Credit Suisse Group Begins Coverage on Platform Specialty Products (NYSE:PAH)

Credit Suisse Group began coverage on shares of Platform Specialty Products (NYSE:PAH) in a report issued on Wednesday, November 15th, MarketBeat reports. The brokerage issued a neutral rating and a $12.00 target price on the specialty chemicals company’s stock.

A number of other brokerages also recently issued reports on PAH. UBS restated a buy rating and issued a $17.00 price objective (up previously from $16.00) on shares of Platform Specialty Products in a research note on Thursday, August 10th. Zacks Investment Research raised Platform Specialty Products from a sell rating to a hold rating in a research report on Saturday, August 12th. BidaskClub cut Platform Specialty Products from a hold rating to a sell rating in a research report on Saturday, August 12th. SunTrust Banks raised Platform Specialty Products from a hold rating to a buy rating and upped their price target for the company from $13.00 to $15.00 in a research report on Monday, September 18th. Finally, Barclays dropped their price target on Platform Specialty Products from $15.00 to $14.00 and set an equal weight rating on the stock in a research report on Wednesday, October 11th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and seven have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and an average price target of $13.50.

Platform Specialty Products (NYSE:PAH) opened at $9.60 on Wednesday. The company has a quick ratio of 1.55, a current ratio of 2.05 and a debt-to-equity ratio of 1.77. Platform Specialty Products has a 12 month low of $9.11 and a 12 month high of $14.82. The stock has a market capitalization of $2,856.62, a P/E ratio of 13.63, a price-to-earnings-growth ratio of 1.06 and a beta of 3.20.

Platform Specialty Products (NYSE:PAH) last issued its earnings results on Thursday, November 2nd. The specialty chemicals company reported $0.17 earnings per share for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.01). Platform Specialty Products had a positive return on equity of 7.45% and a negative net margin of 4.12%. The firm had revenue of $904.30 million for the quarter, compared to analyst estimates of $912.19 million. During the same period in the previous year, the company earned $0.14 earnings per share. Platform Specialty Products’s revenue for the quarter was up 1.5% compared to the same quarter last year. equities research analysts anticipate that Platform Specialty Products will post 0.77 EPS for the current year.

Institutional investors and hedge funds have recently bought and sold shares of the stock. AXA bought a new position in Platform Specialty Products during the 2nd quarter worth approximately $22,303,000. BlackRock Inc. grew its position in shares of Platform Specialty Products by 20,109.1% in the 1st quarter. BlackRock Inc. now owns 10,392,944 shares of the specialty chemicals company’s stock worth $135,317,000 after buying an additional 10,341,517 shares during the last quarter. First Trust Advisors LP grew its position in shares of Platform Specialty Products by 49.9% in the 2nd quarter. First Trust Advisors LP now owns 553,237 shares of the specialty chemicals company’s stock worth $7,015,000 after buying an additional 184,273 shares during the last quarter. Robeco Institutional Asset Management B.V. bought a new stake in shares of Platform Specialty Products in the 2nd quarter worth approximately $542,000. Finally, American Century Companies Inc. bought a new stake in shares of Platform Specialty Products in the 2nd quarter worth approximately $2,231,000. Institutional investors and hedge funds own 93.51% of the company’s stock.

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About Platform Specialty Products

Platform Specialty Products Corporation produces and sells specialty chemical products in the Americas, the Asia-Pacific, and Europe. It operates through two segments, Performance Solutions and Agricultural Solutions. The Performance Solutions segment offers plating products that are used to plate holes; electroless nickel products, which are applied to various metal and plastic surfaces; electronic assembly materials for use in the electronic market and residential boiler systems; final finishes that are used on printed circuit boards; circuit formation products for surface preparation; oxides, which are used in the fabrication of multilayer circuit boards; semiconductor materials and packaging products; and pre-treatment and cleaning solutions.

Analyst Recommendations for Platform Specialty Products (NYSE:PAH)

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