Perimeter Solutions (NYSE:PRM) Hits New 12-Month High – Should You Buy?

Perimeter Solutions, SA (NYSE:PRM) shares reached a new 52-week high on Friday . The company traded as high as $38.17 and last traded at $37.7460, with a volume of 41693 shares traded. The stock had previously closed at $37.35.

Analysts Set New Price Targets

A number of analysts have recently issued reports on PRM shares. Zacks Research cut shares of Perimeter Solutions from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 10th. Morgan Stanley upped their target price 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. JPMorgan Chase & Co. cut their price target on Perimeter Solutions from $50.00 to $45.00 and set an “overweight” rating for the company in a research note on Monday. Wall Street Zen cut Perimeter Solutions from a “buy” rating to a “hold” rating in a report on Sunday, July 12th. Finally, UBS Group boosted their price objective on Perimeter Solutions from $30.00 to $34.00 and gave the company a “buy” rating in a research report on Thursday, May 7th. Four analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, Perimeter Solutions currently has a consensus rating of “Moderate Buy” and an average target price of $41.75.

Perimeter Solutions Stock Performance

The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.61 and a current ratio of 1.57. The company has a market capitalization of $6.11 billion, a P/E ratio of -16.75 and a beta of 1.91. The business’s fifty day simple moving average is $34.13 and its 200-day simple moving average is $29.50.

Perimeter Solutions (NYSE:PRM) last announced its quarterly earnings results on Friday, July 31st. The company reported $0.35 EPS for the quarter, missing the consensus estimate of $0.43 by ($0.08). Perimeter Solutions had a positive return on equity of 19.15% and a negative net margin of 44.86%.The company had revenue of $213.81 million during the quarter, compared to analysts’ expectations of $216.89 million. As a group, equities analysts anticipate that Perimeter Solutions, SA will post 1.58 earnings per share for the current fiscal year.

Insider Transactions at Perimeter Solutions

In related news, CEO Haitham Khouri sold 117,511 shares of the stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $31.19, for a total transaction of $3,665,168.09. Following the completion of the transaction, the chief executive officer directly owned 1,874,615 shares of the company’s stock, valued at approximately $58,469,241.85. This represents a 5.90% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Kyle Sable sold 49,540 shares of the firm’s stock in a transaction that occurred on Wednesday, May 13th. The shares were sold at an average price of $33.09, for a total value of $1,639,278.60. Following the transaction, the chief financial officer owned 49,540 shares of the company’s stock, valued at $1,639,278.60. This represents a 50.00% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 6,189,014 shares of company stock valued at $211,248,393 over the last three months. Corporate insiders own 13.10% of the company’s stock.

Institutional Investors Weigh In On Perimeter Solutions

Several large investors have recently bought and sold shares of the business. Abacus Wealth Partners LLC purchased a new position in shares of Perimeter Solutions in the 4th quarter worth $523,000. Universal Beteiligungs und Servicegesellschaft mbH raised its position in shares of Perimeter Solutions by 239.0% during the 4th quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 54,900 shares of the company’s stock valued at $1,524,000 after buying an additional 38,703 shares in the last quarter. Tudor Investment Corp ET AL raised its position in shares of Perimeter Solutions by 395.5% during the 3rd quarter. Tudor Investment Corp ET AL now owns 144,893 shares of the company’s stock valued at $3,244,000 after buying an additional 115,653 shares in the last quarter. Argos Wealth Advisors LLC bought a new stake in shares of Perimeter Solutions in the 4th quarter valued at approximately $961,000. Finally, Bessemer Group Inc. increased its position in shares of Perimeter Solutions by 61.2% during the 1st quarter. Bessemer Group Inc. now owns 1,064,925 shares of the company’s stock valued at $26,006,000 after purchasing an additional 404,417 shares during the last quarter. Institutional investors own 89.93% of the company’s stock.

Perimeter Solutions Company Profile

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.