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

Perimeter Solutions, SA (NYSE:PRM) reached a new 52-week high during trading on Friday . The company traded as high as $29.79 and last traded at $29.6640, with a volume of 111817 shares trading hands. The stock had previously closed at $29.30.

Analysts Set New Price Targets

PRM has been the subject of a number of research reports. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Perimeter Solutions in a research note on Wednesday, October 8th. Morgan Stanley set a $35.00 price objective on Perimeter Solutions in a report on Monday, December 15th. Zacks Research cut shares of Perimeter Solutions from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 17th. Finally, UBS Group upped their price target on shares of Perimeter Solutions from $21.00 to $25.00 and gave the company a “buy” rating in a report on Tuesday, September 30th. Two research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $30.00.

Perimeter Solutions Stock Up 1.0%

The business’s 50 day simple moving average is $27.10 and its 200 day simple moving average is $22.05. The company has a market capitalization of $4.38 billion, a PE ratio of 70.48 and a beta of 1.97. The company has a quick ratio of 1.72, a current ratio of 2.22 and a debt-to-equity ratio of 0.61.

Perimeter Solutions (NYSE:PRM) last released its quarterly earnings results on Thursday, October 30th. The company reported $0.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.68 by $0.14. Perimeter Solutions had a net margin of 12.26% and a return on equity of 17.33%. The business had revenue of $315.44 million for the quarter, compared to analyst estimates of $238.27 million. As a group, analysts forecast that Perimeter Solutions, SA will post 0.71 EPS for the current year.

Insider Activity at Perimeter Solutions

In related news, CFO Kyle Sable sold 100,000 shares of the firm’s stock in a transaction that occurred on Friday, December 12th. The shares were sold at an average price of $28.47, for a total transaction of $2,847,000.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 10.00% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Principal Financial Group Inc. lifted its position in shares of Perimeter Solutions by 0.5% in the third quarter. Principal Financial Group Inc. now owns 11,012,789 shares of the company’s stock worth $246,577,000 after buying an additional 57,244 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in Perimeter Solutions by 4.5% in the 3rd quarter. Dimensional Fund Advisors LP now owns 5,145,141 shares of the company’s stock worth $115,188,000 after purchasing an additional 221,290 shares during the last quarter. Geode Capital Management LLC boosted its position in Perimeter Solutions by 3.1% during the second quarter. Geode Capital Management LLC now owns 3,292,279 shares of the company’s stock worth $45,834,000 after purchasing an additional 98,953 shares during the period. Bank of America Corp DE grew its holdings in Perimeter Solutions by 35.8% during the second quarter. Bank of America Corp DE now owns 2,274,018 shares of the company’s stock valued at $31,654,000 after purchasing an additional 599,972 shares during the last quarter. Finally, Equitable Trust Co. raised its position in shares of Perimeter Solutions by 5.4% in the second quarter. Equitable Trust Co. now owns 2,253,341 shares of the company’s stock valued at $31,367,000 after purchasing an additional 116,220 shares during the period. Institutional investors own 89.93% of the company’s stock.

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.