CJS Securities Begins Coverage on Perimeter Solutions (NYSE:PRM)

Stock analysts at CJS Securities assumed coverage on shares of Perimeter Solutions (NYSE:PRM) in a research report issued to clients and investors on Tuesday, Marketbeat.com reports. The firm set a “market outperform” rating and a $48.00 price target on the stock. CJS Securities’ target price indicates a potential upside of 51.56% from the stock’s current price.

A number of other research analysts have also recently issued reports on the company. Weiss Ratings raised Perimeter Solutions from a “sell (d)” rating to a “sell (d+)” rating in a report on Thursday, May 28th. Wall Street Zen upgraded shares of Perimeter Solutions from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. UBS Group boosted their price target 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. Morgan Stanley raised their price objective 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. Finally, Zacks Research raised Perimeter Solutions from a “hold” rating to a “strong-buy” rating in a report on Tuesday, April 14th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $40.67.

Perimeter Solutions Price Performance

NYSE:PRM traded up $0.59 during mid-day trading on Tuesday, hitting $31.67. The company’s stock had a trading volume of 27,329 shares, compared to its average volume of 1,118,415. Perimeter Solutions has a fifty-two week low of $13.05 and a fifty-two week high of $34.89. 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 company has a market capitalization of $5.17 billion, a price-to-earnings ratio of -23.65 and a beta of 1.92. The stock has a fifty day moving average of $29.36 and a 200-day moving average of $27.47.

Perimeter Solutions (NYSE:PRM) last released its quarterly earnings data 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 analyst estimates 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, equities analysts forecast that Perimeter Solutions will post 1.91 EPS for the current fiscal year.

Insider Activity at Perimeter Solutions

In related news, insider Jeffrey Emery sold 53,537 shares of the business’s stock in a transaction that occurred on Wednesday, May 13th. The shares were sold at an average price of $33.45, for a total value of $1,790,812.65. Following the completion of the transaction, the insider owned 53,537 shares in the company, valued at $1,790,812.65. The trade was a 50.00% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Kyle Sable sold 49,540 shares of the company’s stock in a transaction on Wednesday, May 13th. The stock was sold at an average price of $33.09, for a total value of $1,639,278.60. Following the transaction, the chief financial officer directly owned 49,540 shares in the company, valued at approximately $1,639,278.60. This represents a 50.00% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 679,535 shares of company stock valued at $21,846,411 over the last quarter. Corporate insiders own 13.10% of the company’s stock.

Institutional Trading of Perimeter Solutions

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PRM. Abacus Wealth Partners LLC acquired a new position in shares of Perimeter Solutions in the 4th quarter valued at $523,000. Universal Beteiligungs und Servicegesellschaft mbH increased its position in Perimeter Solutions by 239.0% in the 4th quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 54,900 shares of the company’s stock valued at $1,524,000 after acquiring an additional 38,703 shares during the period. Tudor Investment Corp ET AL increased its holdings in Perimeter Solutions by 395.5% in the third quarter. Tudor Investment Corp ET AL now owns 144,893 shares of the company’s stock worth $3,244,000 after purchasing an additional 115,653 shares in the last quarter. SG Americas Securities LLC increased its stake in Perimeter Solutions by 197.2% in the fourth quarter. SG Americas Securities LLC now owns 230,940 shares of the company’s stock valued at $6,358,000 after purchasing an additional 153,228 shares in the last quarter. Finally, Quantbot Technologies LP raised its stake in Perimeter Solutions by 1,645.6% during the 3rd quarter. Quantbot Technologies LP now owns 55,876 shares of the company’s stock worth $1,251,000 after buying an additional 52,675 shares during the period. 89.93% of the stock is currently owned by institutional investors and hedge funds.

Perimeter Solutions Company Profile

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.