Perimeter Solutions (NYSE:PRM) Reaches New 1-Year High - Here's What Happened

Perimeter Solutions, SA (NYSE:PRM - Get Free Report)'s stock price hit a new 52-week high during mid-day trading on Friday . The stock traded as high as $13.72 and last traded at $13.63, with a volume of 183477 shares changing hands. The stock had previously closed at $13.40.

Analyst Upgrades and Downgrades

PRM has been the subject of several research analyst reports. UBS Group increased their target price on Perimeter Solutions from $8.75 to $11.00 and gave the company a "neutral" rating in a research note on Friday, August 16th. Morgan Stanley increased their target price on 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 Price Performance

The company has a quick ratio of 1.87, a current ratio of 3.61 and a debt-to-equity ratio of 0.63. The company has a market capitalization of $1.96 billion, a P/E ratio of -58.70 and a beta of 2.02. The business has a 50 day simple moving average of $12.01 and a 200-day simple moving average of $9.33.

Perimeter Solutions (NYSE:PRM - Get Free Report) last issued its quarterly earnings results on Thursday, August 1st. The company reported $0.14 EPS for the quarter, beating analysts' consensus estimates of $0.03 by $0.11. The company had revenue of $127.28 million for the quarter, compared to analyst estimates of $113.41 million. Perimeter Solutions had a positive return on equity of 2.94% and a negative net margin of 14.12%. During the same period last year, the company earned ($0.05) earnings per share. Analysts predict that Perimeter Solutions, SA will post 0.49 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Wellington Management Group LLP boosted its position in shares of Perimeter Solutions by 6.7% in the 4th quarter. Wellington Management Group LLP now owns 1,551,489 shares of the company's stock valued at $7,137,000 after purchasing an additional 97,372 shares during the period. Dimensional Fund Advisors LP boosted its position in Perimeter Solutions by 59.2% during the 2nd 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. Mirae Asset Global Investments Co. Ltd. acquired a new stake in Perimeter Solutions during the 1st quarter worth about $423,000. Maverick Capital Ltd. boosted its position in Perimeter Solutions by 239.3% during the 2nd quarter. Maverick Capital Ltd. now owns 227,477 shares of the company's stock worth $1,781,000 after acquiring an additional 160,432 shares during the period. Finally, American Century Companies Inc. boosted its position in Perimeter Solutions by 66.6% during the 2nd quarter. American Century Companies Inc. now owns 123,252 shares of the company's stock worth $965,000 after acquiring an additional 49,251 shares during the period. 89.93% of the stock is owned by institutional investors and hedge funds.

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.