Perimeter Solutions (NYSE:PRM) Reaches New 12-Month High Following Analyst Upgrade

Perimeter Solutions, SA (NYSE:PRM)’s stock price reached 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 traded. The stock had previously closed at $11.97.

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

Hedge Funds Weigh In On Perimeter Solutions

Large investors have recently modified their holdings of the stock. Quadrant Capital Group LLC increased its stake in 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 in the last quarter. Fidelis Capital Partners LLC bought a new position in Perimeter Solutions in the 1st quarter valued at approximately $47,000. Brown Advisory Inc. purchased a new position in shares of Perimeter Solutions in the fourth quarter worth $49,000. Aigen Investment Management LP bought a new position in shares of Perimeter Solutions during the fourth quarter valued at $77,000. Finally, Lazard Asset Management LLC bought a new stake in Perimeter Solutions in the 1st quarter worth about $78,000. Hedge funds and other institutional investors own 89.93% of the company’s stock.

Perimeter Solutions Stock Up 2.3 %

The company’s 50 day simple moving average is $10.15 and its 200-day simple moving average is $8.29. The firm has a market cap of $1.79 billion, a P/E ratio of -53.61 and a beta of 2.00. The company has a current ratio of 3.61, a quick ratio of 1.87 and a debt-to-equity ratio of 0.63.

Perimeter Solutions (NYSE:PRM) last posted its earnings results on Thursday, August 1st. The company reported $0.14 EPS for the quarter, topping analysts’ consensus estimates of $0.03 by $0.11. The business 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 in the previous year, the firm posted ($0.05) EPS. Research analysts forecast that Perimeter Solutions, SA will post 0.49 earnings per share for the current fiscal 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.