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

Perimeter Solutions, SA (NYSE:PRM - Get Free Report)'s stock price hit a new 52-week high 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.

Several other equities analysts have also commented on the stock. Morgan Stanley dropped their price target on shares of Perimeter Solutions from $18.00 to $17.00 and set an "overweight" rating for the company in a research report on Friday, May 16th. Wall Street Zen lowered shares of Perimeter Solutions from a "buy" rating to a "hold" rating in a research report on Thursday, May 22nd.

Insider Buying and Selling at Perimeter Solutions

In other news, major shareholder Windacre Partnership Master Fu bought 254,600 shares of the firm's stock in a transaction dated Friday, June 27th. The stock was acquired at an average cost of $13.98 per share, for a total transaction of $3,559,308.00. Following the completion of the purchase, the insider owned 21,854,600 shares of the company's stock, valued at $305,527,308. This trade represents a 1.18% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Vivek Raj sold 32,000 shares of the stock in a transaction on Wednesday, May 21st. The shares were sold at an average price of $11.70, for a total transaction of $374,400.00. Following the transaction, the director owned 68,132 shares in the company, valued at $797,144.40. This trade represents a 31.96% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 303,094 shares of company stock valued at $3,587,021 in the last three months. Company insiders own 10.00% of the company's stock.

Hedge Funds Weigh In On Perimeter Solutions

Several large investors have recently bought and sold shares of the stock. Teacher Retirement System of Texas boosted its position in shares of Perimeter Solutions by 21.0% during the 1st quarter. Teacher Retirement System of Texas now owns 249,091 shares of the company's stock valued at $2,508,000 after purchasing an additional 43,247 shares in the last quarter. Wealth Enhancement Advisory Services LLC bought a new position in shares of Perimeter Solutions during the 1st quarter valued at about $3,479,000. SG Americas Securities LLC boosted its position in shares of Perimeter Solutions by 59.7% during the 1st quarter. SG Americas Securities LLC now owns 93,811 shares of the company's stock valued at $945,000 after purchasing an additional 35,078 shares in the last quarter. Oppenheimer Asset Management Inc. boosted its position in shares of Perimeter Solutions by 15.6% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 54,573 shares of the company's stock valued at $550,000 after purchasing an additional 7,347 shares in the last quarter. Finally, Proficio Capital Partners LLC acquired a new position in shares of Perimeter Solutions in the fourth quarter worth about $301,000. Institutional investors and hedge funds own 89.93% of the company's stock.

Perimeter Solutions Stock Performance

The firm's fifty day simple moving average is $12.90 and its 200 day simple moving average is $11.69. The company has a market capitalization of $2.38 billion, a price-to-earnings ratio of 20.40 and a beta of 1.95. The company has a debt-to-equity ratio of 0.55, a current ratio of 5.23 and a quick ratio of 3.56.

Perimeter Solutions (NYSE:PRM - Get Free Report) last posted its quarterly 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. The business had revenue of $72.03 million during the quarter, compared to analysts' expectations of $75.00 million. Perimeter Solutions had a net margin of 23.23% and a negative return on equity of 4.33%. On average, 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.