Perimeter Solutions (NYSE:PRM) Reaches New 1-Year High – Should You Buy?

Shares of Perimeter Solutions, SA (NYSE:PRM) hit a new 52-week high on Wednesday . The stock traded as high as $27.76 and last traded at $27.80, with a volume of 168300 shares changing hands. The stock had previously closed at $27.36.

Wall Street Analysts Forecast Growth

Several research firms have commented on PRM. Zacks Research upgraded Perimeter Solutions from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 24th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Perimeter Solutions in a research note on Wednesday, October 8th. UBS Group raised their price target on shares of Perimeter Solutions from $21.00 to $25.00 and gave the company a “buy” rating in a research report on Tuesday, September 30th. Finally, Morgan Stanley reiterated an “overweight” rating and issued a $27.00 price objective on shares of Perimeter Solutions in a research report on Friday, October 17th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Perimeter Solutions has a consensus rating of “Buy” and a consensus target price of $26.00.

Perimeter Solutions Stock Performance

The company has a current ratio of 2.22, a quick ratio of 1.72 and a debt-to-equity ratio of 0.61. The stock has a market capitalization of $4.10 billion, a PE ratio of 65.99 and a beta of 1.98. The firm’s fifty day moving average is $23.24 and its 200-day moving average is $18.67.

Perimeter Solutions (NYSE:PRM) last announced its quarterly earnings data on Thursday, October 30th. The company reported $0.82 earnings per share for the quarter, beating analysts’ consensus estimates of $0.68 by $0.14. Perimeter Solutions had a net margin of 12.26% and a return on equity of 17.33%. The firm had revenue of $315.44 million during the quarter, compared to analysts’ expectations of $238.27 million. As a group, research analysts anticipate that Perimeter Solutions, SA will post 0.71 earnings per share for the current year.

Insider Buying and Selling at Perimeter Solutions

In related news, Director Vivek Raj sold 25,000 shares of the firm’s stock in a transaction dated Thursday, September 11th. The shares were sold at an average price of $22.45, for a total value of $561,250.00. Following the completion of the sale, the director owned 121,701 shares in the company, valued at $2,732,187.45. This trade represents a 17.04% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Kyle Sable sold 40,000 shares of the stock in a transaction that occurred on Friday, September 5th. The shares were sold at an average price of $22.05, for a total transaction of $882,000.00. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 365,000 shares of company stock valued at $8,127,250. 10.00% of the stock is owned by company insiders.

Hedge Funds Weigh In On Perimeter Solutions

A number of institutional investors have recently added to or reduced their stakes in PRM. GAMMA Investing LLC boosted its position in shares of Perimeter Solutions by 16.4% during the third quarter. GAMMA Investing LLC now owns 3,577 shares of the company’s stock worth $80,000 after buying an additional 504 shares during the period. Comerica Bank raised its holdings in shares of Perimeter Solutions by 12.2% in the 3rd quarter. Comerica Bank now owns 5,019 shares of the company’s stock worth $112,000 after purchasing an additional 547 shares in the last quarter. Templeton & Phillips Capital Management LLC raised its position in shares of Perimeter Solutions by 0.5% during the second quarter. Templeton & Phillips Capital Management LLC now owns 189,919 shares of the company’s stock worth $2,644,000 after purchasing an additional 920 shares during the period. Jones Financial Companies Lllp purchased a new stake in Perimeter Solutions during the third quarter valued at about $27,000. Finally, Cullen Frost Bankers Inc. grew its position in Perimeter Solutions by 161.2% during the 2nd quarter. Cullen Frost Bankers Inc. now owns 3,124 shares of the company’s stock worth $43,000 after purchasing an additional 1,928 shares in the last quarter. Institutional investors and hedge funds 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.