Perimeter Solutions, SA (NYSE:PRM) Given Consensus Recommendation of “Buy” by Brokerages

Shares of Perimeter Solutions, SA (NYSE:PRMGet Free Report) have earned a consensus recommendation of “Buy” from the five brokerages that are covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $40.6667.

Several research firms recently commented on PRM. Morgan Stanley raised their price target on shares of Perimeter Solutions from $35.00 to $40.00 and gave the stock an “overweight” rating in a report on Monday, May 11th. CJS Securities started coverage on shares of Perimeter Solutions in a research note on Tuesday, June 9th. They issued a “market outperform” rating and a $48.00 price objective on the stock. Weiss Ratings upgraded shares of Perimeter Solutions from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, June 17th. Zacks Research raised shares of Perimeter Solutions from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, April 14th. Finally, Wall Street Zen upgraded shares of Perimeter Solutions from a “hold” rating to a “buy” rating in a report on Saturday, May 9th.

Read Our Latest Research Report on PRM

Insider Transactions at Perimeter Solutions

In related news, major shareholder Windacre Partnership Llc sold 1,875,000 shares of Perimeter Solutions stock in a transaction on Tuesday, June 30th. The stock was sold at an average price of $33.90, for a total transaction of $63,562,500.00. Following the completion of the sale, the insider owned 16,148,621 shares of the company’s stock, valued at approximately $547,438,251.90. This trade represents a 10.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Haitham Khouri sold 117,511 shares of the business’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 owned 1,874,615 shares in the company, valued at $58,469,241.85. This trade represents a 5.90% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 6,385,514 shares of company stock worth $217,464,393 in the last ninety days. Company insiders own 13.10% of the company’s stock.

Hedge Funds Weigh In On Perimeter Solutions

A number of hedge funds have recently added to or reduced their stakes in the company. Balance Capital Partners L.P. bought a new position in Perimeter Solutions during the fourth quarter valued at approximately $69,115,000. Principal Financial Group Inc. lifted its stake in Perimeter Solutions by 15.0% in the first quarter. Principal Financial Group Inc. now owns 12,513,159 shares of the company’s stock valued at $305,572,000 after acquiring an additional 1,634,158 shares during the last quarter. Janus Henderson Group PLC grew its position in Perimeter Solutions by 54.9% in the fourth quarter. Janus Henderson Group PLC now owns 3,691,773 shares of the company’s stock worth $101,634,000 after acquiring an additional 1,308,602 shares in the last quarter. Invesco Ltd. grew its position in Perimeter Solutions by 157.3% in the fourth quarter. Invesco Ltd. now owns 1,294,686 shares of the company’s stock worth $35,643,000 after acquiring an additional 791,558 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its stake in shares of Perimeter Solutions by 50.4% during the 3rd 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. Institutional investors and hedge funds own 89.93% of the company’s stock.

Perimeter Solutions Trading Down 0.2%

Shares of NYSE PRM opened at $33.86 on Friday. Perimeter Solutions has a one year low of $15.00 and a one year high of $38.17. The firm has a market capitalization of $5.52 billion, a PE ratio of -25.27 and a beta of 1.90. The company has a current ratio of 3.09, a quick ratio of 1.61 and a debt-to-equity ratio of 1.01. The business has a 50-day moving average price of $32.96 and a two-hundred day moving average price of $28.50.

Perimeter Solutions (NYSE:PRMGet Free Report) last released its earnings results 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. The company had revenue of $125.07 million for the quarter, compared to analysts’ expectations of $121.80 million. Perimeter Solutions had a positive return on equity of 18.29% and a negative net margin of 26.93%. As a group, analysts predict that Perimeter Solutions will post 1.78 earnings per share for the current fiscal year.

About Perimeter Solutions

(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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Analyst Recommendations for Perimeter Solutions (NYSE:PRM)

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