Perimeter Solutions, SA (NYSE:PRM) Receives $41.75 Consensus Target Price from Brokerages

Shares of Perimeter Solutions, SA (NYSE:PRM) have received an average recommendation of “Hold” from the six brokerages that are currently covering the company, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell rating and four have given a buy rating to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $41.75.

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

Perimeter Solutions Trading Down 1.5%

NYSE PRM opened at $31.69 on Thursday. Perimeter Solutions has a one year low of $19.70 and a one year high of $38.17. The company has a 50-day simple moving average of $32.78 and a 200-day simple moving average of $30.74. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.93 and a current ratio of 1.57. The firm has a market capitalization of $5.19 billion, a PE ratio of -14.21 and a beta of 1.90.

Perimeter Solutions (NYSE:PRM) last released its quarterly earnings data on Friday, July 31st. The company reported $0.35 earnings per share for the quarter, missing the consensus estimate of $0.43 by ($0.08). Perimeter Solutions had a positive return on equity of 19.15% and a negative net margin of 44.86%.The business had revenue of $213.81 million for the quarter, compared to analyst estimates of $216.89 million. On average, equities analysts forecast that Perimeter Solutions will post 1.54 earnings per share for the current year.

Insider Buying and Selling

In related news, major shareholder Windacre Partnership Llc sold 1,875,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 30th. The stock was sold at an average price of $33.90, for a total value of $63,562,500.00. Following the sale, the insider directly owned 16,148,621 shares in the company, valued at $547,438,251.90. This trade represents a 10.40% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In the last 90 days, insiders sold 5,705,979 shares of company stock valued at $195,617,982. 13.10% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Principal Financial Group Inc. grew its position in Perimeter Solutions by 15.0% in the 1st quarter. Principal Financial Group Inc. now owns 12,513,159 shares of the company’s stock valued at $305,572,000 after buying an additional 1,634,158 shares in the last quarter. Wellington Management Group LLP bought a new stake in shares of Perimeter Solutions during the 2nd quarter worth about $22,162,000. Renaissance Technologies LLC raised its position in shares of Perimeter Solutions by 2,744.1% during 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. acquired a new stake in shares of Perimeter Solutions in the 2nd quarter worth approximately $16,072,000. Finally, Bessemer Group Inc. lifted its stake in shares of Perimeter Solutions by 61.2% in the 1st quarter. Bessemer Group Inc. now owns 1,064,925 shares of the company’s stock worth $26,006,000 after acquiring an additional 404,417 shares during the period. Institutional investors own 89.93% of the company’s stock.

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.