Perimeter Solutions (NYSE:PRM) Hits New 1-Year High - What's Next?

Key Points

• Perimeter Solutions hit a new 52-week high, trading as high as $36.95 amid heavy volume, reflecting continued momentum in the stock.
• Analysts remain broadly positive: the stock now carries a Moderate Buy consensus with an average price target of $40.67, and several firms recently raised targets or upgraded ratings.
• The company’s latest earnings beat expectations, with EPS of $0.06 versus $0.02 expected and revenue of $125.07 million, though insiders have been selling shares in recent weeks.

Perimeter Solutions, SA (NYSE:PRM - Get Free Report)'s share price reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $36.95 and last traded at $36.3640, with a volume of 1438440 shares traded. The stock had previously closed at $36.36.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Weiss Ratings upgraded shares of Perimeter Solutions from a "sell (d)" rating to a "sell (d+)" rating in a research report on Thursday, May 28th. UBS Group raised their price target on shares of Perimeter Solutions from $30.00 to $34.00 and gave the stock a "buy" rating in a report on Thursday, May 7th. CJS Securities initiated coverage on shares of Perimeter Solutions in a research note on Tuesday, June 9th. They issued a "market outperform" rating and a $48.00 price target for the company. Morgan Stanley increased their price objective on shares of Perimeter Solutions from $35.00 to $40.00 and gave the stock an "overweight" rating in a research report on Monday, May 11th. Finally, Wall Street Zen upgraded Perimeter Solutions from a "hold" rating to a "buy" rating in a research note on Saturday, May 9th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Perimeter Solutions currently has an average rating of "Moderate Buy" and a consensus target price of $40.67.

Perimeter Solutions Stock Up 0.0%

The firm has a market cap of $5.93 billion, a P/E ratio of -27.14 and a beta of 1.92. The stock's 50 day simple moving average is $30.67 and its 200 day simple moving average is $27.82. The company has a debt-to-equity ratio of 1.01, a quick ratio of 1.61 and a current ratio of 3.09.

Perimeter Solutions (NYSE:PRM - Get Free Report) last released its quarterly earnings data on Thursday, May 7th. The company reported $0.06 earnings per share for the quarter, beating analysts' consensus estimates of $0.02 by $0.04. The firm had revenue of $125.07 million for the quarter, compared to analyst estimates of $121.80 million. Perimeter Solutions had a negative net margin of 26.93% and a positive return on equity of 18.29%. Research analysts anticipate that Perimeter Solutions, SA will post 1.78 EPS for the current year.

Insider Activity at Perimeter Solutions

In other news, CEO Haitham Khouri sold 117,511 shares of the firm's stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $31.19, for a total value of $3,665,168.09. Following the transaction, the chief executive officer owned 1,874,615 shares in the company, valued at $58,469,241.85. This trade represents a 5.90% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Kyle Sable sold 150,000 shares of Perimeter Solutions stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $31.52, for a total value of $4,728,000.00. Following the transaction, the chief financial officer directly owned 20,000 shares in the company, valued at approximately $630,400. The trade was a 88.24% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 679,535 shares of company stock valued at $21,846,411. 13.10% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Perimeter Solutions

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

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