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

Shares of Perimeter Solutions, SA (NYSE:PRM) have earned an average rating of “Moderate Buy” from the six ratings firms that are covering the stock, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $41.75.

A number of research analysts recently issued reports on the company. Zacks Research downgraded Perimeter Solutions from a “strong-buy” rating to a “hold” rating in a report on Friday, July 10th. Morgan Stanley lifted their price objective on Perimeter Solutions from $35.00 to $40.00 and gave the stock an “overweight” rating in a research report on Monday, May 11th. Weiss Ratings upgraded Perimeter Solutions from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, July 29th. JPMorgan Chase & Co. dropped their price target on Perimeter Solutions from $50.00 to $45.00 and set an “overweight” rating for the company in a research note on Monday. Finally, CJS Securities started coverage on shares of Perimeter Solutions in a report on Tuesday, June 9th. They issued a “market outperform” rating and a $48.00 price target on the stock.

Perimeter Solutions Trading Up 9.0%

NYSE PRM opened at $33.24 on Wednesday. The company has a quick ratio of 1.61, a current ratio of 1.57 and a debt-to-equity ratio of 1.19. The stock’s 50-day simple moving average is $33.97 and its two-hundred day simple moving average is $29.40. Perimeter Solutions has a twelve month low of $15.69 and a twelve month high of $38.17. The company has a market capitalization of $5.44 billion, a price-to-earnings ratio of -14.90 and a beta of 1.91.

Perimeter Solutions (NYSE:PRM) last released its earnings results on Friday, July 31st. The company reported $0.35 EPS for the quarter, missing the consensus estimate of $0.43 by ($0.08). Perimeter Solutions had a negative net margin of 44.86% and a positive return on equity of 19.15%. The business had revenue of $213.81 million for the quarter, compared to the consensus estimate of $216.89 million. Research analysts forecast that Perimeter Solutions will post 1.61 EPS for the current fiscal year.

Insider Activity at Perimeter Solutions

In other Perimeter Solutions news, 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 transaction of $1,790,812.65. Following the sale, the insider directly owned 53,537 shares of the company’s stock, valued at approximately $1,790,812.65. The trade was a 50.00% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Kyle Sable sold 49,540 shares of the 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 transaction, the chief financial officer 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 SEC filing for this sale provides additional information. In the last 90 days, insiders sold 6,385,514 shares of company stock valued at $217,464,393. 13.10% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Perimeter Solutions

Institutional investors have recently modified their holdings of the stock. Balance Capital Partners L.P. purchased a new position in shares of Perimeter Solutions in the 4th quarter worth about $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 valued at $305,572,000 after purchasing an additional 1,634,158 shares during the last quarter. Janus Henderson Group PLC grew its position in Perimeter Solutions by 54.9% during the 4th quarter. Janus Henderson Group PLC now owns 3,691,773 shares of the company’s stock valued at $101,634,000 after purchasing an additional 1,308,602 shares during the last quarter. Invesco Ltd. increased its stake in Perimeter Solutions by 157.3% during the 4th 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 in the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its stake in Perimeter Solutions by 50.4% during the 3rd 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 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.