Perimeter Solutions, SA (NYSE:PRM) Given Consensus Rating of “Hold” by Brokerages

Shares of Perimeter Solutions, SA (NYSE:PRM) have received a consensus recommendation of “Hold” from the six research firms that are currently covering the firm, Marketbeat reports. Two research analysts have rated the stock with a sell recommendation and four have assigned a buy recommendation to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $41.75.

A number of analysts have recently weighed in on the stock. Weiss Ratings lowered shares of Perimeter Solutions from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Wednesday, August 12th. UBS Group raised their price objective on shares of Perimeter Solutions from $30.00 to $34.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. Morgan Stanley boosted their target price on Perimeter Solutions from $35.00 to $40.00 and gave the stock an “overweight” rating in a report on Monday, May 11th. CJS Securities began coverage on Perimeter Solutions in a research report on Tuesday, June 9th. They issued a “market outperform” rating and a $48.00 target price for the company. Finally, Zacks Research lowered Perimeter Solutions from a “hold” rating to a “strong sell” rating in a research note on Monday, August 10th.

Insider Activity at Perimeter Solutions

In other news, major shareholder Windacre Partnership Llc sold 1,875,000 shares of the business’s stock in a transaction on Tuesday, June 30th. The stock was sold at an average price of $33.90, for a total value of $63,562,500.00. Following the sale, the insider owned 16,148,621 shares of the company’s stock, valued at approximately $547,438,251.90. The trade was a 10.40% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Over the last 90 days, insiders sold 5,705,979 shares of company stock valued at $195,617,982. 13.10% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of PRM. California State Teachers Retirement System raised its position in Perimeter Solutions by 3,567.3% in the second quarter. California State Teachers Retirement System now owns 6,027,096 shares of the company’s stock worth $214,866,000 after acquiring an additional 5,862,750 shares in the last quarter. Balance Capital Partners L.P. bought a new position in shares of Perimeter Solutions during the 4th quarter valued at about $69,115,000. Principal Financial Group Inc. boosted its position in shares of Perimeter Solutions by 15.0% during the 1st quarter. Principal Financial Group Inc. now owns 12,513,159 shares of the company’s stock valued at $305,572,000 after purchasing an additional 1,634,158 shares in the last quarter. Janus Henderson Group PLC grew its stake in shares of Perimeter Solutions by 54.9% in the 4th quarter. Janus Henderson Group PLC now owns 3,691,773 shares of the company’s stock worth $101,634,000 after purchasing an additional 1,308,602 shares during the last quarter. Finally, Invesco Ltd. grew its stake in shares of Perimeter Solutions by 157.3% in the 4th quarter. Invesco Ltd. now owns 1,294,686 shares of the company’s stock worth $35,643,000 after purchasing an additional 791,558 shares during the last quarter. 89.93% of the stock is owned by institutional investors and hedge funds.

Perimeter Solutions Stock Performance

PRM stock opened at $30.70 on Friday. The company has a market capitalization of $5.03 billion, a P/E ratio of -13.77 and a beta of 1.91. The company has a 50-day simple moving average of $33.79 and a 200 day simple moving average of $30.08. Perimeter Solutions has a fifty-two week low of $19.70 and a fifty-two week high of $38.17. The company has a quick ratio of 0.93, a current ratio of 1.57 and a debt-to-equity ratio of 1.19.

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 company had revenue of $213.81 million during the quarter, compared to the consensus estimate of $216.89 million. Sell-side analysts predict that Perimeter Solutions will post 1.54 earnings per share for the current fiscal year.

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.