Perimeter Solutions (NYSE:PRM) Sets New 12-Month High - Time to Buy?

Key Points

• Perimeter Solutions shares hit a new 52-week high of $18.52, closing at $18.50 with over 1.3 million shares traded.
• Analysts have mixed ratings for the stock, with UBS Group raising its price target to $20.00 while Wall Street Zen downgraded it to a "hold."
• The company reported a strong quarterly performance with EPS of $0.39, surpassing estimates, and generated revenue of $162.64 million against expectations of $108.91 million.

Perimeter Solutions, SA (NYSE:PRM - Get Free Report)'s stock price hit a new 52-week high on Thursday . The company traded as high as $18.52 and last traded at $18.50, with a volume of 1332530 shares traded. The stock had previously closed at $18.10.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. UBS Group raised 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. Wall Street Zen downgraded shares of Perimeter Solutions from a "buy" rating to a "hold" rating in a research report on Sunday, July 20th. Finally, Morgan Stanley dropped their price target on Perimeter Solutions from $18.00 to $17.00 and set an "overweight" rating on the stock in a research note on Friday, May 16th.

Perimeter Solutions Stock Up 0.3%

The company's 50-day simple moving average is $15.56 and its two-hundred day simple moving average is $12.39. The company has a debt-to-equity ratio of 0.57, a current ratio of 4.04 and a quick ratio of 2.60. The firm has a market capitalization of $2.73 billion, a P/E ratio of 43.28 and a beta of 1.96.

Perimeter Solutions (NYSE:PRM - Get Free Report) last released its quarterly earnings results 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. 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 during the quarter, compared to analyst estimates of $108.91 million. As a group, research analysts expect that Perimeter Solutions, SA will post 0.71 earnings per share for the current year.

Insider Activity at Perimeter Solutions

In related news, Director Vivek Raj sold 32,000 shares of Perimeter Solutions stock in a transaction on Wednesday, May 21st. The shares were sold at an average price of $11.70, for a total transaction of $374,400.00. Following the transaction, the director owned 68,132 shares in the company, valued at approximately $797,144.40. The trade was a 31.96% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Windacre Partnership Master Fu bought 254,600 shares of the company's stock in a transaction that occurred on Friday, June 27th. The stock was purchased at an average cost of $13.98 per share, with a total value of $3,559,308.00. Following the acquisition, the insider directly owned 21,854,600 shares in the company, valued at $305,527,308. This trade represents a 1.18% increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 10.00% of the company's stock.

Hedge Funds Weigh In On Perimeter Solutions

Large investors have recently made changes to their positions in the business. Summit Investment Advisors Inc. lifted its holdings in Perimeter Solutions by 6.8% in the 4th quarter. Summit Investment Advisors Inc. now owns 14,000 shares of the company's stock worth $179,000 after purchasing an additional 889 shares in the last quarter. Templeton & Phillips Capital Management LLC raised its position in shares of Perimeter Solutions by 0.5% during the second quarter. Templeton & Phillips Capital Management LLC now owns 189,919 shares of the company's stock valued at $2,644,000 after buying an additional 920 shares during the last quarter. Comerica Bank lifted its holdings in shares of Perimeter Solutions by 45.0% in the first quarter. Comerica Bank now owns 4,267 shares of the company's stock worth $43,000 after buying an additional 1,324 shares in the last quarter. Procyon Advisors LLC boosted its position in shares of Perimeter Solutions by 14.6% during the first quarter. Procyon Advisors LLC now owns 14,912 shares of the company's stock worth $150,000 after acquiring an additional 1,897 shares during the last quarter. Finally, Harbor Investment Advisory LLC grew its stake in Perimeter Solutions by 25.6% during the first quarter. Harbor Investment Advisory LLC now owns 9,315 shares of the company's stock valued at $94,000 after acquiring an additional 1,899 shares in the last quarter. 89.93% of the stock is currently owned by hedge funds and other institutional investors.

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.