Perimeter Solutions (NYSE:PRM) Reaches New 12-Month High After Analyst Upgrade

Perimeter Solutions, SA (NYSE:PRM - Get Free Report)'s stock price hit a new 52-week high during mid-day trading on Wednesday after UBS Group raised their price target on the stock from $15.00 to $20.00. UBS Group currently has a buy rating on the stock. Perimeter Solutions traded as high as $15.81 and last traded at $15.66, with a volume of 370295 shares trading hands. The stock had previously closed at $15.28.

A number of other equities research analysts also recently weighed in on the company. Wall Street Zen downgraded Perimeter Solutions from a "buy" rating to a "hold" rating in a research report on Thursday, May 22nd. Morgan Stanley cut their target price on shares of Perimeter Solutions from $18.00 to $17.00 and set an "overweight" rating for the company in a research note on Friday, May 16th.

Insider Activity at Perimeter Solutions

In other Perimeter Solutions news, major shareholder Windacre Partnership Master Fu bought 254,600 shares of the stock in a transaction on Friday, June 27th. The stock was purchased at an average price of $13.98 per share, with a total value of $3,559,308.00. Following the acquisition, the insider owned 21,854,600 shares of the company's stock, valued at approximately $305,527,308. The trade was a 1.18% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Vivek Raj sold 100,000 shares of Perimeter Solutions stock in a transaction on Monday, May 19th. The stock was sold at an average price of $11.78, for a total transaction of $1,178,000.00. Following the sale, the director directly 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 disclosure for this sale can be found here. Insiders sold a total of 303,094 shares of company stock valued at $3,587,021 in the last 90 days. 10.00% of the stock is currently owned by corporate insiders.

Institutional Trading of Perimeter Solutions

Institutional investors have recently bought and sold shares of the business. Lingohr Asset Management GmbH acquired a new position in shares of Perimeter Solutions during the 2nd quarter worth about $221,000. Strs Ohio bought a new position in Perimeter Solutions in the 1st quarter valued at about $328,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings 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 acquiring an additional 14,949 shares during the period. TenCore Partners LP bought a new position in Perimeter Solutions in the 1st quarter valued at about $3,174,000. Finally, Repertoire Partners LP bought a new position in shares of Perimeter Solutions during the first quarter worth approximately $519,000. Institutional investors and hedge funds own 89.93% of the company's stock.

Perimeter Solutions Price Performance

The company's fifty day moving average price is $12.78 and its 200 day moving average price is $11.67. The company has a market capitalization of $2.41 billion, a P/E ratio of 20.66 and a beta of 1.95. The company has a quick ratio of 3.56, a current ratio of 5.23 and a debt-to-equity ratio of 0.55.

Perimeter Solutions (NYSE:PRM - Get Free Report) last announced its earnings results on Thursday, May 8th. The company reported $0.03 EPS for the quarter, topping the consensus estimate of ($0.09) by $0.12. Perimeter Solutions had a net margin of 23.23% and a negative return on equity of 4.33%. The company had revenue of $72.03 million for the quarter, compared to analysts' expectations of $75.00 million. As a group, sell-side analysts forecast that Perimeter Solutions, SA will post 0.71 EPS for the current year.

Perimeter Solutions Company Profile

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.