Perimeter Solutions (NYSE:PRM) Reaches New 52-Week High - Still a Buy?

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.

Shares of Perimeter Solutions, SA (NYSE:PRM - Get Free Report) hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $18.77 and last traded at $18.57, with a volume of 923678 shares trading hands. The stock had previously closed at $18.65.

Analyst Ratings Changes

Several equities research analysts recently issued reports on PRM shares. UBS Group boosted their price target on Perimeter Solutions from $15.00 to $20.00 and gave the company a "buy" rating in a research note on Wednesday, July 9th. Wall Street Zen cut Perimeter Solutions from a "buy" rating to a "hold" rating in a research note on Sunday, July 20th. Finally, Morgan Stanley cut their price target on Perimeter Solutions from $18.00 to $17.00 and set an "overweight" rating for the company in a research note on Friday, May 16th. Two analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock has an average rating of "Buy" and an average price target of $18.50.

Perimeter Solutions Trading Down 0.4%

The firm has a market capitalization of $2.72 billion, a price-to-earnings ratio of 43.18 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. The firm's 50-day simple moving average is $15.78 and its 200 day simple moving average is $12.47.

Perimeter Solutions (NYSE:PRM - Get Free Report) last announced its quarterly earnings data 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 net margin of 13.05% and a negative return on equity of 1.11%. The business had revenue of $162.64 million during the quarter, compared to the consensus estimate of $108.91 million. Equities analysts expect that Perimeter Solutions, SA will post 0.71 earnings per share for the current year.

Insider Activity

In related news, major shareholder Windacre Partnership Master Fu purchased 254,600 shares of the stock in a transaction dated Friday, June 27th. The stock was bought 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 owned 21,854,600 shares of the company's stock, valued at approximately $305,527,308. This represents a 1.18% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 10.00% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Comerica Bank acquired a new position in shares of Perimeter Solutions during the fourth quarter worth $38,000. EverSource Wealth Advisors LLC acquired a new stake in Perimeter Solutions in the second quarter valued at $42,000. Cullen Frost Bankers Inc. increased its holdings in Perimeter Solutions by 161.2% in the second 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. AlphaQuest LLC increased its holdings in Perimeter Solutions by 65.1% in the second quarter. AlphaQuest LLC now owns 8,235 shares of the company's stock valued at $115,000 after purchasing an additional 3,246 shares during the period. Finally, Harbor Investment Advisory LLC increased its holdings in Perimeter Solutions by 25.6% in the first quarter. Harbor Investment Advisory LLC now owns 9,315 shares of the company's stock valued at $94,000 after purchasing an additional 1,899 shares during the period. 89.93% of the stock is currently owned by institutional investors and hedge funds.

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.

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