Perimeter Solutions, SA (NYSE:PRM) Given Consensus Recommendation of "Hold" by Brokerages

Key Points

• Analysts have a consensus “Hold” rating on Perimeter Solutions, with two sell ratings and four buy ratings; the average 12-month price target is $41.75.
• Major shareholder Windacre Partnership sold 3.39 million shares for approximately $117.6 million, while insiders have sold about $195.6 million of stock over the past three months.
• Perimeter Solutions reported quarterly EPS of $0.35, below the $0.43 consensus estimate, while revenue of $213.8 million also fell short of expectations.

Shares of Perimeter Solutions, SA (NYSE:PRM - Get Free Report) have been given a consensus recommendation of "Hold" by the six analysts that are covering the company, MarketBeat reports. Two research analysts have rated the stock with a sell rating and four have given a buy rating to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $41.75.

Several equities analysts have recently weighed in on the stock. Wall Street Zen cut shares of Perimeter Solutions from a "buy" rating to a "hold" rating in a research note on Sunday, July 12th. CJS Securities began coverage on shares of Perimeter Solutions in a research report on Tuesday, June 9th. They issued a "market outperform" rating and a $48.00 price objective on the stock. Weiss Ratings cut shares of Perimeter Solutions from a "hold (c-)" rating to a "sell (d+)" rating in a report on Wednesday, August 12th. Zacks Research downgraded shares of Perimeter Solutions from a "hold" rating to a "strong sell" rating in a research report on Monday, August 10th. Finally, JPMorgan Chase & Co. lowered their price target on shares of Perimeter Solutions from $50.00 to $45.00 and set an "overweight" rating on the stock in a research note on Monday, August 3rd.

Insider Activity at Perimeter Solutions

In other news, major shareholder Windacre Partnership Llc sold 3,393,479 shares of the firm's stock in a transaction dated Friday, June 26th. The stock was sold at an average price of $34.66, for a total value of $117,617,982.14. Following the completion of the transaction, the insider owned 18,461,121 shares in the company, valued at $639,862,453.86. This trade represents a 15.53% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In the last three months, insiders have sold 5,705,979 shares of company stock worth $195,617,982. Corporate insiders own 13.10% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Principal Financial Group Inc. raised its position in shares of Perimeter Solutions by 15.0% in the first quarter. Principal Financial Group Inc. now owns 12,513,159 shares of the company's stock valued at $305,572,000 after purchasing an additional 1,634,158 shares during the period. Wellington Management Group LLP bought a new stake in shares of Perimeter Solutions during the 2nd quarter worth about $22,162,000. Renaissance Technologies LLC grew its stake in Perimeter Solutions by 2,744.1% in the 1st quarter. Renaissance Technologies LLC now owns 591,257 shares of the company's stock valued at $14,438,000 after buying an additional 570,468 shares during the last quarter. Weitz Investment Management Inc. bought a new position in Perimeter Solutions in the 2nd quarter valued at about $16,072,000. Finally, Bessemer Group Inc. raised its holdings in Perimeter Solutions by 61.2% in the 1st quarter. Bessemer Group Inc. now owns 1,064,925 shares of the company's stock valued at $26,006,000 after acquiring an additional 404,417 shares during the period. 89.93% of the stock is owned by institutional investors and hedge funds.

Perimeter Solutions Stock Up 1.1%

PRM stock opened at $31.91 on Thursday. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.57 and a quick ratio of 0.93. The stock has a market capitalization of $5.22 billion, a P/E ratio of -14.31 and a beta of 1.90. The business has a 50-day moving average of $32.90 and a 200-day moving average of $30.57. Perimeter Solutions has a fifty-two week low of $19.70 and a fifty-two week high of $38.17.

Perimeter Solutions (NYSE:PRM - Get Free Report) last announced its earnings results on Friday, July 31st. The company reported $0.35 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.43 by ($0.08). The firm had revenue of $213.81 million during the quarter, compared to analyst estimates of $216.89 million. Perimeter Solutions had a negative net margin of 44.86% and a positive return on equity of 19.15%. On average, sell-side analysts anticipate that Perimeter Solutions will post 1.54 earnings per share for the current fiscal year.

About Perimeter Solutions

Perimeter Solutions, Inc is a specialty chemicals and fire-safety company that develops, manufactures and supplies products used in wildfire control, industrial fire protection and chemical applications. The company serves customers across North America and international markets through a portfolio of fire-safety and specialty chemical products.

Its fire-safety business provides firefighting foams, fire retardants and related solutions for wildland firefighting, aviation, military, industrial and municipal applications.

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