Shares of Platform Specialty Products Corp (NYSE:PAH) have earned a consensus recommendation of “Hold” from the nine ratings firms that are currently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $14.67.
Several research analysts have issued reports on PAH shares. Zacks Investment Research upgraded shares of Platform Specialty Products from a “hold” rating to a “buy” rating and set a $13.00 price target on the stock in a research report on Wednesday, March 7th. ValuEngine lowered shares of Platform Specialty Products from a “buy” rating to a “hold” rating in a research report on Friday, December 1st.
In other news, insider Diego Lopez Casanello acquired 4,000 shares of the stock in a transaction on Tuesday, December 19th. The shares were purchased at an average cost of $9.91 per share, for a total transaction of $39,640.00. Following the transaction, the insider now owns 15,000 shares in the company, valued at approximately $148,650. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Martin E. Franklin acquired 500,000 shares of the stock in a transaction on Monday, December 18th. The shares were purchased at an average price of $9.66 per share, for a total transaction of $4,830,000.00. The disclosure for this purchase can be found here. Insiders own 5.20% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of PAH. American Century Companies Inc. grew its position in Platform Specialty Products by 28.5% during the 3rd quarter. American Century Companies Inc. now owns 226,146 shares of the specialty chemicals company’s stock worth $2,522,000 after purchasing an additional 50,210 shares in the last quarter. Swiss National Bank grew its position in Platform Specialty Products by 3.2% during the 3rd quarter. Swiss National Bank now owns 382,889 shares of the specialty chemicals company’s stock worth $4,269,000 after purchasing an additional 11,700 shares in the last quarter. Russell Investments Group Ltd. grew its position in Platform Specialty Products by 30.5% during the 3rd quarter. Russell Investments Group Ltd. now owns 2,594,646 shares of the specialty chemicals company’s stock worth $28,927,000 after purchasing an additional 605,664 shares in the last quarter. Quantbot Technologies LP grew its position in Platform Specialty Products by 960.4% during the 3rd quarter. Quantbot Technologies LP now owns 108,462 shares of the specialty chemicals company’s stock worth $1,209,000 after purchasing an additional 98,234 shares in the last quarter. Finally, Macquarie Group Ltd. grew its position in Platform Specialty Products by 35.4% during the 3rd quarter. Macquarie Group Ltd. now owns 266,749 shares of the specialty chemicals company’s stock worth $2,974,000 after purchasing an additional 69,749 shares in the last quarter. Hedge funds and other institutional investors own 92.24% of the company’s stock.
Platform Specialty Products (NYSE PAH) traded up $0.13 during midday trading on Friday, hitting $10.67. 2,373,770 shares of the company were exchanged, compared to its average volume of 2,681,537. 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 quick ratio of 1.69, a current ratio of 2.14 and a debt-to-equity ratio of 1.90. The firm has a market capitalization of $3,035.82, a price-to-earnings ratio of -10.36, a PEG ratio of 0.76 and a beta of 3.18.
Platform Specialty Products (NYSE:PAH) last posted its quarterly earnings results on Tuesday, February 27th. The specialty chemicals company reported $0.23 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.23. The firm had revenue of $1.07 billion for the quarter, compared to analyst estimates of $978.56 million. Platform Specialty Products had a negative net margin of 7.84% and a positive return on equity of 7.69%. The firm’s quarterly revenue was up 12.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.20 earnings per share. analysts forecast that Platform Specialty Products will post 0.99 EPS for the current year.
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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