Shares of Platform Specialty Products Corporation (NYSE:PAH) have received an average recommendation of “Hold” from the fourteen ratings firms that are presently covering the stock, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and seven have issued a buy rating on the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $13.50.
PAH has been the subject of a number of research analyst reports. SunTrust Banks upgraded Platform Specialty Products from a “hold” rating to a “buy” rating and lifted their target price for the stock from $13.00 to $15.00 in a report on Monday, September 18th. Credit Suisse Group initiated coverage on Platform Specialty Products in a report on Wednesday, November 15th. They issued a “neutral” rating and a $12.00 target price for the company. Zacks Investment Research downgraded Platform Specialty Products from a “hold” rating to a “sell” rating in a report on Wednesday, October 11th. Barclays lowered their target price on Platform Specialty Products from $15.00 to $14.00 and set an “equal weight” rating for the company in a report on Wednesday, October 11th. Finally, ValuEngine downgraded Platform Specialty Products from a “buy” rating to a “hold” rating in a report on Friday, December 1st.
A number of institutional investors have recently made changes to their positions in the business. FMR LLC grew its stake in Platform Specialty Products by 12.7% in the second quarter. FMR LLC now owns 22,055,440 shares of the specialty chemicals company’s stock valued at $279,663,000 after acquiring an additional 2,483,623 shares during the period. Vanguard Group Inc. grew its stake in Platform Specialty Products by 4.6% in the second quarter. Vanguard Group Inc. now owns 16,082,464 shares of the specialty chemicals company’s stock valued at $203,926,000 after acquiring an additional 711,500 shares during the period. Glenview Capital Management LLC grew its stake in Platform Specialty Products by 17.9% in the second quarter. Glenview Capital Management LLC now owns 13,203,633 shares of the specialty chemicals company’s stock valued at $167,422,000 after acquiring an additional 2,000,000 shares during the period. Capital World Investors grew its stake in Platform Specialty Products by 13.1% in the second quarter. Capital World Investors now owns 12,080,829 shares of the specialty chemicals company’s stock valued at $153,185,000 after acquiring an additional 1,398,319 shares during the period. Finally, Dimensional Fund Advisors LP grew its stake in Platform Specialty Products by 19.1% in the third quarter. Dimensional Fund Advisors LP now owns 6,558,502 shares of the specialty chemicals company’s stock valued at $73,127,000 after acquiring an additional 1,052,378 shares during the period. 93.54% of the stock is owned by hedge funds and other institutional investors.
Platform Specialty Products (NYSE:PAH) last issued its earnings results on Thursday, November 2nd. The specialty chemicals company reported $0.17 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.18 by ($0.01). The business had revenue of $904.30 million during the quarter, compared to the consensus estimate 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 company’s revenue for the quarter was up 1.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.14 earnings per share. research analysts predict that Platform Specialty Products will post 0.77 EPS for the current year.
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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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