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

Shares of Perimeter Solutions, SA (NYSE:PRM) hit a new 52-week high on Thursday . The company traded as high as $34.91 and last traded at $35.1260, with a volume of 145561 shares changing hands. The stock had previously closed at $33.82.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. UBS Group raised their target price on Perimeter Solutions from $30.00 to $34.00 and gave the company a “buy” rating in a report on Thursday, May 7th. Zacks Research raised Perimeter Solutions from a “hold” rating to a “strong-buy” rating in a report on Tuesday, April 14th. CJS Securities assumed coverage on Perimeter Solutions in a report on Tuesday. They issued a “market outperform” rating and a $48.00 target price on the stock. Morgan Stanley raised their target price on Perimeter Solutions from $35.00 to $40.00 and gave the company an “overweight” rating in a report on Monday, May 11th. Finally, Wall Street Zen raised Perimeter Solutions from a “hold” rating to a “buy” rating in a report on Saturday, May 9th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Perimeter Solutions has an average rating of “Moderate Buy” and an average target price of $40.67.

Perimeter Solutions Stock Performance

The company has a debt-to-equity ratio of 1.01, a quick ratio of 1.61 and a current ratio of 3.09. The company has a market cap of $5.63 billion, a price-to-earnings ratio of -25.76 and a beta of 1.92. The company has a fifty day moving average of $29.84 and a two-hundred day moving average of $27.58.

Perimeter Solutions (NYSE:PRM) last released its quarterly earnings data on Thursday, May 7th. The company reported $0.06 earnings per share for the quarter, beating the consensus estimate of $0.02 by $0.04. Perimeter Solutions had a positive return on equity of 18.29% and a negative net margin of 26.93%.The company had revenue of $125.07 million for the quarter, compared to the consensus estimate of $121.80 million. Equities research analysts anticipate that Perimeter Solutions, SA will post 1.91 EPS for the current year.

Insider Activity at Perimeter Solutions

In related news, insider Jeffrey Emery sold 53,537 shares of the firm’s stock in a transaction 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 owned 53,537 shares of the company’s stock, valued at $1,790,812.65. This trade represents a 50.00% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Haitham Khouri sold 117,511 shares of the firm’s stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $31.19, for a total value of $3,665,168.09. Following the sale, the chief executive officer directly 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 SEC filing for this sale provides additional information. Insiders have sold a total of 679,535 shares of company stock valued at $21,846,411 in the last 90 days. 13.10% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Abacus Wealth Partners LLC bought a new position in Perimeter Solutions during the 4th quarter worth $523,000. Universal Beteiligungs und Servicegesellschaft mbH raised its position in Perimeter Solutions by 239.0% during the 4th quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 54,900 shares of the company’s stock worth $1,524,000 after purchasing an additional 38,703 shares during the last quarter. Tudor Investment Corp ET AL raised its position in Perimeter Solutions by 395.5% during the 3rd quarter. Tudor Investment Corp ET AL now owns 144,893 shares of the company’s stock worth $3,244,000 after purchasing an additional 115,653 shares during the last quarter. SG Americas Securities LLC raised its position in Perimeter Solutions by 197.2% during the 4th quarter. SG Americas Securities LLC now owns 230,940 shares of the company’s stock worth $6,358,000 after purchasing an additional 153,228 shares during the last quarter. Finally, Quantbot Technologies LP raised its position in Perimeter Solutions by 1,645.6% during the 3rd quarter. Quantbot Technologies LP now owns 55,876 shares of the company’s stock worth $1,251,000 after purchasing an additional 52,675 shares during the last quarter. 89.93% of the stock is owned by 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.