Perimeter Solutions, SA (NYSE:PRM) Given Average Recommendation of "Moderate Buy" by Brokerages

Perimeter Solutions, SA (NYSE:PRM - Get Free Report) has been assigned an average rating of "Moderate Buy" from the six research firms that are covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and four have issued a buy recommendation on the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $43.00.

A number of research firms recently weighed in on PRM. UBS Group upped their price target on Perimeter Solutions from $30.00 to $34.00 and gave the stock a "buy" rating in a report on Thursday, May 7th. JPMorgan Chase & Co. began coverage on Perimeter Solutions in a report on Thursday, July 9th. They set an "overweight" rating and a $50.00 price objective for the company. Wall Street Zen downgraded Perimeter Solutions from a "buy" rating to a "hold" rating in a research report on Sunday, July 12th. Zacks Research lowered Perimeter Solutions from a "strong-buy" rating to a "hold" rating in a report on Friday, July 10th. Finally, CJS Securities assumed coverage on Perimeter Solutions in a research report on Tuesday, June 9th. They issued a "market outperform" rating and a $48.00 price target for the company.

Perimeter Solutions Stock Up 5.3%

PRM stock opened at $35.08 on Wednesday. The company has a current ratio of 3.09, a quick ratio of 1.61 and a debt-to-equity ratio of 1.01. The company's 50-day moving average price is $33.81 and its 200 day moving average price is $29.24. Perimeter Solutions has a 52 week low of $15.43 and a 52 week high of $38.17. The company has a market cap of $5.72 billion, a P/E ratio of -26.18 and a beta of 1.90.

Perimeter Solutions (NYSE:PRM - Get Free Report) last issued its earnings results on Thursday, May 7th. The company reported $0.06 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.02 by $0.04. Perimeter Solutions had a negative net margin of 26.93% and a positive return on equity of 18.29%. The company had revenue of $125.07 million during the quarter, compared to analysts' expectations of $121.80 million. On average, research analysts expect that Perimeter Solutions will post 1.66 earnings per share for the current fiscal year.

Insider Buying and Selling at Perimeter Solutions

In other Perimeter Solutions news, CEO Haitham Khouri sold 117,511 shares of Perimeter Solutions stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $31.19, for a total transaction of $3,665,168.09. Following the completion of the transaction, the chief executive officer owned 1,874,615 shares in the company, valued at approximately $58,469,241.85. The trade was a 5.90% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder Windacre Partnership Llc sold 1,875,000 shares of the company's stock in a transaction dated Tuesday, June 30th. The shares were sold at an average price of $33.90, for a total transaction of $63,562,500.00. Following the completion of the sale, the insider directly owned 16,148,621 shares in the company, valued at $547,438,251.90. This trade represents a 10.40% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 6,385,514 shares of company stock valued at $217,464,393 over the last 90 days. 13.10% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of PRM. Handelsbanken Fonder AB raised its position in shares of Perimeter Solutions by 4.9% during the 2nd quarter. Handelsbanken Fonder AB now owns 53,100 shares of the company's stock worth $1,893,000 after purchasing an additional 2,500 shares during the last quarter. Financial Management Professionals Inc. acquired a new stake in Perimeter Solutions during the 2nd quarter valued at $26,000. GAMMA Investing LLC increased its position in Perimeter Solutions by 9.0% during the second quarter. GAMMA Investing LLC now owns 5,127 shares of the company's stock worth $183,000 after buying an additional 425 shares in the last quarter. Bank of America Corp DE increased its position in Perimeter Solutions by 4.8% during the first quarter. Bank of America Corp DE now owns 1,738,095 shares of the company's stock worth $42,444,000 after buying an additional 79,083 shares in the last quarter. Finally, Janus Henderson Group PLC raised its holdings in shares of Perimeter Solutions by 8.6% in the first quarter. Janus Henderson Group PLC now owns 4,007,536 shares of the company's stock worth $97,863,000 after acquiring an additional 315,763 shares during the last quarter. 89.93% of the stock is currently owned by institutional investors and hedge funds.

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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