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

Perimeter Solutions, SA (NYSE:PRM) hit a new 52-week high on Friday . The stock traded as high as $28.38 and last traded at $28.0480, with a volume of 906242 shares changing hands. The stock had previously closed at $27.58.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. UBS Group increased their price objective on shares of Perimeter Solutions from $21.00 to $25.00 and gave the stock a “buy” rating in a research report on Tuesday, September 30th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Perimeter Solutions in a report on Wednesday, October 8th. Zacks Research raised Perimeter Solutions from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 24th. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $27.00 target price on shares of Perimeter Solutions in a research report on Friday, October 17th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, Perimeter Solutions presently has an average rating of “Buy” and a consensus price target of $26.00.

Perimeter Solutions Stock Performance

The firm has a market cap of $4.15 billion, a P/E ratio of 66.78 and a beta of 1.96. The company has a current ratio of 2.22, a quick ratio of 1.72 and a debt-to-equity ratio of 0.61. The company’s 50-day moving average is $24.06 and its two-hundred day moving average is $19.34.

Perimeter Solutions (NYSE:PRM) last issued its quarterly earnings data on Thursday, October 30th. The company reported $0.82 EPS for the quarter, topping the consensus estimate of $0.68 by $0.14. Perimeter Solutions had a return on equity of 17.33% and a net margin of 12.26%.The firm had revenue of $315.44 million during the quarter, compared to the consensus estimate of $238.27 million. As a group, equities analysts predict that Perimeter Solutions, SA will post 0.71 EPS for the current fiscal year.

Insiders Place Their Bets

In other Perimeter Solutions news, Director Vivek Raj sold 25,000 shares of Perimeter Solutions stock in a transaction on Thursday, September 11th. The shares were sold at an average price of $22.45, for a total transaction of $561,250.00. Following the transaction, the director directly owned 121,701 shares of the company’s stock, valued at $2,732,187.45. The trade was a 17.04% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 10.00% of the company’s stock.

Institutional Trading of Perimeter Solutions

Several institutional investors and hedge funds have recently made changes to their positions in the company. Jones Financial Companies Lllp purchased a new position in Perimeter Solutions during the third quarter worth about $27,000. EverSource Wealth Advisors LLC bought a new position in shares of Perimeter Solutions during the 2nd quarter worth approximately $42,000. Cullen Frost Bankers Inc. boosted its stake in shares of Perimeter Solutions by 161.2% in the 2nd quarter. Cullen Frost Bankers Inc. now owns 3,124 shares of the company’s stock worth $43,000 after buying an additional 1,928 shares during the last quarter. Comerica Bank boosted its stake in shares of Perimeter Solutions by 45.0% in the 1st quarter. Comerica Bank now owns 4,267 shares of the company’s stock worth $43,000 after buying an additional 1,324 shares during the last quarter. Finally, Brown Lisle Cummings Inc. bought a new position in shares of Perimeter Solutions in the third quarter valued at approximately $45,000. Hedge funds and other institutional investors own 89.93% of the company’s stock.

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.