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

Perimeter Solutions, SA (NYSE:PRM) has been given an average recommendation of “Hold” by the six brokerages that are currently covering the firm, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell rating and four have given a buy rating to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $41.75.

A number of brokerages have recently issued reports on PRM. Zacks Research cut Perimeter Solutions from a “hold” rating to a “strong sell” rating in a report on Monday, August 10th. Wall Street Zen cut shares of Perimeter Solutions from a “buy” rating to a “hold” rating in a research report on Sunday, July 12th. Weiss Ratings lowered shares of Perimeter Solutions from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Wednesday, August 12th. CJS Securities started coverage on shares of Perimeter Solutions in a report on Tuesday, June 9th. They set a “market outperform” rating and a $48.00 target price on the stock. Finally, JPMorgan Chase & Co. lowered their price target on Perimeter Solutions from $50.00 to $45.00 and set an “overweight” rating for the company in a report on Monday, August 3rd.

Insider Buying and Selling

In related news, major shareholder Windacre Partnership Llc sold 3,393,479 shares of the business’s stock in a transaction that occurred on Friday, June 26th. The stock was sold at an average price of $34.66, for a total transaction of $117,617,982.14. Following the transaction, 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 transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Over the last quarter, insiders sold 5,705,979 shares of company stock worth $195,617,982. Insiders own 13.10% of the company’s stock.

Institutional Trading of Perimeter Solutions

Hedge funds have recently made changes to their positions in the company. Principal Financial Group Inc. lifted its position in shares of Perimeter Solutions by 15.0% during the first quarter. Principal Financial Group Inc. now owns 12,513,159 shares of the company’s stock worth $305,572,000 after purchasing an additional 1,634,158 shares in the last quarter. Wellington Management Group LLP acquired a new stake in Perimeter Solutions during the 2nd quarter valued at $22,162,000. Renaissance Technologies LLC lifted its holdings in Perimeter Solutions by 2,744.1% in the 1st quarter. Renaissance Technologies LLC now owns 591,257 shares of the company’s stock worth $14,438,000 after buying an additional 570,468 shares in the last quarter. Weitz Investment Management Inc. purchased a new position in Perimeter Solutions in the 2nd quarter valued at about $16,072,000. Finally, Bessemer Group Inc. boosted its position in Perimeter Solutions by 61.2% in the 1st quarter. Bessemer Group Inc. now owns 1,064,925 shares of the company’s stock valued at $26,006,000 after buying an additional 404,417 shares during the last quarter. Hedge funds and other institutional investors own 89.93% of the company’s stock.

Perimeter Solutions Stock Down 4.9%

Shares of NYSE PRM opened at $28.32 on Thursday. The stock has a market capitalization of $4.64 billion, a PE ratio of -12.70 and a beta of 1.90. The company has a quick ratio of 0.93, a current ratio of 1.57 and a debt-to-equity ratio of 1.19. The firm has a fifty day moving average of $32.60 and a 200-day moving average of $30.81. Perimeter Solutions has a 52-week low of $19.70 and a 52-week high of $38.17.

Perimeter Solutions (NYSE:PRM) last issued its earnings results on Friday, July 31st. The company reported $0.35 earnings per share for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $213.81 million during the quarter, compared to analyst estimates of $216.89 million. On average, analysts anticipate that Perimeter Solutions will post 1.54 EPS for the current year.

Perimeter Solutions Company Profile

Perimeter Solutions, Inc is a specialty chemicals and fire-safety company that develops, manufactures and supplies products used in wildfire control, industrial fire protection and chemical applications. The company serves customers across North America and international markets through a portfolio of fire-safety and specialty chemical products.

Its fire-safety business provides firefighting foams, fire retardants and related solutions for wildland firefighting, aviation, military, industrial and municipal applications.