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

Shares of Perimeter Solutions, SA (NYSE:PRM) have been given an average recommendation of “Moderate Buy” by the six brokerages that are presently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $43.00.

A number of brokerages have recently commented on PRM. Weiss Ratings downgraded Perimeter Solutions from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Tuesday, July 14th. Wall Street Zen downgraded Perimeter Solutions from a “buy” rating to a “hold” rating in a research report on Sunday, July 12th. JPMorgan Chase & Co. initiated coverage on Perimeter Solutions in a research note on Thursday, July 9th. They issued an “overweight” rating and a $50.00 price target on the stock. Zacks Research cut Perimeter Solutions from a “strong-buy” rating to a “hold” rating in a report on Friday, July 10th. Finally, CJS Securities assumed coverage on shares of Perimeter Solutions in a research note on Tuesday, June 9th. They set a “market outperform” rating and a $48.00 price objective for the company.

Insider Activity at Perimeter Solutions

In other Perimeter Solutions news, insider Jeffrey Emery sold 53,537 shares of the stock in a transaction that occurred on Wednesday, May 13th. The shares were sold at an average price of $33.45, for a total transaction of $1,790,812.65. Following the transaction, 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 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 directly owned 49,540 shares in the company, valued at $1,639,278.60. This trade represents a 50.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 6,385,514 shares of company stock valued at $217,464,393 over the last three months. Insiders own 13.10% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. EverSource Wealth Advisors LLC grew its stake in Perimeter Solutions by 20.0% in the first quarter. EverSource Wealth Advisors LLC now owns 2,295 shares of the company’s stock worth $56,000 after purchasing an additional 383 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its stake in Perimeter Solutions by 51.6% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,143 shares of the company’s stock valued at $31,000 after buying an additional 389 shares in the last quarter. GAMMA Investing LLC lifted its holdings in Perimeter Solutions by 9.0% during the 2nd quarter. GAMMA Investing LLC now owns 5,127 shares of the company’s stock worth $183,000 after buying an additional 425 shares during the last quarter. Allworth Financial LP lifted its holdings in Perimeter Solutions by 14.1% during the 4th quarter. Allworth Financial LP now owns 4,100 shares of the company’s stock worth $113,000 after buying an additional 508 shares during the last quarter. Finally, Comerica Bank grew its position in shares of Perimeter Solutions by 12.2% in the 3rd quarter. Comerica Bank now owns 5,019 shares of the company’s stock worth $112,000 after acquiring an additional 547 shares in the last quarter. 89.93% of the stock is owned by institutional investors and hedge funds.

Perimeter Solutions Stock Performance

NYSE:PRM opened at $35.08 on Wednesday. The company has a debt-to-equity ratio of 1.01, a current ratio of 3.09 and a quick ratio of 1.61. The firm has a market cap of $5.72 billion, a PE ratio of -26.18 and a beta of 1.90. The firm has a 50 day simple moving average of $33.81 and a 200-day simple moving average of $29.24. Perimeter Solutions has a 1-year low of $15.43 and a 1-year high of $38.17.

Perimeter Solutions (NYSE:PRM) last issued its quarterly earnings results on Thursday, May 7th. The company reported $0.06 earnings per share for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $121.80 million. On average, equities analysts expect that Perimeter Solutions will post 1.66 EPS for the current year.

Perimeter Solutions Company Profile

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.