Perimeter Solutions (NYSE:PRM) Sets New 12-Month High Following Analyst Upgrade

Perimeter Solutions, SA (NYSE:PRM - Get Free Report)'s share price hit a new 52-week high on Wednesday after Wall Street Zen upgraded the stock from a hold rating to a buy rating. The company traded as high as $15.81 and last traded at $15.66, with a volume of 370295 shares. The stock had previously closed at $15.28.

PRM has been the subject of several other research reports. Morgan Stanley decreased their target price on Perimeter Solutions from $18.00 to $17.00 and set an "overweight" rating for the company in a research note on Friday, May 16th. UBS Group increased their target price on Perimeter Solutions from $15.00 to $20.00 and gave the company a "buy" rating in a research note on Wednesday.

Insider Activity at Perimeter Solutions

In other Perimeter Solutions news, Director Vivek Raj sold 100,000 shares of the company's stock in a transaction that occurred on Monday, May 19th. The stock was sold at an average price of $11.78, for a total value of $1,178,000.00. Following the completion of the transaction, the director owned 168,942 shares of the company's stock, valued at $1,990,136.76. This represents a 37.18% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, major shareholder Windacre Partnership Master Fu purchased 254,600 shares of the business's stock in a transaction on Friday, June 27th. The stock was purchased at an average cost of $13.98 per share, with a total value of $3,559,308.00. Following the acquisition, the insider owned 21,854,600 shares in the company, valued at approximately $305,527,308. This represents a 1.18% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders sold 303,094 shares of company stock valued at $3,587,021. Insiders own 10.00% of the company's stock.

Hedge Funds Weigh In On Perimeter Solutions

Hedge funds have recently modified their holdings of the stock. New York State Teachers Retirement System acquired a new position in shares of Perimeter Solutions in the 1st quarter worth approximately $123,000. Teacher Retirement System of Texas raised its holdings in shares of Perimeter Solutions by 21.0% in the 1st quarter. Teacher Retirement System of Texas now owns 249,091 shares of the company's stock worth $2,508,000 after buying an additional 43,247 shares in the last quarter. Wealth Enhancement Advisory Services LLC acquired a new position in shares of Perimeter Solutions in the 1st quarter worth approximately $3,479,000. SG Americas Securities LLC raised its holdings in shares of Perimeter Solutions by 59.7% in the 1st quarter. SG Americas Securities LLC now owns 93,811 shares of the company's stock worth $945,000 after buying an additional 35,078 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. raised its holdings in shares of Perimeter Solutions by 15.6% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 54,573 shares of the company's stock worth $550,000 after buying an additional 7,347 shares in the last quarter. 89.93% of the stock is owned by institutional investors and hedge funds.

Perimeter Solutions Stock Performance

The company has a current ratio of 5.23, a quick ratio of 3.56 and a debt-to-equity ratio of 0.55. The stock has a fifty day moving average price of $13.02 and a 200-day moving average price of $11.71. The firm has a market capitalization of $2.40 billion, a price-to-earnings ratio of 20.53 and a beta of 1.95.

Perimeter Solutions (NYSE:PRM - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The company reported $0.03 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.09) by $0.12. The firm had revenue of $72.03 million during the quarter, compared to the consensus estimate of $75.00 million. Perimeter Solutions had a negative return on equity of 4.33% and a net margin of 23.23%. As a group, analysts anticipate that Perimeter Solutions, SA will post 0.71 earnings per share for the current fiscal year.

About Perimeter Solutions

Perimeter Solutions, SA manufactures and supplies firefighting products and lubricant additives in the United States, Germany, and internationally. It operates in two segments, Fire Safety and Specialty Products. The Fire Safety segment provides fire retardants and firefighting foams, as well as specialized equipment and services for federal, state, provincial, local/municipal, and commercial customers.