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

Key Points

• Perimeter Solutions' stock price reached a new 52-week high of $21.19 after Morgan Stanley upgraded its price target from $17.00 to $25.00, maintaining an overweight rating.
• Recent insider transactions include the acquisition of 254,600 shares by major shareholder Windacre Partnership Master Fu at an average cost of $13.98 per share, representing a 1.18% increase in their position.
• The company's latest quarterly earnings reported a profit of $0.39 EPS, significantly beating analysts' expectations of $0.28, alongside revenue of $162.64 million compared to the forecast of $108.91 million.

Perimeter Solutions, SA (NYSE:PRM - Get Free Report)'s stock price hit a new 52-week high during mid-day trading on Tuesday after Morgan Stanley raised their price target on the stock from $17.00 to $25.00. Morgan Stanley currently has an overweight rating on the stock. Perimeter Solutions traded as high as $21.21 and last traded at $21.19, with a volume of 2346575 shares. The stock had previously closed at $19.48.

Several other research analysts also recently issued reports on the stock. UBS Group upped their price target on shares of Perimeter Solutions from $15.00 to $20.00 and gave the stock a "buy" rating in a report on Wednesday, July 9th. Wall Street Zen downgraded shares of Perimeter Solutions from a "buy" rating to a "hold" rating in a report on Sunday, July 20th. Two research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company currently has an average rating of "Buy" and a consensus price target of $22.50.

Insiders Place Their Bets

In related news, major shareholder Windacre Partnership Master Fu acquired 254,600 shares of the firm's stock in a transaction that occurred on 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 acquisition, the insider directly owned 21,854,600 shares of the company's stock, valued at approximately $305,527,308. This trade represents a 1.18% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. 10.00% of the stock is owned by insiders.

Institutional Trading of Perimeter Solutions

Large investors have recently bought and sold shares of the business. New York State Teachers Retirement System acquired a new stake in Perimeter Solutions during the 1st quarter worth about $123,000. Teacher Retirement System of Texas grew its holdings in Perimeter Solutions by 21.0% during the 1st quarter. Teacher Retirement System of Texas now owns 249,091 shares of the company's stock worth $2,508,000 after acquiring an additional 43,247 shares during the period. Wealth Enhancement Advisory Services LLC acquired a new stake in Perimeter Solutions during the 1st quarter worth about $3,479,000. SG Americas Securities LLC grew its holdings in Perimeter Solutions by 59.7% during the 1st quarter. SG Americas Securities LLC now owns 93,811 shares of the company's stock worth $945,000 after acquiring an additional 35,078 shares during the period. Finally, Oppenheimer Asset Management Inc. grew its holdings in Perimeter Solutions by 15.6% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 54,573 shares of the company's stock worth $550,000 after acquiring an additional 7,347 shares during the period. 89.93% of the stock is currently owned by institutional investors and hedge funds.

Perimeter Solutions Stock Performance

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 stock has a fifty day simple moving average of $16.78 and a two-hundred day simple moving average of $12.88. The stock has a market capitalization of $3.26 billion, a price-to-earnings ratio of 51.85 and a beta of 1.96.

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 firm had revenue of $162.64 million during the quarter, compared to the consensus estimate of $108.91 million. Analysts forecast 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.