Perimeter Solutions, SA (NYSE:PRM) Given Average Rating of “Moderate Buy” by Brokerages

Perimeter Solutions, SA (NYSE:PRM) has earned an average rating of “Moderate Buy” from the five research firms that are currently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, three have given a buy rating and one has given a strong buy rating to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $40.6667.

PRM has been the subject of several recent analyst reports. Weiss Ratings raised Perimeter Solutions from a “sell (d)” rating to a “sell (d+)” rating in a research report on Thursday, May 28th. Wall Street Zen raised Perimeter Solutions from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. CJS Securities initiated 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. Morgan Stanley raised their target price on Perimeter Solutions from $35.00 to $40.00 and gave the stock an “overweight” rating in a research report on Monday, May 11th. Finally, Zacks Research raised Perimeter Solutions from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, April 14th.

Insider Transactions at Perimeter Solutions

In other news, insider Jeffrey Emery sold 53,537 shares of the firm’s stock in a transaction on Wednesday, May 13th. The stock was 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 $1,790,812.65. This trade represents a 50.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Kyle Sable sold 49,540 shares of the firm’s stock in a transaction on 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 of the company’s stock, valued at approximately $1,639,278.60. This trade represents a 50.00% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 679,535 shares of company stock valued at $21,846,411 over the last quarter. Company insiders own 13.10% of the company’s stock.

Institutional Trading of Perimeter Solutions

Hedge funds and other institutional investors have recently modified their holdings of the company. Jones Financial Companies Lllp purchased a new stake in shares of Perimeter Solutions during the third quarter worth $27,000. Arax Advisory Partners raised its holdings in shares of Perimeter Solutions by 122.8% during the fourth quarter. Arax Advisory Partners now owns 1,047 shares of the company’s stock worth $29,000 after acquiring an additional 577 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its holdings in shares of Perimeter Solutions by 51.6% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,143 shares of the company’s stock worth $31,000 after acquiring an additional 389 shares in the last quarter. EverSource Wealth Advisors LLC purchased a new stake in shares of Perimeter Solutions during the second quarter worth $42,000. Finally, Comerica Bank raised its holdings in shares of Perimeter Solutions by 45.0% during the first quarter. Comerica Bank now owns 4,267 shares of the company’s stock worth $43,000 after acquiring an additional 1,324 shares in the last quarter. 89.93% of the stock is currently owned by hedge funds and other institutional investors.

Perimeter Solutions Stock Performance

PRM opened at $35.42 on Tuesday. The firm has a market cap of $5.78 billion, a PE ratio of -26.44 and a beta of 1.92. The company has a quick ratio of 1.61, a current ratio of 3.09 and a debt-to-equity ratio of 1.01. The business has a fifty day simple moving average of $30.24 and a 200-day simple moving average of $27.69. Perimeter Solutions has a fifty-two week low of $13.05 and a fifty-two week high of $36.01.

Perimeter Solutions (NYSE:PRM) last released its quarterly earnings data on Thursday, May 7th. The company reported $0.06 earnings per share for the quarter, topping the consensus estimate of $0.02 by $0.04. The business had revenue of $125.07 million during the quarter, compared to analyst estimates of $121.80 million. Perimeter Solutions had a positive return on equity of 18.29% and a negative net margin of 26.93%. As a group, equities analysts predict that Perimeter Solutions will post 1.78 EPS for the current fiscal year.

Perimeter Solutions Company Profile

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.