Perimeter Solutions (NYSE:PRM) Sets New 1-Year High – Time to Buy?
by Jessica Moore · The Cerbat GemShares of Perimeter Solutions, SA (NYSE:PRM – Get Free Report) hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $29.97 and last traded at $30.02, with a volume of 101363 shares traded. The stock had previously closed at $29.39.
Analyst Ratings Changes
A number of analysts recently weighed in on PRM shares. Weiss Ratings downgraded Perimeter Solutions from a “hold (c-)” rating to a “sell (d-)” rating in a research note on Monday, March 2nd. UBS Group raised Perimeter Solutions from a “neutral” rating to a “buy” rating and raised their target price for the company from $26.00 to $30.00 in a report on Tuesday, March 31st. Finally, Zacks Research raised shares of Perimeter Solutions from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, April 14th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $32.50.
View Our Latest Research Report on PRM
Perimeter Solutions Stock Performance
The stock’s 50-day moving average price is $24.78 and its 200-day moving average price is $25.70. The company has a market capitalization of $5.02 billion, a price-to-earnings ratio of -21.68 and a beta of 1.90. The company has a debt-to-equity ratio of 0.60, a quick ratio of 2.42 and a current ratio of 3.22.
Perimeter Solutions (NYSE:PRM – Get Free Report) last released its quarterly earnings data on Friday, February 27th. The company reported $0.13 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.04. The firm had revenue of $102.75 million during the quarter, compared to the consensus estimate of $94.05 million. Perimeter Solutions had a positive return on equity of 17.82% and a negative net margin of 31.61%. As a group, equities research analysts expect that Perimeter Solutions, SA will post 1.47 earnings per share for the current year.
Insider Buying and Selling at Perimeter Solutions
In other news, Director William N. Thorndike, Jr. sold 125,000 shares of Perimeter Solutions stock in a transaction on Monday, March 9th. The stock was sold at an average price of $23.37, for a total transaction of $2,921,250.00. Following the completion of the transaction, the director owned 8,735,656 shares of the company’s stock, valued at $204,152,280.72. The trade was a 1.41% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders sold a total of 450,000 shares of company stock valued at $10,722,750 in the last three months. Company insiders own 10.00% of the company’s stock.
Hedge Funds Weigh In On Perimeter Solutions
Several hedge funds have recently added to or reduced their stakes in the business. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Perimeter Solutions by 51.6% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,143 shares of the company’s stock valued at $31,000 after purchasing an additional 389 shares in the last quarter. GAMMA Investing LLC increased its stake in shares of Perimeter Solutions by 16.4% during the 3rd quarter. GAMMA Investing LLC now owns 3,577 shares of the company’s stock worth $80,000 after purchasing an additional 504 shares in the last quarter. Allworth Financial LP raised its position in shares of Perimeter Solutions by 14.1% during the 4th quarter. Allworth Financial LP now owns 4,100 shares of the company’s stock worth $113,000 after purchasing an additional 508 shares during the last quarter. Comerica Bank raised its position in shares of Perimeter Solutions by 12.2% during the 3rd quarter. Comerica Bank now owns 5,019 shares of the company’s stock worth $112,000 after purchasing an additional 547 shares during the last quarter. Finally, Arax Advisory Partners lifted its stake in Perimeter Solutions by 122.8% in the 4th quarter. Arax Advisory Partners now owns 1,047 shares of the company’s stock valued at $29,000 after buying an additional 577 shares in the last quarter. 89.93% of the stock is currently owned by hedge funds and other institutional investors.
About Perimeter Solutions
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.