Perimeter Solutions (NYSE:PRM) Hits New 52-Week High - What's Next?

Key Points

• Perimeter Solutions shares recently reached a new 52-week high of $22.52, trading at $22.49 with significant volume, indicating strong investor interest.
• Analysts have mixed views on Perimeter Solutions, with UBS raising its price target to $20, Morgan Stanley to $25, while Wall Street Zen downgraded it from "buy" to "hold".
• The company reported earnings of $0.39 per share, exceeding expectations, with quarterly revenue of $162.64 million, significantly above analyst estimates of $108.91 million.

Shares of Perimeter Solutions, SA (NYSE:PRM - Get Free Report) reached a new 52-week high on Tuesday . The company traded as high as $22.52 and last traded at $22.49, with a volume of 1415316 shares traded. The stock had previously closed at $22.39.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on PRM shares. UBS Group boosted their price target on Perimeter Solutions from $15.00 to $20.00 and gave the company a "buy" rating in a report on Wednesday, July 9th. Morgan Stanley raised their price target on Perimeter Solutions from $17.00 to $25.00 and gave the company an "overweight" rating in a research note on Monday, August 25th. Finally, Wall Street Zen lowered Perimeter Solutions from a "buy" rating to a "hold" rating in a research note on Sunday, July 20th. Two research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company presently has an average rating of "Buy" and an average price target of $22.50.

Perimeter Solutions Price Performance

The firm has a 50 day simple moving average of $17.13 and a 200-day simple moving average of $13.04. The company has a quick ratio of 2.60, a current ratio of 4.04 and a debt-to-equity ratio of 0.57. The company has a market cap of $3.29 billion, a PE ratio of 52.29 and a beta of 2.00.

Perimeter Solutions (NYSE:PRM - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The company reported $0.39 earnings per share for the quarter, topping analysts' consensus estimates of $0.28 by $0.11. Perimeter Solutions had a negative return on equity of 1.11% and a net margin of 13.05%.The business had revenue of $162.64 million for the quarter, compared to analyst estimates of $108.91 million. As a group, research analysts predict that Perimeter Solutions, SA will post 0.71 earnings per share for the current fiscal year.

Insider Buying and Selling at Perimeter Solutions

In other Perimeter Solutions news, major shareholder Windacre Partnership Master Fu purchased 254,600 shares of the company's stock in a transaction dated Friday, June 27th. The shares were acquired at an average price 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 approximately $305,527,308. The trade was a 1.18% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 10.00% of the company's stock.

Institutional Investors Weigh In On Perimeter Solutions

Institutional investors and hedge funds have recently modified their holdings of the company. Comerica Bank acquired a new stake in shares of Perimeter Solutions during the fourth quarter worth about $38,000. EverSource Wealth Advisors LLC acquired a new stake in shares of Perimeter Solutions during the second quarter worth about $42,000. Cullen Frost Bankers Inc. lifted its holdings in shares of Perimeter Solutions by 161.2% during the second quarter. Cullen Frost Bankers Inc. now owns 3,124 shares of the company's stock worth $43,000 after purchasing an additional 1,928 shares during the period. Harbor Investment Advisory LLC lifted its holdings in shares of Perimeter Solutions by 25.6% during the first quarter. Harbor Investment Advisory LLC now owns 9,315 shares of the company's stock worth $94,000 after purchasing an additional 1,899 shares during the period. Finally, Xponance Inc. acquired a new stake in shares of Perimeter Solutions during the first quarter worth about $101,000. Institutional investors and hedge funds own 89.93% of the company's stock.

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.

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