Perimeter Solutions (NYSE:PRM) Hits New 1-Year High – Time to Buy?

Perimeter Solutions, SA (NYSE:PRM)’s stock price hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $34.91 and last traded at $35.1260, with a volume of 145561 shares traded. The stock had previously closed at $33.82.

Analysts Set New Price Targets

Several research analysts recently issued reports on PRM shares. Wall Street Zen raised Perimeter Solutions from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. Zacks Research raised Perimeter Solutions from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, April 14th. Weiss Ratings raised Perimeter Solutions from a “sell (d)” rating to a “sell (d+)” rating in a research report on Thursday, May 28th. UBS Group lifted their price objective on Perimeter Solutions from $30.00 to $34.00 and gave the stock a “buy” rating in a research report on Thursday, May 7th. Finally, Morgan Stanley lifted their price objective on Perimeter Solutions from $35.00 to $40.00 and gave the stock an “overweight” rating in a research report on Monday, May 11th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $40.67.

Perimeter Solutions Stock Performance

The company has a debt-to-equity ratio of 1.01, a quick ratio of 1.61 and a current ratio of 3.09. The company has a 50 day moving average price of $29.84 and a 200 day moving average price of $27.58. The company has a market capitalization of $5.63 billion, a price-to-earnings ratio of -25.76 and a beta of 1.92.

Perimeter Solutions (NYSE:PRM) last issued its earnings results on Thursday, May 7th. The company reported $0.06 EPS for the quarter, beating the consensus estimate of $0.02 by $0.04. The company 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 18.29% and a negative net margin of 26.93%. Equities research analysts predict that Perimeter Solutions, SA will post 1.91 earnings per share for the current fiscal year.

Insider Activity

In other news, CFO Kyle Sable sold 49,540 shares of the firm’s stock in a transaction dated Wednesday, May 13th. The stock was sold at an average price of $33.09, for a total value of $1,639,278.60. Following the completion of the sale, the chief financial officer directly owned 49,540 shares in the company, valued at $1,639,278.60. This trade represents a 50.00% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Jeffrey Emery sold 53,537 shares of the firm’s stock in a transaction dated Wednesday, May 13th. The shares were sold at an average price of $33.45, for a total value of $1,790,812.65. Following the completion of the sale, the insider owned 53,537 shares of the company’s stock, valued at approximately $1,790,812.65. This represents a 50.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 679,535 shares of company stock worth $21,846,411 in the last three months. Company insiders own 13.10% of the company’s stock.

Institutional Trading of Perimeter Solutions

Several large investors have recently made changes to their positions in PRM. Jones Financial Companies Lllp acquired a new stake in shares of Perimeter Solutions in the 3rd quarter valued at about $27,000. Arax Advisory Partners grew its stake in shares of Perimeter Solutions by 122.8% in the 4th quarter. Arax Advisory Partners now owns 1,047 shares of the company’s stock valued at $29,000 after buying an additional 577 shares during the period. Northwestern Mutual Wealth Management Co. grew its stake in shares of Perimeter Solutions by 51.6% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,143 shares of the company’s stock valued at $31,000 after buying an additional 389 shares during the period. EverSource Wealth Advisors LLC acquired a new stake in shares of Perimeter Solutions in the 2nd quarter valued at about $42,000. Finally, Comerica Bank boosted its stake in Perimeter Solutions by 45.0% during the 1st quarter. Comerica Bank now owns 4,267 shares of the company’s stock valued at $43,000 after purchasing an additional 1,324 shares during the last quarter. 89.93% of the stock is currently owned by institutional investors and hedge funds.

About Perimeter Solutions

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.