Platform Specialty Products Corp (NYSE:PAH) has been assigned a consensus recommendation of “Hold” from the eight analysts that are currently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating on the company. The average 12-month target price among analysts that have covered the stock in the last year is $13.60.
A number of analysts have issued reports on the company. Zacks Investment Research downgraded Platform Specialty Products from a “hold” rating to a “sell” rating in a report on Monday. ValuEngine raised Platform Specialty Products from a “sell” rating to a “hold” rating in a report on Friday, October 26th. Nomura decreased their price target on Platform Specialty Products from $16.00 to $15.00 and set a “buy” rating for the company in a report on Monday, October 15th. Citigroup downgraded Platform Specialty Products from a “buy” rating to a “neutral” rating and lifted their price target for the stock from $13.00 to $14.00 in a report on Wednesday, September 19th. Finally, Goldman Sachs Group downgraded Platform Specialty Products from a “buy” rating to a “neutral” rating in a report on Monday, July 23rd.
In other news, Director Ian G. H. Ashken bought 10,000 shares of Platform Specialty Products stock in a transaction dated Monday, August 13th. The stock was acquired at an average cost of $12.08 per share, with a total value of $120,800.00. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Scot Benson bought 6,000 shares of Platform Specialty Products stock in a transaction dated Thursday, August 23rd. The stock was purchased at an average cost of $12.56 per share, with a total value of $75,360.00. Following the completion of the acquisition, the insider now directly owns 85,456 shares in the company, valued at approximately $1,073,327.36. The disclosure for this purchase can be found here. Insiders have acquired a total of 10,281,137 shares of company stock valued at $124,380,356 over the last ninety days. 5.40% of the stock is owned by company insiders.
Several institutional investors have recently bought and sold shares of the company. Oppenheimer Asset Management Inc. lifted its holdings in shares of Platform Specialty Products by 41.2% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 31,095 shares of the specialty chemicals company’s stock valued at $388,000 after purchasing an additional 9,066 shares during the last quarter. Russell Investments Group Ltd. lifted its holdings in shares of Platform Specialty Products by 1.6% in the 3rd quarter. Russell Investments Group Ltd. now owns 1,182,019 shares of the specialty chemicals company’s stock valued at $14,743,000 after purchasing an additional 18,691 shares during the last quarter. First Trust Advisors LP lifted its holdings in shares of Platform Specialty Products by 57.9% in the 3rd quarter. First Trust Advisors LP now owns 681,172 shares of the specialty chemicals company’s stock valued at $8,494,000 after purchasing an additional 249,656 shares during the last quarter. Strs Ohio purchased a new stake in shares of Platform Specialty Products in the 3rd quarter valued at about $390,000. Finally, Peregrine Capital Management LLC purchased a new stake in shares of Platform Specialty Products in the 3rd quarter valued at about $24,399,000. 95.23% of the stock is owned by institutional investors and hedge funds.
Shares of NYSE PAH opened at $10.51 on Friday. The stock has a market cap of $3.08 billion, a price-to-earnings ratio of 13.83, a price-to-earnings-growth ratio of 1.77 and a beta of 3.18. 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 has a 1 year low of $9.09 and a 1 year high of $13.54.
Platform Specialty Products (NYSE:PAH) last announced its quarterly earnings results on Thursday, August 2nd. The specialty chemicals company reported $0.26 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.24 by $0.02. The company had revenue of $1 billion during the quarter, compared to the consensus estimate of $997.27 million. Platform Specialty Products had a positive return on equity of 9.15% and a negative net margin of 4.08%. Platform Specialty Products’s revenue for the quarter was up 6.5% on a year-over-year basis. During the same period in the previous year, the business earned $0.20 EPS. On average, equities research analysts expect that Platform Specialty Products will post 0.5 EPS for the current fiscal year.
About Platform Specialty Products
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.
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