Perimeter Solutions (NYSE:PRM) Sets New 1-Year High on Analyst Upgrade

Perimeter Solutions, SA (NYSE:PRM)’s stock price hit a new 52-week high on Monday after Morgan Stanley raised their price target on the stock from $14.00 to $18.00. Morgan Stanley currently has an overweight rating on the stock. Perimeter Solutions traded as high as $12.52 and last traded at $12.36, with a volume of 66895 shares. The stock had previously closed at $11.97.

Separately, UBS Group increased their price target on shares of Perimeter Solutions from $8.75 to $11.00 and gave the stock a “neutral” rating in a research report on Friday, August 16th.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in PRM. Quadrant Capital Group LLC raised its position in shares of Perimeter Solutions by 136.5% during the 4th quarter. Quadrant Capital Group LLC now owns 5,540 shares of the company’s stock valued at $25,000 after purchasing an additional 3,198 shares during the period. Fidelis Capital Partners LLC bought a new stake in Perimeter Solutions during the 1st quarter valued at approximately $47,000. Brown Advisory Inc. bought a new stake in Perimeter Solutions during the 4th quarter valued at approximately $49,000. Aigen Investment Management LP bought a new position in Perimeter Solutions in the 4th quarter worth approximately $77,000. Finally, Lazard Asset Management LLC bought a new position in Perimeter Solutions in the 1st quarter worth approximately $78,000. Institutional investors own 89.93% of the company’s stock.

Perimeter Solutions Stock Performance

The business’s fifty day simple moving average is $10.15 and its 200-day simple moving average is $8.29. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.87 and a current ratio of 3.61. The firm has a market capitalization of $1.79 billion, a PE ratio of -53.61 and a beta of 2.00.

Perimeter Solutions (NYSE:PRM) last posted its earnings results on Thursday, August 1st. The company reported $0.14 earnings per share for the quarter, beating the consensus estimate of $0.03 by $0.11. The company had revenue of $127.28 million during the quarter, compared to analysts’ expectations of $113.41 million. Perimeter Solutions had a negative net margin of 14.12% and a positive return on equity of 2.94%. During the same period last year, the company posted ($0.05) earnings per share. As a group, equities research analysts expect that Perimeter Solutions, SA will post 0.49 EPS for the current year.

Perimeter Solutions Company Profile

Perimeter Solutions, SA manufactures and supplies firefighting products and lubricant additives in the United States, Germany, and internationally. It operates in two segments, Fire Safety and Specialty Products. The Fire Safety segment provides fire retardants and firefighting foams, as well as specialized equipment and services for federal, state, provincial, local/municipal, and commercial customers.