Perimeter Solutions (NYSE:PRM) Reaches New 52-Week High – Time to Buy?

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

Analyst Ratings Changes

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

Perimeter Solutions Stock Performance

The firm has a market capitalization of $4.15 billion, a PE ratio of 66.78 and a beta of 1.96. The company has a debt-to-equity ratio of 0.61, a current ratio of 2.22 and a quick ratio of 1.72. The company’s fifty day simple moving average is $24.06 and its 200 day simple moving average is $19.34.

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

Insider Transactions at Perimeter Solutions

In other Perimeter Solutions news, Director Vivek Raj sold 25,000 shares of the stock in a transaction on Thursday, September 11th. The stock was sold at an average price of $22.45, for a total transaction of $561,250.00. Following the sale, the director owned 121,701 shares in the company, valued at $2,732,187.45. This represents a 17.04% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 10.00% of the stock is owned by insiders.

Hedge Funds Weigh In On Perimeter Solutions

Several hedge funds have recently made changes to their positions in the stock. Jones Financial Companies Lllp purchased a new stake in Perimeter Solutions during the 3rd quarter worth about $27,000. EverSource Wealth Advisors LLC purchased a new position in Perimeter Solutions during the 2nd quarter valued at about $42,000. Cullen Frost Bankers Inc. increased its position in shares of Perimeter Solutions by 161.2% during the second quarter. Cullen Frost Bankers Inc. now owns 3,124 shares of the company’s stock valued at $43,000 after buying an additional 1,928 shares during the period. Comerica Bank lifted its holdings in shares of Perimeter Solutions by 45.0% in the first quarter. Comerica Bank now owns 4,267 shares of the company’s stock worth $43,000 after buying an additional 1,324 shares in 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. 89.93% of the stock is currently owned by hedge funds and other institutional investors.

Perimeter Solutions Company Profile

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.