Perimeter Solutions, SA (NYSE:PRM) Given Consensus Recommendation of “Buy” by Analysts

Shares of Perimeter Solutions, SA (NYSE:PRM) have been assigned a consensus rating of “Buy” from the five research firms that are covering the firm, MarketBeat.com reports. One analyst has rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating on the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $40.6667.

A number of analysts recently commented on PRM shares. Morgan Stanley boosted their target price on shares of Perimeter Solutions from $35.00 to $40.00 and gave the stock an “overweight” rating in a report on Monday, May 11th. Weiss Ratings upgraded shares of Perimeter Solutions from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, June 17th. Zacks Research upgraded shares of Perimeter Solutions from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, April 14th. CJS Securities assumed coverage on Perimeter Solutions in a report on Tuesday, June 9th. They issued a “market outperform” rating and a $48.00 price target on the stock. Finally, Wall Street Zen upgraded Perimeter Solutions from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th.

Perimeter Solutions Price Performance

NYSE:PRM opened at $33.86 on Friday. The business’s 50-day moving average price is $32.96 and its 200 day moving average price is $28.50. The firm has a market cap of $5.52 billion, a P/E ratio of -25.27 and a beta of 1.90. Perimeter Solutions has a 52-week low of $15.00 and a 52-week high of $38.17. The company has a quick ratio of 1.61, a current ratio of 3.09 and a debt-to-equity ratio of 1.01.

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

Insider Buying and Selling

In related news, insider Jeffrey Emery sold 99,963 shares of Perimeter Solutions stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $32.92, for a total value of $3,290,781.96. Following the transaction, the insider owned 46,500 shares of the company’s stock, valued at approximately $1,530,780. This trade represents a 68.25% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Kyle Sable sold 150,000 shares of the business’s stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $31.52, for a total value of $4,728,000.00. Following the sale, the chief financial officer owned 20,000 shares in the company, valued at approximately $630,400. The trade was a 88.24% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 6,385,514 shares of company stock valued at $217,464,393. Insiders own 13.10% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in PRM. 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 valued at $29,000 after acquiring an additional 577 shares during the period. Northwestern Mutual Wealth Management Co. boosted its stake in Perimeter Solutions by 51.6% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,143 shares of the company’s stock worth $31,000 after purchasing an additional 389 shares during the period. EverSource Wealth Advisors LLC purchased a new position in Perimeter Solutions during the 2nd quarter worth approximately $42,000. Comerica Bank grew its position in Perimeter Solutions by 45.0% during the 1st quarter. Comerica Bank now owns 4,267 shares of the company’s stock worth $43,000 after purchasing an additional 1,324 shares in the last quarter. Finally, Larson Financial Group LLC grew its position in Perimeter Solutions by 55.7% during the 4th quarter. Larson Financial Group LLC now owns 2,514 shares of the company’s stock worth $69,000 after purchasing an additional 899 shares in the last quarter. 89.93% of the stock is owned by hedge funds and other institutional investors.

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.