Perimeter Solutions, SA (NYSE:PRM) Receives Consensus Rating of “Moderate Buy” from Brokerages

Shares of Perimeter Solutions, SA (NYSE:PRM) have been given an average rating of “Moderate Buy” by the five research firms that are currently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell rating, three have assigned a buy rating and one has assigned a strong buy rating to 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 have recently weighed in on PRM shares. Weiss Ratings raised Perimeter Solutions from a “sell (d)” rating to a “sell (d+)” rating in a research note on Thursday, May 28th. Wall Street Zen upgraded shares of Perimeter Solutions from a “hold” rating to a “buy” rating in a report on Saturday, May 9th. CJS Securities started coverage on shares of Perimeter Solutions in a research report on Tuesday. They set a “market outperform” rating and a $48.00 price target for the company. Zacks Research raised shares of Perimeter Solutions from a “hold” rating to a “strong-buy” rating in a report on Tuesday, April 14th. Finally, UBS Group boosted their price objective on shares of Perimeter Solutions from $30.00 to $34.00 and gave the company a “buy” rating in a research report on Thursday, May 7th.

Insider Buying and Selling

In other Perimeter Solutions news, CEO Haitham Khouri sold 117,511 shares of the stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $31.19, for a total value of $3,665,168.09. Following the completion of the sale, the chief executive officer owned 1,874,615 shares in the company, valued at approximately $58,469,241.85. This trade represents a 5.90% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Jeffrey Emery sold 53,537 shares of Perimeter Solutions stock in a transaction that occurred 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 in the company, valued at approximately $1,790,812.65. This represents a 50.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 679,535 shares of company stock valued at $21,846,411 over the last ninety days. 13.10% of the stock is owned by insiders.

Institutional Trading of Perimeter Solutions

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Comerica Bank increased its position in Perimeter Solutions by 45.0% during the 1st quarter. Comerica Bank now owns 4,267 shares of the company’s stock valued at $43,000 after purchasing an additional 1,324 shares during the period. Royal Bank of Canada raised its holdings in Perimeter Solutions by 100.0% in the 1st quarter. Royal Bank of Canada now owns 80,608 shares of the company’s stock worth $812,000 after purchasing an additional 40,294 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Perimeter Solutions by 4.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 79,546 shares of the company’s stock worth $801,000 after purchasing an additional 3,428 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of Perimeter Solutions by 4.8% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 328,188 shares of the company’s stock valued at $3,305,000 after purchasing an additional 14,949 shares in the last quarter. Finally, American Century Companies Inc. bought a new stake in shares of Perimeter Solutions during the 2nd quarter valued at about $2,128,000. Hedge funds and other institutional investors own 89.93% of the company’s stock.

Perimeter Solutions Trading Up 1.6%

Shares of NYSE PRM traded up $0.49 during midday trading on Tuesday, reaching $31.57. The company had a trading volume of 42,457 shares, compared to its average volume of 1,118,442. Perimeter Solutions has a one year low of $13.05 and a one year high of $34.89. 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 firm’s fifty day moving average price is $29.36 and its 200-day moving average price is $27.47. The stock has a market cap of $5.15 billion, a PE ratio of -23.46 and a beta of 1.92.

Perimeter Solutions (NYSE:PRM) last posted its quarterly earnings results on Thursday, May 7th. The company reported $0.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.02 by $0.04. The business had revenue of $125.07 million for 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%. On average, equities research analysts anticipate that Perimeter Solutions will post 1.91 earnings per share for the current 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.