Shares of Platform Specialty Products Corp (NYSE:PAH) have been assigned an average rating of “Hold” from the nine brokerages that are currently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, four have given a hold recommendation and four have issued a buy recommendation on the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $14.67.
A number of research analysts have weighed in on the stock. Zacks Investment Research raised 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 cut shares of Platform Specialty Products from a “buy” rating to a “hold” rating in a research report on Friday, December 1st.
Shares of Platform Specialty Products (NYSE PAH) traded down $0.33 during mid-day trading on Friday, reaching $10.04. 1,094,790 shares of the company’s stock were exchanged, compared to its average volume of 3,609,461. The firm has a market capitalization of $3,027.18, a PE ratio of -9.75, a price-to-earnings-growth ratio of 0.76 and a beta of 3.18. The company has a current ratio of 2.14, a quick ratio of 1.69 and a debt-to-equity ratio of 1.90. Platform Specialty Products has a 1 year low of $9.11 and a 1 year high of $14.82.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. BlackRock Inc. lifted its position in shares of Platform Specialty Products by 51.1% during the fourth quarter. BlackRock Inc. now owns 13,795,821 shares of the specialty chemicals company’s stock worth $136,855,000 after purchasing an additional 4,662,926 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Platform Specialty Products by 19.1% during the third quarter. Dimensional Fund Advisors LP now owns 6,558,502 shares of the specialty chemicals company’s stock worth $73,127,000 after purchasing an additional 1,052,378 shares in the last quarter. Gates Capital Management Inc. acquired a new position in shares of Platform Specialty Products during the fourth quarter worth $55,242,000. Goldman Sachs Group Inc. lifted its position in shares of Platform Specialty Products by 40.1% during the fourth quarter. Goldman Sachs Group Inc. now owns 4,202,991 shares of the specialty chemicals company’s stock worth $41,693,000 after purchasing an additional 1,203,886 shares in the last quarter. Finally, Janus Henderson Group PLC lifted its position in shares of Platform Specialty Products by 38.1% during the third quarter. Janus Henderson Group PLC now owns 3,401,444 shares of the specialty chemicals company’s stock worth $37,926,000 after purchasing an additional 939,263 shares in the last quarter. 92.24% of the stock is currently owned by institutional investors and hedge funds.
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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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