Perimeter Solutions (NYSE:PRM) Reaches New 12-Month High - Here's What Happened

Key Points

• Perimeter Solutions reached a new 52-week high of $32.01 (last $31.61) and was up about 8.3% on the day, with a market cap near $5.19 billion.
• Analyst views are mixed but skew positive — the consensus is a Moderate Buy with a $34.50 average price target; notable moves include Zacks upgrading to Strong Buy and UBS lifting its target to $34 while Weiss downgraded to Sell.
• The company beat the latest quarter estimates (EPS $0.06 vs. $0.02 expected; revenue $125.07M vs. $121.8M) but still shows a negative net margin of -26.93%.

Perimeter Solutions, SA (NYSE:PRM - Get Free Report)'s share price reached a new 52-week high during mid-day trading on Friday . The stock traded as high as $32.01 and last traded at $31.61, with a volume of 455961 shares traded. The stock had previously closed at $29.36.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on PRM shares. Zacks Research upgraded Perimeter Solutions from a "hold" rating to a "strong-buy" rating in a report on Tuesday, April 14th. UBS Group increased their price target on Perimeter Solutions from $30.00 to $34.00 and gave the stock a "buy" rating in a report on Thursday. Finally, Weiss Ratings lowered shares of Perimeter Solutions from a "hold (c-)" rating to a "sell (d-)" rating in a report on Monday, March 2nd. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $34.50.

Perimeter Solutions Stock Up 8.3%

The stock has a market cap of $5.19 billion, a PE ratio of -23.73 and a beta of 1.93. The business has a 50 day moving average of $25.37 and a 200-day moving average of $26.20. The company has a current ratio of 3.22, a quick ratio of 2.42 and a debt-to-equity ratio of 0.60.

Perimeter Solutions (NYSE:PRM - Get Free Report) last posted its quarterly earnings data on Wednesday, May 6th. The company reported $0.06 earnings per share for the quarter, beating the consensus estimate of $0.02 by $0.04. The business had revenue of $125.07 million during the quarter, compared to the consensus estimate of $121.80 million. Perimeter Solutions had a positive return on equity of 18.55% and a negative net margin of 26.93%. Equities research analysts predict that Perimeter Solutions, SA will post 1.47 EPS for the current fiscal year.

Insider Buying and Selling at Perimeter Solutions

In other Perimeter Solutions news, Director William N. Thorndike, Jr. sold 100,000 shares of the company's stock in a transaction on Tuesday, March 10th. The shares were sold at an average price of $23.63, for a total transaction of $2,363,000.00. Following the completion of the transaction, the director owned 8,635,656 shares in the company, valued at approximately $204,060,551.28. This represents a 1.14% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold 450,000 shares of company stock worth $10,722,750 over the last three months. 13.10% of the stock is owned by company insiders.

Institutional Trading of Perimeter Solutions

A number of institutional investors have recently modified their holdings of the business. PNC Financial Services Group Inc. grew its holdings in Perimeter Solutions by 195.8% during the first quarter. PNC Financial Services Group Inc. now owns 68,052 shares of the company's stock worth $1,662,000 after acquiring an additional 45,043 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Perimeter Solutions by 0.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 4,763,465 shares of the company's stock worth $116,286,000 after purchasing an additional 27,643 shares in the last quarter. Swiss National Bank grew its stake in shares of Perimeter Solutions by 1.4% during the 1st quarter. Swiss National Bank now owns 278,100 shares of the company's stock worth $6,791,000 after purchasing an additional 3,900 shares during the period. Assetmark Inc. grew its stake in shares of Perimeter Solutions by 1,512.7% during the 1st quarter. Assetmark Inc. now owns 4,064 shares of the company's stock worth $99,000 after purchasing an additional 3,812 shares during the period. Finally, Bessemer Group Inc. increased its holdings in shares of Perimeter Solutions by 61.2% in the 1st quarter. Bessemer Group Inc. now owns 1,064,925 shares of the company's stock valued at $26,006,000 after purchasing an additional 404,417 shares in the last quarter. 89.93% of the stock is currently owned by hedge funds and other institutional investors.

Perimeter Solutions Company Profile

Perimeter Solutions Ltd. NYSE: PRM is a global specialty chemicals company focused on delivering performance-driven solutions for the oil and gas, coatings, plastics, water treatment and packaging markets. Established as an independent publicly traded company in December 2019 following its spin-off from NewMarket Corporation, Perimeter Solutions has positioned itself as a leading provider of highly engineered chemical products designed to optimize upstream oil recovery, protect infrastructure and enhance the performance of industrial processes.

The company's core product portfolio spans several key segments.

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