Perimeter Solutions, SA (NYSE:PRM) Receives Average Rating of “Hold” from Analysts

Perimeter Solutions, SA (NYSE:PRM) has received an average rating of “Hold” from the six ratings firms that are presently covering the company, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell recommendation and four have assigned a buy recommendation to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $41.75.

Several brokerages have recently commented on PRM. Weiss Ratings cut shares of Perimeter Solutions from a “hold (c-)” rating to a “sell (d+)” rating in a report on Wednesday, August 12th. JPMorgan Chase & Co. reduced their price target on Perimeter Solutions from $50.00 to $45.00 and set an “overweight” rating on the stock in a research report on Monday, August 3rd. Zacks Research lowered Perimeter Solutions from a “hold” rating to a “strong sell” rating in a research note on Monday, August 10th. Wall Street Zen cut Perimeter Solutions from a “buy” rating to a “hold” rating in a report on Sunday, July 12th. Finally, CJS Securities began coverage on Perimeter Solutions in a research report on Tuesday, June 9th. They set a “market outperform” rating and a $48.00 target price for the company.

Insider Buying and Selling

In related news, major shareholder Windacre Partnership Llc sold 3,393,479 shares of the business’s stock in a transaction dated Friday, June 26th. The stock was sold at an average price of $34.66, for a total value of $117,617,982.14. Following the completion of the transaction, the insider owned 18,461,121 shares of the company’s stock, valued at $639,862,453.86. The trade was a 15.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders sold a total of 5,705,979 shares of company stock valued at $195,617,982 over the last three months. 13.10% of the stock is owned by insiders.

Hedge Funds Weigh In On Perimeter Solutions

Several hedge funds have recently bought and sold shares of the company. Sequoia Financial Advisors LLC acquired a new position in shares of Perimeter Solutions in the 2nd quarter valued at approximately $293,000. Engineers Gate Manager LP boosted its position in shares of Perimeter Solutions by 24.5% during the 2nd quarter. Engineers Gate Manager LP now owns 18,300 shares of the company’s stock worth $652,000 after acquiring an additional 3,600 shares in the last quarter. Squarepoint Ops LLC boosted its position in shares of Perimeter Solutions by 101.2% during the 2nd quarter. Squarepoint Ops LLC now owns 166,187 shares of the company’s stock worth $5,925,000 after acquiring an additional 83,581 shares in the last quarter. Arizona State Retirement System increased its stake in Perimeter Solutions by 4.9% in the second quarter. Arizona State Retirement System now owns 40,436 shares of the company’s stock valued at $1,442,000 after acquiring an additional 1,886 shares during the last quarter. Finally, Nykredit A S bought a new position in Perimeter Solutions in the second quarter valued at approximately $99,000. 89.93% of the stock is owned by institutional investors.

Perimeter Solutions Stock Up 1.1%

PRM stock opened at $31.91 on Thursday. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.57 and a quick ratio of 0.93. The stock has a market capitalization of $5.22 billion, a price-to-earnings ratio of -14.31 and a beta of 1.90. The business’s fifty day moving average price is $32.90 and its two-hundred day moving average price is $30.57. Perimeter Solutions has a fifty-two week low of $19.70 and a fifty-two week high of $38.17.

Perimeter Solutions (NYSE:PRM) last announced its earnings results on Friday, July 31st. The company reported $0.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.08). Perimeter Solutions had a negative net margin of 44.86% and a positive return on equity of 19.15%. The business had revenue of $213.81 million during the quarter, compared to the consensus estimate of $216.89 million. On average, equities analysts anticipate that Perimeter Solutions will post 1.54 earnings per share for the current year.

About Perimeter Solutions

Perimeter Solutions, Inc is a specialty chemicals and fire-safety company that develops, manufactures and supplies products used in wildfire control, industrial fire protection and chemical applications. The company serves customers across North America and international markets through a portfolio of fire-safety and specialty chemical products.

Its fire-safety business provides firefighting foams, fire retardants and related solutions for wildland firefighting, aviation, military, industrial and municipal applications.