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

Shares of Perimeter Solutions, SA (NYSE:PRM - Get Free Report) reached a new 52-week high during 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 changing hands. The stock had previously closed at $15.28.

Other equities analysts also recently issued reports about the stock. Wall Street Zen downgraded shares of Perimeter Solutions from a "buy" rating to a "hold" rating in a report on Thursday, May 22nd. Morgan Stanley lowered their price target on shares of Perimeter Solutions from $18.00 to $17.00 and set an "overweight" rating on the stock in a research report on Friday, May 16th.

Insider Transactions at Perimeter Solutions

In other Perimeter Solutions news, Director Vivek Raj sold 100,000 shares of the business's stock in a transaction dated Monday, May 19th. The shares were sold at an average price of $11.78, for a total value of $1,178,000.00. Following the transaction, the director directly owned 168,942 shares in the company, valued at $1,990,136.76. The trade was a 37.18% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, major shareholder Windacre Partnership Master Fu purchased 254,600 shares of Perimeter Solutions stock in a transaction dated Friday, June 27th. The stock was bought 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 directly owned 21,854,600 shares in the company, valued at approximately $305,527,308. This trade represents a 1.18% increase in their position. The disclosure for this purchase can be found here. Insiders have sold 303,094 shares of company stock worth $3,587,021 over the last 90 days. 10.00% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Perimeter Solutions

Several large investors have recently added to or reduced their stakes in PRM. Comerica Bank purchased a new stake in shares of Perimeter Solutions in the 4th quarter valued at approximately $38,000. Harbor Investment Advisory LLC boosted its holdings in shares of Perimeter Solutions by 25.6% in the 1st quarter. Harbor Investment Advisory LLC now owns 9,315 shares of the company's stock valued at $94,000 after buying an additional 1,899 shares in the last quarter. Xponance Inc. acquired a new position in shares of Perimeter Solutions in the 1st quarter valued at $101,000. Gilbert & Cook Inc. acquired a new position in shares of Perimeter Solutions in the 1st quarter valued at $104,000. Finally, New York State Teachers Retirement System acquired a new stake in Perimeter Solutions during the 1st quarter worth $123,000. 89.93% of the stock is owned by hedge funds and other institutional investors.

Perimeter Solutions Stock Performance

The stock has a market cap of $2.35 billion, a price-to-earnings ratio of 20.13 and a beta of 1.95. The stock's 50 day moving average is $12.78 and its two-hundred day moving average is $11.67. The company has a current ratio of 5.23, a quick ratio of 3.56 and a debt-to-equity ratio of 0.55.

Perimeter Solutions (NYSE:PRM - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The company reported $0.03 earnings per share for the quarter, topping analysts' consensus estimates of ($0.09) by $0.12. The firm 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%. 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.