Brokerages Set Perimeter Solutions, SA (NYSE:PRM) Price Target at $40.67

Shares of Perimeter Solutions, SA (NYSE:PRMGet Free Report) have been given a consensus rating of “Moderate Buy” by the five ratings firms that are presently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, three have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $40.6667.

A number of research analysts have weighed in on PRM shares. Wall Street Zen raised Perimeter Solutions from a “hold” rating to a “buy” rating in a research note on Saturday, May 9th. Morgan Stanley upped their price objective on Perimeter Solutions from $35.00 to $40.00 and gave the stock an “overweight” rating in a report on Monday, May 11th. Zacks Research upgraded Perimeter Solutions from a “hold” rating to a “strong-buy” rating in a report on Tuesday, April 14th. Weiss Ratings raised shares of Perimeter Solutions from a “sell (d)” rating to a “sell (d+)” rating in a research report on Thursday, May 28th. Finally, UBS Group upped their price objective on shares of Perimeter Solutions from $30.00 to $34.00 and gave the company a “buy” rating in a research report on Thursday, May 7th.

Check Out Our Latest Report on Perimeter Solutions

Insider Buying and Selling at Perimeter Solutions

In other Perimeter Solutions news, CEO Haitham Khouri sold 117,511 shares of the company’s stock in a transaction dated 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 completion of the transaction, the chief executive officer directly owned 1,874,615 shares of the company’s stock, valued at $58,469,241.85. This represents a 5.90% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Jeffrey Emery sold 99,963 shares of the company’s stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $32.92, for a total transaction of $3,290,781.96. Following the completion of the transaction, the insider directly owned 46,500 shares of the company’s stock, valued at approximately $1,530,780. The trade was a 68.25% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 679,535 shares of company stock valued at $21,846,411 in the last ninety days. Insiders own 13.10% of the company’s stock.

Hedge Funds Weigh In On Perimeter Solutions

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Arax Advisory Partners boosted its position in Perimeter Solutions by 122.8% in the 4th quarter. Arax Advisory Partners now owns 1,047 shares of the company’s stock valued at $29,000 after buying an additional 577 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its position in shares of Perimeter Solutions by 51.6% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,143 shares of the company’s stock worth $31,000 after purchasing an additional 389 shares during the last quarter. Jones Financial Companies Lllp bought a new position in shares of Perimeter Solutions during the third quarter worth about $27,000. EverSource Wealth Advisors LLC lifted its position in shares of Perimeter Solutions by 20.0% during 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 during the last quarter. Finally, Larson Financial Group LLC lifted its position in shares of Perimeter Solutions by 55.7% during the fourth quarter. Larson Financial Group LLC now owns 2,514 shares of the company’s stock worth $69,000 after purchasing an additional 899 shares during the last quarter. 89.93% of the stock is owned by hedge funds and other institutional investors.

Perimeter Solutions Trading Up 2.4%

Shares of Perimeter Solutions stock opened at $36.32 on Tuesday. Perimeter Solutions has a fifty-two week low of $13.05 and a fifty-two week high of $36.42. The firm has a market cap of $5.92 billion, a PE ratio of -27.10 and a beta of 1.92. The business’s fifty day moving average is $30.46 and its two-hundred day moving average is $27.76. The company has a quick ratio of 1.61, a current ratio of 3.09 and a debt-to-equity ratio of 1.01.

Perimeter Solutions (NYSE:PRMGet Free Report) 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. Analysts anticipate that Perimeter Solutions will post 1.78 earnings per share for the current year.

Perimeter Solutions Company Profile

(Get Free Report)

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.

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