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

Perimeter Solutions, SA (NYSE:PRM) has earned a consensus recommendation of “Buy” from the six ratings firms that are covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a hold recommendation, four have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $43.00.

PRM has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. assumed coverage on shares of Perimeter Solutions in a report on Thursday. They set an “overweight” rating and a $50.00 price target for the company. Morgan Stanley lifted their price objective on shares of Perimeter Solutions from $35.00 to $40.00 and gave the company an “overweight” rating in a research note on Monday, May 11th. Zacks Research upgraded Perimeter Solutions from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, April 14th. Weiss Ratings upgraded Perimeter Solutions from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, June 17th. Finally, CJS Securities assumed coverage on Perimeter Solutions in a report on Tuesday, June 9th. They set a “market outperform” rating and a $48.00 price target for the company.

Perimeter Solutions Price Performance

Shares of NYSE PRM traded down $0.80 during mid-day trading on Friday, reaching $34.29. The company had a trading volume of 1,250,988 shares, compared to its average volume of 1,833,395. The company has a debt-to-equity ratio of 1.01, a quick ratio of 1.61 and a current ratio of 3.09. Perimeter Solutions has a one year low of $15.43 and a one year high of $38.17. The firm has a market cap of $5.59 billion, a price-to-earnings ratio of -25.59 and a beta of 1.90. The business’s 50-day simple moving average is $33.27 and its 200 day simple moving average is $28.71.

Perimeter Solutions (NYSE:PRM) last posted 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 analysts’ expectations of $121.80 million. Perimeter Solutions had a negative net margin of 26.93% and a positive return on equity of 18.29%. On average, research analysts predict that Perimeter Solutions will post 1.78 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, major shareholder Windacre Partnership Llc sold 3,393,479 shares of Perimeter Solutions stock in a transaction that occurred on Friday, June 26th. The shares were sold at an average price of $34.66, for a total transaction of $117,617,982.14. Following the sale, the insider directly owned 18,461,121 shares of the company’s stock, valued at approximately $639,862,453.86. The trade was a 15.53% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Kyle Sable sold 150,000 shares of the stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $31.52, for a total transaction of $4,728,000.00. Following the completion of the transaction, the chief financial officer directly owned 20,000 shares of the company’s stock, 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. Insiders sold a total of 6,385,514 shares of company stock worth $217,464,393 in the last ninety days. Insiders own 13.10% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Balance Capital Partners L.P. bought a new position in shares of Perimeter Solutions in the 4th quarter valued at $69,115,000. Principal Financial Group Inc. grew its position in Perimeter Solutions by 15.0% during the 1st quarter. Principal Financial Group Inc. now owns 12,513,159 shares of the company’s stock worth $305,572,000 after acquiring an additional 1,634,158 shares during the last quarter. Janus Henderson Group PLC increased its holdings in Perimeter Solutions by 54.9% in the 4th quarter. Janus Henderson Group PLC now owns 3,691,773 shares of the company’s stock worth $101,634,000 after purchasing an additional 1,308,602 shares in the last quarter. Invesco Ltd. raised its position in Perimeter Solutions by 157.3% in the fourth quarter. Invesco Ltd. now owns 1,294,686 shares of the company’s stock valued at $35,643,000 after purchasing an additional 791,558 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its position in Perimeter Solutions by 50.4% in the third quarter. Arrowstreet Capital Limited Partnership now owns 2,132,167 shares of the company’s stock valued at $47,739,000 after purchasing an additional 714,816 shares during the last quarter. 89.93% of the stock is currently owned by institutional investors and hedge funds.

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.