ValuEngine lowered shares of Platform Specialty Products (NYSE:PAH) from a buy rating to a hold rating in a report released on Friday.
Several other research firms also recently commented on PAH. BidaskClub downgraded Platform Specialty Products from a hold rating to a sell rating in a research note on Saturday, August 12th. Zacks Investment Research raised shares of Platform Specialty Products from a sell rating to a hold rating in a report on Saturday, August 12th. UBS reissued a buy rating and set a $17.00 target price (up previously from $16.00) on shares of Platform Specialty Products in a report on Thursday, August 10th. Barclays lowered their target price on shares of Platform Specialty Products from $15.00 to $14.00 and set an equal weight rating on the stock in a report on Wednesday, October 11th. Finally, SunTrust Banks raised shares of Platform Specialty Products from a hold rating to a buy rating and boosted their target price for the company from $13.00 to $15.00 in a report on Monday, September 18th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and seven have given a buy rating to the stock. Platform Specialty Products presently has a consensus rating of Hold and a consensus price target of $13.50.
Platform Specialty Products (NYSE PAH) traded down $0.05 during trading on Friday, reaching $9.51. The company had a trading volume of 676,393 shares, compared to its average volume of 2,377,772. Platform Specialty Products has a fifty-two week low of $9.11 and a fifty-two week high of $14.82. The company has a current ratio of 2.05, a quick ratio of 1.55 and a debt-to-equity ratio of 1.77. The stock has a market capitalization of $2,756.13, a P/E ratio of 13.15, a price-to-earnings-growth ratio of 1.02 and a beta of 3.19.
Platform Specialty Products (NYSE:PAH) last posted its quarterly earnings data on Thursday, November 2nd. The specialty chemicals company reported $0.17 EPS for the quarter, missing the consensus estimate of $0.18 by ($0.01). Platform Specialty Products had a negative net margin of 4.12% and a positive return on equity of 7.45%. The firm had revenue of $904.30 million during the quarter, compared to analysts’ expectations of $912.19 million. During the same quarter in the previous year, the company posted $0.14 EPS. Platform Specialty Products’s revenue for the quarter was up 1.5% on a year-over-year basis. equities analysts anticipate that Platform Specialty Products will post 0.77 earnings per share for the current year.
Institutional investors have recently added to or reduced their stakes in the company. Oppenheimer Asset Management Inc. bought a new position in shares of Platform Specialty Products in the third quarter worth $111,000. FNY Partners Fund LP increased its holdings in shares of Platform Specialty Products by 177.8% in the second quarter. FNY Partners Fund LP now owns 10,000 shares of the specialty chemicals company’s stock worth $126,000 after purchasing an additional 6,400 shares during the period. Quantbot Technologies LP bought a new position in shares of Platform Specialty Products in the second quarter worth $129,000. Bfsg LLC bought a new position in shares of Platform Specialty Products in the second quarter worth $130,000. Finally, JPMorgan Chase & Co. increased its holdings in shares of Platform Specialty Products by 167.5% in the second quarter. JPMorgan Chase & Co. now owns 15,217 shares of the specialty chemicals company’s stock worth $193,000 after purchasing an additional 9,528 shares during the period. 93.54% of the stock is currently owned by hedge funds and other institutional investors.
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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.
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