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

Shares of Perimeter Solutions, SA (NYSE:PRM - Get Free Report) reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $13.84 and last traded at $13.61, with a volume of 99017 shares. The stock had previously closed at $13.57.

Analysts Set New Price Targets

PRM has been the topic of a number of recent research reports. UBS Group lifted their price objective on shares of Perimeter Solutions from $8.75 to $11.00 and gave the company a "neutral" rating in a report on Friday, August 16th. Morgan Stanley upped their price target on shares of Perimeter Solutions from $14.00 to $18.00 and gave the stock an "overweight" rating in a research report on Monday, September 16th.

Perimeter Solutions Price Performance

The company has a current ratio of 3.61, a quick ratio of 1.87 and a debt-to-equity ratio of 0.63. The firm has a market capitalization of $1.98 billion, a P/E ratio of -34.03 and a beta of 2.02. The company has a 50 day moving average of $12.46 and a 200-day moving average of $9.67.

Perimeter Solutions (NYSE:PRM - Get Free Report) last posted its quarterly earnings data on Thursday, August 1st. The company reported $0.14 EPS for the quarter, topping analysts' consensus estimates of $0.03 by $0.11. The firm 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 quarter last year, the company earned ($0.05) EPS. On average, sell-side analysts predict that Perimeter Solutions, SA will post 0.6 EPS for the current year.

Institutional Trading of Perimeter Solutions

Institutional investors and hedge funds have recently modified their holdings of the business. Dimensional Fund Advisors LP increased its holdings in Perimeter Solutions by 59.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,878,518 shares of the company's stock worth $14,708,000 after purchasing an additional 698,622 shares in the last quarter. Maverick Capital Ltd. grew its holdings 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 last quarter. Senator Investment Group LP increased its position in Perimeter Solutions by 5.7% in the 1st quarter. Senator Investment Group LP now owns 2,114,300 shares of the company's stock valued at $15,688,000 after acquiring an additional 114,300 shares during the period. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Perimeter Solutions during the first quarter valued at $423,000. Finally, American Century Companies Inc. lifted its holdings in shares of Perimeter Solutions by 66.6% during the second quarter. American Century Companies Inc. now owns 123,252 shares of the company's stock worth $965,000 after purchasing an additional 49,251 shares during the period. 89.93% of the stock is currently owned by institutional investors.

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.