Platform Specialty Products Corporation (PAH) Lowered to “Sell” at Zacks Investment Research

Platform Specialty Products Corporation (NYSE:PAH) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Wednesday.

According to Zacks, “Platform Specialty Products Corporation is a producer of high technology specialty chemical products as well as technical services. The company serves electronics, metal and plastic plating, graphic arts, and offshore oil production and drilling industries. Platform Specialty Products Corporation is headquartered in Miami, United States. “

PAH has been the subject of a number of other reports. ValuEngine upgraded Platform Specialty Products Corporation from a “hold” rating to a “buy” rating in a research report on Tuesday, June 13th. SunTrust Banks, Inc. upgraded Platform Specialty Products Corporation from a “hold” rating to a “buy” rating and upped their target price for the stock from $13.00 to $15.00 in a research report on Monday, September 18th. BidaskClub downgraded Platform Specialty Products Corporation from a “hold” rating to a “sell” rating in a research report on Saturday, August 12th. Instinet cut their target price on Platform Specialty Products Corporation to $14.00 and set a “buy” rating for the company in a research report on Tuesday, June 13th. Finally, UBS AG restated a “buy” rating and issued a $17.00 target price (up from $16.00) on shares of Platform Specialty Products Corporation in a research report on Thursday, August 10th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and eight have issued a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $13.44.

Shares of Platform Specialty Products Corporation (NYSE:PAH) opened at 11.55 on Wednesday. Platform Specialty Products Corporation has a 12-month low of $6.85 and a 12-month high of $14.82. The firm’s market capitalization is $3.31 billion. The stock has a 50 day moving average price of $11.46 and a 200 day moving average price of $12.67.

Platform Specialty Products Corporation (NYSE:PAH) last issued its quarterly earnings data on Wednesday, August 9th. The specialty chemicals company reported $0.20 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.18 by $0.02. The business had revenue of $941.10 million during the quarter, compared to the consensus estimate of $933.32 million. Platform Specialty Products Corporation had a positive return on equity of 7.15% and a negative net margin of 0.26%. The business’s revenue was up 2.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.16 earnings per share. Analysts predict that Platform Specialty Products Corporation will post $0.80 EPS for the current fiscal year.

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In related news, EVP John Edward Capps purchased 2,500 shares of the company’s stock in a transaction on Friday, August 25th. The shares were bought at an average price of $10.77 per share, with a total value of $26,925.00. Following the completion of the acquisition, the executive vice president now owns 2,500 shares of the company’s stock, valued at $26,925. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Ian G. H. Ashken purchased 45,000 shares of the company’s stock in a transaction on Tuesday, August 29th. The stock was bought at an average cost of $10.98 per share, for a total transaction of $494,100.00. The disclosure for this purchase can be found here. Insiders acquired 60,500 shares of company stock valued at $664,865 over the last 90 days. 6.00% of the stock is currently owned by insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of PAH. BlackRock Inc. increased its holdings in shares of Platform Specialty Products Corporation by 20,109.1% in the first quarter. BlackRock Inc. now owns 10,392,944 shares of the specialty chemicals company’s stock valued at $135,317,000 after buying an additional 10,341,517 shares in the last quarter. FMR LLC increased its holdings in shares of Platform Specialty Products Corporation by 93.2% in the first quarter. FMR LLC now owns 19,571,817 shares of the specialty chemicals company’s stock valued at $254,825,000 after buying an additional 9,441,984 shares in the last quarter. Janus Henderson Group PLC bought a new position in shares of Platform Specialty Products Corporation in the second quarter valued at $31,220,000. Dimensional Fund Advisors LP increased its holdings in shares of Platform Specialty Products Corporation by 77.4% in the first quarter. Dimensional Fund Advisors LP now owns 4,797,174 shares of the specialty chemicals company’s stock valued at $62,459,000 after buying an additional 2,093,211 shares in the last quarter. Finally, Glenview Capital Management LLC increased its holdings in shares of Platform Specialty Products Corporation 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 buying an additional 2,000,000 shares in the last quarter. 93.88% of the stock is currently owned by institutional investors.

Platform Specialty Products Corporation Company Profile

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.

Analyst Recommendations for Platform Specialty Products Corporation (NYSE:PAH)

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