Platform Specialty Products (PAH) Cut to “Hold” at ValuEngine

Platform Specialty Products (NYSE:PAH) was downgraded by equities research analysts at ValuEngine from a “buy” rating to a “hold” rating in a note issued to investors on Friday, December 1st.

A number of other analysts have also recently commented on the stock. SunTrust Banks raised shares of Platform Specialty Products from a “hold” rating to a “buy” rating and upped their target price for the company from $13.00 to $15.00 in a report on Monday, September 18th. Credit Suisse Group started coverage on shares of Platform Specialty Products in a research note on Wednesday, November 15th. They issued a “neutral” rating and a $12.00 price objective for the company. Zacks Investment Research cut shares of Platform Specialty Products from a “hold” rating to a “sell” rating in a research note on Wednesday, October 11th. 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 note on Wednesday, October 11th. Finally, UBS reissued a “buy” rating and issued a $17.00 price objective (up from $16.00) on shares of Platform Specialty Products in a research note on Thursday, August 10th. Two analysts have rated the stock with a sell rating, four have given a hold rating and seven have given a buy rating to the stock. Platform Specialty Products has a consensus rating of “Hold” and a consensus price target of $13.50.

Shares of Platform Specialty Products (PAH) traded up $0.04 during trading on Friday, reaching $9.51. 2,472,100 shares of the company were exchanged, compared to its average volume of 2,385,710. The company has a market capitalization of $2,718.81, a P/E ratio of 12.97, a price-to-earnings-growth ratio of 1.01 and a beta of 3.19. Platform Specialty Products has a 12 month low of $9.11 and a 12 month high of $14.82. 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 (NYSE:PAH) last issued its quarterly earnings data 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). Platform Specialty Products had a negative net margin of 4.12% and a positive return on equity of 7.45%. The company had revenue of $904.30 million for the quarter, compared to the consensus estimate of $912.19 million. During the same quarter last year, the company earned $0.14 EPS. The firm’s revenue for the quarter was up 1.5% on a year-over-year basis. equities research analysts predict that Platform Specialty Products will post 0.77 earnings per share for the current fiscal year.

A number of institutional investors and hedge funds have recently bought and sold shares of PAH. Teachers Advisors LLC grew its stake in Platform Specialty Products by 3.5% during the first quarter. Teachers Advisors LLC now owns 228,181 shares of the specialty chemicals company’s stock valued at $2,971,000 after acquiring an additional 7,687 shares in the last quarter. Renaissance Technologies LLC lifted its position in Platform Specialty Products by 63.5% during the first quarter. Renaissance Technologies LLC now owns 351,900 shares of the specialty chemicals company’s stock valued at $4,582,000 after purchasing an additional 136,700 shares during the last quarter. Aperio Group LLC lifted its position in Platform Specialty Products by 14.7% during the second quarter. Aperio Group LLC now owns 34,964 shares of the specialty chemicals company’s stock valued at $443,000 after purchasing an additional 4,482 shares during the last quarter. Acadian Asset Management LLC lifted its position in Platform Specialty Products by 4,190.1% during the second quarter. Acadian Asset Management LLC now owns 19,434 shares of the specialty chemicals company’s stock valued at $246,000 after purchasing an additional 18,981 shares during the last quarter. Finally, Public Employees Retirement Association of Colorado lifted its position in Platform Specialty Products by 1.8% during the second quarter. Public Employees Retirement Association of Colorado now owns 43,242 shares of the specialty chemicals company’s stock valued at $548,000 after purchasing an additional 779 shares during the last quarter. 93.54% of the stock is owned by institutional investors.

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Platform Specialty Products 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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Platform Specialty Products (NYSE:PAH)

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