Perimeter Solutions (NYSE:PRM) Reaches New 52-Week High at $13.67

Shares of Perimeter Solutions, SA (NYSE:PRM) hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $13.67 and last traded at $13.45, with a volume of 1120288 shares. The stock had previously closed at $13.24.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on PRM shares. UBS Group raised their price objective on Perimeter Solutions from $8.75 to $11.00 and gave the stock a “neutral” rating in a report on Friday, August 16th. Morgan Stanley increased their target price on shares of Perimeter Solutions from $14.00 to $18.00 and gave the stock an “overweight” rating in a research note on Monday, September 16th.

Perimeter Solutions Stock Up 1.6 %

The firm has a market cap of $1.95 billion, a price-to-earnings ratio of -57.57 and a beta of 2.00. The firm’s 50 day moving average price is $10.97 and its two-hundred day moving average price is $8.70. The company has a debt-to-equity ratio of 0.63, a current ratio of 3.61 and a quick ratio of 1.87.

Perimeter Solutions (NYSE:PRM) last announced its quarterly earnings data on Thursday, August 1st. The company reported $0.14 EPS for the quarter, beating analysts’ consensus estimates of $0.03 by $0.11. The firm had revenue of $127.28 million during the quarter, compared to the consensus estimate 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 quarter last year, the firm earned ($0.05) earnings per share. As a group, sell-side analysts forecast that Perimeter Solutions, SA will post 0.49 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Perimeter Solutions

A number of hedge funds have recently added to or reduced their stakes in the company. Principal Financial Group Inc. lifted its position in Perimeter Solutions by 0.5% in the first quarter. Principal Financial Group Inc. now owns 10,573,592 shares of the company’s stock valued at $78,456,000 after purchasing an additional 54,626 shares during the period. Pennant Investors LP increased its holdings in Perimeter Solutions by 43.8% in the fourth quarter. Pennant Investors LP now owns 2,300,000 shares of the company’s stock valued at $10,580,000 after buying an additional 700,000 shares in the last quarter. Senator Investment Group LP increased its holdings in Perimeter Solutions by 0.5% in the second quarter. Senator Investment Group LP now owns 2,125,000 shares of the company’s stock valued at $16,639,000 after buying an additional 10,700 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in Perimeter Solutions by 59.2% in the second quarter. Dimensional Fund Advisors LP now owns 1,878,518 shares of the company’s stock valued at $14,708,000 after buying an additional 698,622 shares in the last quarter. Finally, Wellington Management Group LLP increased its holdings in Perimeter Solutions by 6.7% in the fourth quarter. Wellington Management Group LLP now owns 1,551,489 shares of the company’s stock valued at $7,137,000 after buying an additional 97,372 shares in the last quarter. Institutional investors and hedge funds own 89.93% of the company’s stock.

About Perimeter Solutions

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.