Perimeter Solutions (NYSE:PRM) Hits New 1-Year High – Still a Buy?

Perimeter Solutions, SA (NYSE:PRM) shares hit a new 52-week high during trading on Friday . The company traded as high as $28.38 and last traded at $28.0480, with a volume of 906242 shares changing hands. The stock had previously closed at $27.58.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. Zacks Research upgraded Perimeter Solutions from a “hold” rating to a “strong-buy” rating in a report on Friday, October 24th. Morgan Stanley reaffirmed an “overweight” rating and set a $27.00 target price on shares of Perimeter Solutions in a research note on Friday, October 17th. UBS Group lifted their target price on Perimeter Solutions from $21.00 to $25.00 and gave the stock a “buy” rating in a report on Tuesday, September 30th. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of Perimeter Solutions in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $26.00.

Perimeter Solutions Stock Up 2.2%

The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.72 and a current ratio of 2.22. The stock’s 50 day simple moving average is $24.20 and its 200 day simple moving average is $19.51. The firm has a market cap of $4.24 billion, a P/E ratio of 68.24 and a beta of 1.96.

Perimeter Solutions (NYSE:PRM) last issued its quarterly earnings data 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 firm had revenue of $315.44 million during the quarter, compared to analysts’ expectations of $238.27 million. Research analysts anticipate that Perimeter Solutions, SA will post 0.71 EPS for the current year.

Insider Buying and Selling

In other Perimeter Solutions news, Director Vivek Raj sold 25,000 shares of the business’s stock in a transaction that occurred on Thursday, September 11th. The stock was sold at an average price of $22.45, for a total transaction of $561,250.00. Following the completion of the sale, the director directly owned 121,701 shares of the company’s stock, valued at approximately $2,732,187.45. The trade was a 17.04% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 10.00% of the company’s stock.

Institutional Investors Weigh In On Perimeter Solutions

Institutional investors have recently bought and sold shares of the stock. Alpha Wave Global LP purchased a new stake in Perimeter Solutions in the 2nd quarter valued at $11,155,000. Alyeska Investment Group L.P. purchased a new stake in shares of Perimeter Solutions in the first quarter valued at about $8,056,000. Raymond James Financial Inc. lifted its position in shares of Perimeter Solutions by 364.0% during the first quarter. Raymond James Financial Inc. now owns 926,084 shares of the company’s stock valued at $9,326,000 after purchasing an additional 726,484 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its holdings in Perimeter Solutions by 50.4% during the third quarter. Arrowstreet Capital Limited Partnership now owns 2,132,167 shares of the company’s stock worth $47,739,000 after purchasing an additional 714,816 shares during the last quarter. Finally, Millennium Management LLC purchased a new position in Perimeter Solutions during the third quarter worth about $14,612,000. Institutional investors own 89.93% of the company’s stock.

Perimeter Solutions Company Profile

Perimeter Solutions, SA manufactures and supplies firefighting products and lubricant additives in the United States, Germany, and internationally. It operates in two segments, Fire Safety and Specialty Products. The Fire Safety segment provides fire retardants and firefighting foams, as well as specialized equipment and services for federal, state, provincial, local/municipal, and commercial customers.