Platform Specialty Products Corp (NYSE:PAH) – Stock analysts at SunTrust Banks decreased their FY2017 EPS estimates for shares of Platform Specialty Products in a research report issued to clients and investors on Wednesday. SunTrust Banks analyst J. Sheehan now expects that the specialty chemicals company will post earnings of $0.78 per share for the year, down from their previous forecast of $0.79. SunTrust Banks has a “Buy” rating and a $15.00 price objective on the stock. SunTrust Banks also issued estimates for Platform Specialty Products’ Q4 2017 earnings at $0.24 EPS and FY2019 earnings at $1.09 EPS.
PAH has been the subject of several other research reports. Credit Suisse Group initiated coverage on shares of Platform Specialty Products in a research report on Wednesday, November 15th. They set a “neutral” rating and a $12.00 price objective for the company. Barclays reduced their price objective on shares of Platform Specialty Products from $15.00 to $14.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 11th. Zacks Investment Research upgraded shares of Platform Specialty Products from a “sell” rating to a “hold” rating in a research report on Thursday, January 4th. Finally, ValuEngine downgraded shares of Platform Specialty Products from a “buy” rating to a “hold” rating in a research report on Friday, December 1st. One research analyst has rated the stock with a sell rating, five have issued a hold rating and seven have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $13.50.
Shares of Platform Specialty Products (NYSE PAH) opened at $11.66 on Friday. The firm has a market cap of $3,300.00, a P/E ratio of -24.29, a PEG ratio of 0.92 and a beta of 3.07. The company has a current ratio of 2.05, a quick ratio of 1.55 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.
Platform Specialty Products (NYSE:PAH) last issued its quarterly earnings results on Thursday, November 2nd. The specialty chemicals company reported $0.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.01). The firm had revenue of $904.30 million during the quarter, compared to analysts’ expectations of $912.19 million. Platform Specialty Products had a positive return on equity of 7.45% and a negative net margin of 4.12%. The firm’s revenue was up 1.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.14 EPS.
Institutional investors have recently made changes to their positions in the company. Oppenheimer Asset Management Inc. acquired a new position in shares of Platform Specialty Products in the 3rd quarter valued at $111,000. Quantbot Technologies LP acquired a new position in shares of Platform Specialty Products in the 2nd quarter valued at $129,000. JPMorgan Chase & Co. increased its holdings in shares of Platform Specialty Products by 167.5% in the 2nd 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 period. Petrus Trust Company LTA acquired a new position in shares of Platform Specialty Products in the 2nd quarter valued at $222,000. Finally, Virtu KCG Holdings LLC increased its holdings in shares of Platform Specialty Products by 81.4% in the 2nd quarter. Virtu KCG Holdings LLC now owns 32,341 shares of the specialty chemicals company’s stock valued at $410,000 after acquiring an additional 14,509 shares during the period. 93.53% of the stock is currently owned by institutional investors and hedge funds.
In other Platform Specialty Products news, insider Diego Lopez Casanello bought 4,000 shares of the business’s stock in a transaction dated Tuesday, December 19th. The shares were acquired at an average cost of $9.91 per share, with a total value of $39,640.00. Following the acquisition, the insider now directly owns 15,000 shares of the company’s stock, valued at approximately $148,650. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Martin E. Franklin bought 164,467 shares of the business’s stock in a transaction dated Thursday, December 14th. The stock was acquired 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. Insiders have bought a total of 669,467 shares of company stock valued at $6,453,139 in the last 90 days. Insiders own 5.20% 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.
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