Platform Specialty Products (NYSE:PAH) has been given a $12.00 price objective by investment analysts at Citigroup in a report released on Monday. The firm currently has a “hold” rating on the specialty chemicals company’s stock. Citigroup’s price objective points to a potential upside of 10.19% from the company’s previous close.
A number of other brokerages have also issued reports on PAH. Nomura cut their price target on shares of Platform Specialty Products from $16.00 to $15.00 and set a “buy” rating on the stock in a report on Monday, October 15th. Zacks Investment Research raised shares of Platform Specialty Products from a “sell” rating to a “hold” rating in a research report on Friday, September 7th. ValuEngine cut shares of Platform Specialty Products from a “sell” rating to a “strong sell” rating in a research report on Friday, July 20th. Finally, Goldman Sachs Group cut shares of Platform Specialty Products from a “buy” rating to a “neutral” rating in a research report on Monday, July 23rd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the company’s stock. Platform Specialty Products currently has an average rating of “Hold” and a consensus price target of $12.80.
Platform Specialty Products stock traded down $0.04 during trading hours on Monday, reaching $10.89. The stock had a trading volume of 110,158 shares, compared to its average volume of 2,897,611. The firm has a market cap of $3.15 billion, a PE ratio of 14.34, a price-to-earnings-growth ratio of 1.81 and a beta of 3.00. Platform Specialty Products has a 52 week low of $9.09 and a 52 week high of $13.54. The company has a quick ratio of 1.62, a current ratio of 2.11 and a debt-to-equity ratio of 2.07.
Platform Specialty Products (NYSE:PAH) last announced its quarterly earnings results on Thursday, November 1st. The specialty chemicals company reported $0.04 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.04. The business had revenue of $488.50 million for the quarter, compared to analyst estimates of $500.69 million. Platform Specialty Products had a negative net margin of 14.14% and a positive return on equity of 7.95%. The company’s revenue was up 1.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.02 EPS. As a group, sell-side analysts expect that Platform Specialty Products will post 0.5 earnings per share for the current fiscal year.
In other Platform Specialty Products news, Director Martin E. Franklin purchased 260,000 shares of the stock in a transaction that occurred on Wednesday, August 15th. The stock was bought at an average cost of $12.01 per share, with a total value of $3,122,600.00. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Scot Benson purchased 6,000 shares of the stock in a transaction that occurred on Thursday, August 23rd. The shares were acquired at an average cost of $12.56 per share, with a total value of $75,360.00. Following the completion of the transaction, the insider now owns 85,456 shares in the company, valued at $1,073,327.36. The disclosure for this purchase can be found here. Over the last ninety days, insiders bought 296,833 shares of company stock valued at $3,569,798. Corporate insiders own 5.40% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the stock. NEXT Financial Group Inc purchased a new position in Platform Specialty Products during the 3rd quarter valued at about $115,000. InterOcean Capital LLC purchased a new position in Platform Specialty Products during the 2nd quarter valued at about $121,000. LPL Financial LLC purchased a new position in Platform Specialty Products during the 1st quarter valued at about $108,000. First National Bank of Omaha purchased a new position in Platform Specialty Products during the 2nd quarter valued at about $139,000. Finally, Raymond James Trust N.A. purchased a new position in Platform Specialty Products during the 3rd quarter valued at about $176,000. 95.33% of the stock is owned by institutional investors.
Platform Specialty Products Company Profile
Platform Specialty Products Corporation produces and sells specialty chemical products worldwide. It operates through two segments, Performance Solutions and Agricultural Solutions. The Performance Solutions segment offers a range of specialty chemicals, such as surface and coating materials, functional conversion coatings, electronic assembly materials, water-based hydraulic control fluids, and photopolymers.
Read More: Short Selling Stocks and Day Traders
Receive News & Ratings for Platform Specialty Products Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Platform Specialty Products and related companies with MarketBeat.com's FREE daily email newsletter.