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

Key Points

• Perimeter Solutions shares reached a new 52-week high at $24.85, but last traded at $23.55 with a volume of 747,034 shares exchanged.
• Analyst ratings are mixed, with UBS and Morgan Stanley providing optimistic price targets of $25.00 and $27.00 respectively, while Wall Street Zen downgraded the stock to a "hold."
• The company reported a quarterly EPS of $0.39, significantly beating estimates, and had revenue of $162.64 million for the quarter, indicating strong financial performance.

Shares of Perimeter Solutions, SA (NYSE:PRM - Get Free Report) hit a new 52-week high on Monday . The stock traded as high as $24.85 and last traded at $23.55, with a volume of 747034 shares traded. The stock had previously closed at $22.92.

Analyst Ratings Changes

Several brokerages recently issued reports on PRM. UBS Group lifted their price objective on shares of Perimeter Solutions from $21.00 to $25.00 and gave the company a "buy" rating in a report on Tuesday, September 30th. Morgan Stanley reaffirmed an "overweight" rating and set a $27.00 target price on shares of Perimeter Solutions in a report on Friday. Wall Street Zen lowered shares of Perimeter Solutions from a "buy" rating to a "hold" rating in a report on Sunday, July 20th. Finally, Weiss Ratings restated a "hold (c-)" rating on shares of Perimeter Solutions in a report on Wednesday, October 8th. Two investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, Perimeter Solutions currently has an average rating of "Moderate Buy" and an average price target of $26.00.

Perimeter Solutions Trading Down 0.6%

The business has a fifty day moving average price of $21.36 and a 200 day moving average price of $15.93. The company has a debt-to-equity ratio of 0.57, a quick ratio of 2.60 and a current ratio of 4.04. The firm has a market capitalization of $3.34 billion, a price-to-earnings ratio of 53.03 and a beta of 1.98.

Perimeter Solutions (NYSE:PRM - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The company reported $0.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.28 by $0.11. The firm had revenue of $162.64 million for the quarter, compared to analysts' expectations of $108.91 million. Perimeter Solutions had a negative return on equity of 1.11% and a net margin of 13.05%. As a group, equities analysts forecast that Perimeter Solutions, SA will post 0.71 earnings per share for the current year.

Insider Activity

In related news, Director Vivek Raj sold 25,000 shares of the stock in a transaction that occurred on Thursday, September 11th. The stock was sold at an average price of $22.45, for a total transaction of $561,250.00. Following the sale, the director directly owned 121,701 shares in the company, valued at $2,732,187.45. This represents a 17.04% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Kyle Sable sold 40,000 shares of Perimeter Solutions stock in a transaction on Friday, September 5th. The shares were sold at an average price of $22.05, for a total transaction of $882,000.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 365,000 shares of company stock worth $8,127,250. Corporate insiders own 10.00% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Brown Lisle Cummings Inc. bought a new stake in shares of Perimeter Solutions in the 3rd quarter worth approximately $45,000. EverSource Wealth Advisors LLC purchased a new stake in shares of Perimeter Solutions during the 2nd quarter valued at about $42,000. Cullen Frost Bankers Inc. raised its position in shares of Perimeter Solutions by 161.2% during the 2nd quarter. Cullen Frost Bankers Inc. now owns 3,124 shares of the company's stock valued at $43,000 after purchasing an additional 1,928 shares during the period. GAMMA Investing LLC grew its holdings in Perimeter Solutions by 16.4% during the 3rd quarter. GAMMA Investing LLC now owns 3,577 shares of the company's stock valued at $80,000 after buying an additional 504 shares in the last quarter. Finally, Comerica Bank increased its holdings in shares of Perimeter Solutions by 45.0% in the 1st quarter. Comerica Bank now owns 4,267 shares of the company's stock worth $43,000 after buying an additional 1,324 shares during the last quarter. 89.93% of the stock is owned by institutional investors.

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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