Perimeter Solutions (NYSE:PRM) Reaches New 1-Year High - Still a Buy?

Shares of Perimeter Solutions, SA (NYSE:PRM - Get Free Report) reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $16.71 and last traded at $16.70, with a volume of 995019 shares trading hands. The stock had previously closed at $16.22.

Analyst Ratings Changes

A number of equities research analysts have issued reports on PRM shares. Wall Street Zen upgraded shares of Perimeter Solutions from a "hold" rating to a "buy" rating in a report on Saturday, July 12th. Morgan Stanley decreased their price target on shares of Perimeter Solutions from $18.00 to $17.00 and set an "overweight" rating for the company in a report on Friday, May 16th. Finally, UBS Group upped their price target on shares of Perimeter Solutions from $15.00 to $20.00 and gave the company a "buy" rating in a report on Wednesday, July 9th.

Perimeter Solutions Price Performance

The company has a quick ratio of 3.56, a current ratio of 5.23 and a debt-to-equity ratio of 0.55. The stock has a market cap of $2.52 billion, a price-to-earnings ratio of 21.62 and a beta of 1.95. The company's 50-day moving average is $13.38 and its 200-day moving average is $11.78.

Perimeter Solutions (NYSE:PRM - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The company reported $0.03 earnings per share (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 firm had revenue of $72.03 million during the quarter, compared to analyst estimates of $75.00 million. Equities research analysts expect that Perimeter Solutions, SA will post 0.71 earnings per share for the current fiscal year.

Insider Activity

In other news, major shareholder Windacre Partnership Master Fu acquired 254,600 shares of the company's stock in a transaction dated Friday, June 27th. The stock was bought at an average price of $13.98 per share, with a total value of $3,559,308.00. Following the completion of 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 position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Vivek Raj sold 100,000 shares of the firm'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 transaction of $1,178,000.00. Following the sale, the director directly owned 168,942 shares of the company's stock, valued at approximately $1,990,136.76. The trade was a 37.18% decrease in their position. 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.

Institutional Trading of Perimeter Solutions

Several hedge funds have recently modified their holdings of the company. Lingohr Asset Management GmbH acquired a new stake in shares of Perimeter Solutions during the second quarter worth approximately $221,000. Strs Ohio acquired a new stake in shares of Perimeter Solutions during the first quarter worth approximately $328,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of Perimeter Solutions by 4.8% in the first 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 purchasing an additional 14,949 shares in the last quarter. TenCore Partners LP acquired a new stake in shares of Perimeter Solutions in the first quarter valued at approximately $3,174,000. Finally, Repertoire Partners LP acquired a new stake in shares of Perimeter Solutions in the first quarter valued at approximately $519,000. Institutional investors and hedge funds own 89.93% of the company's stock.

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.