Shares of Platform Specialty Products Corporation (NYSE:PAH) have earned a consensus recommendation of “Hold” from the fourteen research firms that are currently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have issued a buy rating on the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $13.50.
Several research firms have issued reports on PAH. Zacks Investment Research raised Platform Specialty Products from a “sell” rating to a “hold” rating in a research note on Thursday. SunTrust Banks raised Platform Specialty Products from a “hold” rating to a “buy” rating and lifted their price target for the company from $13.00 to $15.00 in a research note on Monday, September 18th. ValuEngine downgraded Platform Specialty Products from a “buy” rating to a “hold” rating in a research note on Friday, December 1st. Credit Suisse Group began coverage on Platform Specialty Products in a research note on Wednesday, November 15th. They issued a “neutral” rating and a $12.00 price target on the stock. 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 note on Wednesday, October 11th.
Shares of Platform Specialty Products (PAH) traded up $0.03 during trading on Monday, reaching $10.56. The company had a trading volume of 3,902,424 shares, compared to its average volume of 3,940,267. Platform Specialty Products has a twelve month low of $9.11 and a twelve month high of $14.82. The firm has a market cap of $3,020.00, a P/E ratio of -22.00, a PEG ratio of 0.91 and a beta of 3.07. The company has a debt-to-equity ratio of 1.77, a current ratio of 2.05 and a quick ratio of 1.55.
Platform Specialty Products (NYSE:PAH) last released its quarterly earnings results on Thursday, November 2nd. The specialty chemicals company reported $0.17 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ 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 analyst estimates of $912.19 million. During the same period in the prior year, the business earned $0.14 EPS. The business’s revenue for the quarter was up 1.5% compared to the same quarter last year. equities research analysts predict that Platform Specialty Products will post 0.77 EPS for the current fiscal year.
In related news, insider Diego Lopez Casanello bought 4,000 shares of the stock in a transaction that occurred on Tuesday, December 19th. The shares were acquired at an average price of $9.91 per share, with a total value of $39,640.00. Following the completion of the transaction, the insider now owns 15,000 shares in the company, valued at $148,650. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Martin E. Franklin bought 164,467 shares of the stock in a transaction that occurred on Thursday, December 14th. The stock was bought at an average cost of $9.57 per share, for a total transaction of $1,573,949.19. The disclosure for this purchase can be found here. In the last ninety days, insiders purchased 669,467 shares of company stock worth $6,453,139. 5.20% of the stock is owned by company insiders.
Large investors have recently added to or reduced their stakes in the stock. Oppenheimer Asset Management Inc. acquired a new stake in shares of Platform Specialty Products in the third quarter valued at about $111,000. FNY Partners Fund LP increased its position 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 valued at $126,000 after acquiring an additional 6,400 shares during the last quarter. Quantbot Technologies LP acquired a new stake in shares of Platform Specialty Products in the second quarter valued at about $129,000. Bfsg LLC acquired a new stake in shares of Platform Specialty Products in the second quarter valued at about $130,000. Finally, JPMorgan Chase & Co. increased its position 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 valued at $193,000 after acquiring an additional 9,528 shares during the last quarter. 93.53% of the stock is currently owned by institutional investors and hedge funds.
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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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