Perimeter Solutions, SA (NYSE:PRM) Receives Average Rating of “Hold” from Analysts

Perimeter Solutions, SA (NYSE:PRM) has received an average rating of “Hold” from the six analysts that are presently covering the firm, Marketbeat Ratings reports. Two analysts have rated the stock with a sell rating and four have assigned a buy rating to the company. The average 1-year target price among brokers that have covered the stock in the last year is $41.75.

A number of research firms have recently weighed in on PRM. Weiss Ratings cut shares of Perimeter Solutions from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Wednesday, August 12th. Morgan Stanley raised their price objective on shares of Perimeter Solutions from $35.00 to $40.00 and gave the company an “overweight” rating in a research note on Monday, May 11th. CJS Securities assumed coverage on shares of Perimeter Solutions in a report on Tuesday, June 9th. They set a “market outperform” rating and a $48.00 price objective on the stock. Wall Street Zen downgraded shares of Perimeter Solutions from a “buy” rating to a “hold” rating in a report on Sunday, July 12th. Finally, JPMorgan Chase & Co. lowered their target price on shares of Perimeter Solutions from $50.00 to $45.00 and set an “overweight” rating on the stock in a research report on Monday, August 3rd.

Insider Activity at Perimeter Solutions

In related news, major shareholder Windacre Partnership Llc sold 1,875,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 30th. The stock was sold at an average price of $33.90, for a total value of $63,562,500.00. Following the sale, the insider owned 16,148,621 shares in the company, valued at $547,438,251.90. This represents a 10.40% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Over the last 90 days, insiders sold 5,705,979 shares of company stock worth $195,617,982. 13.10% of the stock is owned by insiders.

Hedge Funds Weigh In On Perimeter Solutions

Hedge funds and other institutional investors have recently bought and sold shares of the company. Comerica Bank grew its holdings in Perimeter Solutions by 45.0% in the first quarter. Comerica Bank now owns 4,267 shares of the company’s stock valued at $43,000 after purchasing an additional 1,324 shares during the last quarter. Royal Bank of Canada raised its stake in shares of Perimeter Solutions by 100.0% during the 1st quarter. Royal Bank of Canada now owns 80,608 shares of the company’s stock worth $812,000 after buying an additional 40,294 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Perimeter Solutions by 4.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 79,546 shares of the company’s stock worth $801,000 after buying an additional 3,428 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of Perimeter Solutions by 4.8% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 328,188 shares of the company’s stock worth $3,305,000 after buying an additional 14,949 shares in the last quarter. Finally, American Century Companies Inc. acquired a new stake in Perimeter Solutions in the 2nd quarter valued at about $2,128,000. 89.93% of the stock is owned by institutional investors and hedge funds.

Perimeter Solutions Stock Up 1.3%

Perimeter Solutions stock opened at $31.48 on Friday. The stock’s 50 day moving average price is $34.35 and its 200 day moving average price is $29.92. Perimeter Solutions has a 1-year low of $18.68 and a 1-year high of $38.17. The company has a market cap of $5.15 billion, a PE ratio of -14.12 and a beta of 1.91. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.57 and a quick ratio of 0.93.

Perimeter Solutions (NYSE:PRM) last released its quarterly earnings data on Friday, July 31st. The company reported $0.35 earnings per share (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 business had revenue of $213.81 million during the quarter, compared to analysts’ expectations of $216.89 million. On average, sell-side analysts predict that Perimeter Solutions will post 1.54 EPS for the current fiscal year.

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.