Perimeter Solutions (NYSE:PRM) Shares Gap Up – Should You Buy?

Shares of Perimeter Solutions, SA (NYSE:PRM) gapped up before the market opened on Friday . The stock had previously closed at $12.12, but opened at $12.47. Perimeter Solutions shares last traded at $12.38, with a volume of 367,160 shares changing hands.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. UBS Group lifted their target price on Perimeter Solutions from $8.75 to $11.00 and gave the company a “neutral” rating in a report on Friday, August 16th. Morgan Stanley boosted their price objective on shares of Perimeter Solutions from $14.00 to $18.00 and gave the company an “overweight” rating in a research note on Monday, September 16th.

Perimeter Solutions Trading Up 0.3 %

The stock has a market cap of $1.78 billion, a PE ratio of -10.76 and a beta of 2.02. The company has a current ratio of 3.91, a quick ratio of 1.87 and a debt-to-equity ratio of 0.67. The firm has a fifty day simple moving average of $12.91 and a two-hundred day simple moving average of $10.19.

Perimeter Solutions (NYSE:PRM) last posted its quarterly earnings data on Tuesday, November 12th. The company reported ($0.61) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.61 by ($1.22). The company had revenue of $288.42 million for the quarter, compared to the consensus estimate of $265.30 million. Perimeter Solutions had a negative return on equity of 10.08% and a negative net margin of 30.57%. During the same period in the prior year, the firm posted $0.31 earnings per share. As a group, equities analysts expect that Perimeter Solutions, SA will post 0.6 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Perimeter Solutions news, CEO Haitham Khouri sold 80,000 shares of the company’s stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $12.05, for a total transaction of $964,000.00. Following the completion of the sale, the chief executive officer now directly owns 429,989 shares in the company, valued at $5,181,367.45. This represents a 15.69 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 8.70% of the stock is owned by insiders.

Hedge Funds Weigh In On Perimeter Solutions

A number of large investors have recently bought and sold shares of PRM. DF Dent & Co. Inc. increased its position in shares of Perimeter Solutions by 27.4% in the third quarter. DF Dent & Co. Inc. now owns 2,341,963 shares of the company’s stock valued at $31,499,000 after acquiring an additional 504,146 shares during the period. Senator Investment Group LP raised its holdings in shares of Perimeter Solutions by 0.5% during the second quarter. Senator Investment Group LP now owns 2,125,000 shares of the company’s stock valued at $16,639,000 after acquiring an additional 10,700 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake 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 worth $14,708,000 after acquiring an additional 698,622 shares during the period. Pennant Select LLC lifted its stake in Perimeter Solutions by 41.6% in the third quarter. Pennant Select LLC now owns 814,000 shares of the company’s stock worth $10,948,000 after acquiring an additional 239,000 shares during the period. Finally, Bank of New York Mellon Corp boosted its holdings in Perimeter Solutions by 4.3% in the second quarter. Bank of New York Mellon Corp now owns 509,868 shares of the company’s stock valued at $3,992,000 after acquiring an additional 21,012 shares in the last quarter. 89.93% of the stock is owned by hedge funds and other institutional investors.

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.