Perimeter Solutions (NYSE:PRM) Trading Down 6.2% – Should You Sell?

Perimeter Solutions, SA (NYSE:PRM)’s stock price dropped 6.2% on Monday . The stock traded as low as $27.54 and last traded at $27.7970. Approximately 115,021 shares traded hands during trading, a decline of 81% from the average daily volume of 620,297 shares. The stock had previously closed at $29.64.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. UBS Group cut Perimeter Solutions from a “buy” rating to a “neutral” rating and lifted their target price for the stock from $30.00 to $31.00 in a report on Monday. Zacks Research cut Perimeter Solutions from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 17th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Perimeter Solutions in a research note on Wednesday, October 8th. Finally, Morgan Stanley set a $35.00 target price on shares of Perimeter Solutions in a research report on Monday, December 15th. One analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Perimeter Solutions has a consensus rating of “Hold” and an average price target of $33.00.

Perimeter Solutions Price Performance

The company has a market capitalization of $4.10 billion, a PE ratio of 65.94 and a beta of 1.97. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.72 and a current ratio of 2.22. The stock has a 50 day moving average price of $27.23 and a two-hundred day moving average price of $22.28.

Perimeter Solutions (NYSE:PRM) last announced its quarterly earnings results on Thursday, October 30th. The company reported $0.82 EPS for the quarter, topping the consensus estimate of $0.68 by $0.14. The company had revenue of $315.44 million for the quarter, compared to analyst estimates of $238.27 million. Perimeter Solutions had a net margin of 12.26% and a return on equity of 17.33%. Equities analysts forecast that Perimeter Solutions, SA will post 0.71 earnings per share for the current year.

Insider Buying and Selling at Perimeter Solutions

In related news, CFO Kyle Sable sold 100,000 shares of the stock in a transaction that occurred on Friday, December 12th. The stock was sold at an average price of $28.47, for a total transaction of $2,847,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 10.00% of the company’s stock.

Institutional Investors Weigh In On Perimeter Solutions

A number of institutional investors have recently added to or reduced their stakes in PRM. Jones Financial Companies Lllp acquired a new position in Perimeter Solutions in the third quarter valued at about $27,000. EverSource Wealth Advisors LLC acquired a new stake in shares of Perimeter Solutions during the second quarter worth approximately $42,000. Cullen Frost Bankers Inc. boosted its holdings in shares of Perimeter Solutions by 161.2% in the 2nd quarter. Cullen Frost Bankers Inc. now owns 3,124 shares of the company’s stock worth $43,000 after acquiring an additional 1,928 shares in the last quarter. Comerica Bank boosted its holdings in shares of Perimeter Solutions by 45.0% in the 1st quarter. Comerica Bank now owns 4,267 shares of the company’s stock worth $43,000 after acquiring an additional 1,324 shares in the last quarter. Finally, Brown Lisle Cummings Inc. bought a new stake in Perimeter Solutions during the 3rd quarter worth approximately $45,000. 89.93% of the stock is owned by institutional investors and hedge funds.

About Perimeter Solutions

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.