price target for Perimeter Solutions is 11.22. The forecasts range from a low of 10.10 to a high of $12.60. The average price target represents an increase of 101.80% from its latest reported closing price of 5.56.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for Perimeter Solutions is 494MM, an increase of 42.61%. The projected annual non-GAAP EPS is 0.29.

What is the Fund Sentiment?

There are 273 funds or institutions reporting positions in Perimeter Solutions. This is an increase of 14 owner(s) or 5.41% in the last quarter. Average portfolio weight of all funds dedicated to PRM is 0.21%, a decrease of 6.66%. Total shares owned by institutions increased in the last three months by 2.67% to 175,962K shares. The put/call ratio of PRM is 0.08, indicating a bullish outlook.

What are Other Shareholders Doing?

Windacre Partnership holds 21,600K shares representing 13.75% ownership of the company. No change in the last quarter.

Select Equity Group holds 15,843K shares representing 10.09% ownership of the company. In it's prior filing, the firm reported owning 16,040K shares, representing a decrease of 1.24%. The firm decreased its portfolio allocation in PRM by 17.37% over the last quarter.

Principal Financial Group holds 10,864K shares representing 6.92% ownership of the company. In it's prior filing, the firm reported owning 10,961K shares, representing a decrease of 0.89%. The firm decreased its portfolio allocation in PRM by 16.81% over the last quarter.

Jpmorgan Chase holds 8,053K shares representing 5.13% ownership of the company. In it's prior filing, the firm reported owning 6,366K shares, representing an increase of 20.95%. The firm increased its portfolio allocation in PRM by 3.34% over the last quarter.

PMSBX - MidCap Fund (f holds 8,021K shares representing 5.11% ownership of the company. In it's prior filing, the firm reported owning 2,884K shares, representing an increase of 64.05%. The firm increased its portfolio allocation in PRM by 4,738.24% over the last quarter.

Perimeter Solutions Background Information
(This description is provided by the company.)

Headquartered in St. Louis, Missouri, Perimeter Solutions is a premier global solutions provider, producing high-quality firefighting products and lubricant additives. The company develops products that impact critically important issues of life – issues where there often is no room for error and the job doesn’t offer second chances. Perimeter characterizes the solutions it develops as ‘Solutions that Save’ – because it underscores what Perimeter is trying to accomplish for its customers and the world at large. Perimeter Solutions produces major brands known throughout the world like PHOS-CHEK® and FIRE-TROL® retardant, foam concentrates and gel products; AUXQUIMIA® and SOLBERG® firefighting foam concentrates; and BIOGEMA® extinguishing agents and retardants.

Additional reading:

• Form of 2021 Stock Option Agreement (As Amended).
• Form of 2022 Stock Option Agreement (As Amended).
• Form of 2023 Stock Option Agreement
• Perimeter Solutions Reports First Quarter 2023 Financial Results
• Employment Agreement, dated as of March 8, 2023 by and between Perimeter Solutions, SA and Haitham Khouri.

This story originally appeared on Fintel.