Perimeter Solutions (NYSE:PRM) Reaches New 1-Year High - What's Next?

Key Points

• Perimeter Solutions shares reached a new 52-week high of $18.77 amid a trading volume of 923,678 shares, reflecting strong market interest.
• Analyst ratings are mixed for the stock, with UBS raising its price target to $20.00 while Wall Street Zen downgraded it to a "hold" rating.
• In its latest earnings report, Perimeter Solutions posted an EPS of $0.39, outperforming the consensus estimate, and achieved revenue of $162.64 million compared to expectations of $108.91 million.

Perimeter Solutions, SA (NYSE:PRM - Get Free Report)'s stock price reached a new 52-week high on Wednesday . The stock traded as high as $18.77 and last traded at $18.57, with a volume of 923678 shares. The stock had previously closed at $18.65.

Wall Street Analysts Forecast Growth

PRM has been the topic of several research reports. Morgan Stanley boosted their price target on Perimeter Solutions from $17.00 to $25.00 and gave the stock an "overweight" rating in a report on Monday. Wall Street Zen downgraded shares of Perimeter Solutions from a "buy" rating to a "hold" rating in a research note on Sunday, July 20th. Finally, 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 research note on Wednesday, July 9th. Two equities research analysts have rated the stock with a Buy rating, According to MarketBeat, the stock has a consensus rating of "Buy" and an average target price of $22.50.

Perimeter Solutions Price Performance

The company has a fifty day moving average of $16.11 and a 200 day moving average of $12.62. The firm has a market capitalization of $3.02 billion, a P/E ratio of 47.82 and a beta of 1.96. The company has a debt-to-equity ratio of 0.57, a current ratio of 4.04 and a quick ratio of 2.60.

Perimeter Solutions (NYSE:PRM - Get Free Report) last announced its earnings results on Thursday, August 7th. The company reported $0.39 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 for the quarter, compared to analysts' expectations of $108.91 million. Sell-side analysts predict that Perimeter Solutions, SA will post 0.71 earnings per share for the current year.

Insider Buying and Selling

In related news, major shareholder Windacre Partnership Master Fu bought 254,600 shares of Perimeter Solutions stock in a transaction that occurred on Friday, June 27th. The shares were 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. The trade was a 1.18% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. 10.00% of the stock is owned by insiders.

Institutional Trading of Perimeter Solutions

Several institutional investors have recently added to or reduced their stakes in PRM. Renaissance Technologies LLC boosted its holdings in shares of Perimeter Solutions by 1,319.0% during the 4th quarter. Renaissance Technologies LLC now owns 141,900 shares of the company's stock worth $1,813,000 after buying an additional 131,900 shares in the last quarter. Barclays PLC boosted its holdings in shares of Perimeter Solutions by 11.5% during the 4th quarter. Barclays PLC now owns 230,741 shares of the company's stock worth $2,949,000 after buying an additional 23,774 shares in the last quarter. First Trust Advisors LP bought a new position in shares of Perimeter Solutions during the 4th quarter worth approximately $6,001,000. Dimensional Fund Advisors LP boosted its holdings in shares of Perimeter Solutions by 22.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,113,380 shares of the company's stock worth $39,789,000 after buying an additional 579,987 shares in the last quarter. Finally, MetLife Investment Management LLC grew its holdings in Perimeter Solutions by 6.8% in the fourth quarter. MetLife Investment Management LLC now owns 82,377 shares of the company's stock worth $1,053,000 after purchasing an additional 5,248 shares during the period. 89.93% of the stock is currently owned by 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.