Analysts Set Platform Specialty Products Corporation (PAH) PT at $12.89
Platform Specialty Products Corporation (NYSE:PAH) has been given an average recommendation of “Buy” by the thirteen ratings firms that are currently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, four have given a hold rating and seven have assigned a buy rating to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $12.89.
A number of research analysts recently issued reports on PAH shares. ValuEngine raised Platform Specialty Products Corporation from a “hold” rating to a “buy” rating in a report on Tuesday, June 13th. Instinet lowered their price objective on Platform Specialty Products Corporation to $14.00 and set a “buy” rating for the company in a research report on Tuesday, June 13th. Zacks Investment Research upgraded Platform Specialty Products Corporation from a “hold” rating to a “buy” rating and set a $15.00 price objective for the company in a research report on Wednesday, May 10th. Nomura reiterated a “buy” rating and issued a $16.00 price objective on shares of Platform Specialty Products Corporation in a research report on Tuesday, May 9th. Finally, UBS AG reiterated a “buy” rating and issued a $17.00 price objective (up from $16.00) on shares of Platform Specialty Products Corporation in a research report on Thursday, August 10th.
Shares of Platform Specialty Products Corporation (PAH) traded up 2.74% during trading on Tuesday, reaching $12.00. 976,322 shares of the company were exchanged. Platform Specialty Products Corporation has a 52-week low of $6.85 and a 52-week high of $14.82. The stock has a 50-day moving average of $12.84 and a 200 day moving average of $12.97. The stock’s market capitalization is $3.44 billion.
Platform Specialty Products Corporation (NYSE:PAH) last released its quarterly earnings results on Wednesday, August 9th. The specialty chemicals company reported $0.20 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.18 by $0.02. Platform Specialty Products Corporation had a positive return on equity of 7.15% and a negative net margin of 0.26%. The business had revenue of $941.10 million during the quarter, compared to analysts’ expectations of $933.32 million. During the same period in the previous year, the business posted $0.16 earnings per share. The firm’s revenue for the quarter was up 2.1% compared to the same quarter last year. On average, equities analysts anticipate that Platform Specialty Products Corporation will post $0.80 earnings per share for the current fiscal year.
In related news, Director Ian G. H. Ashken bought 45,000 shares of the firm’s stock in a transaction dated 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 transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Rakesh Sachdev bought 11,000 shares of the firm’s stock in a transaction dated Friday, August 25th. The shares were bought at an average price of $11.06 per share, with a total value of $121,660.00. Following the completion of the transaction, the chief executive officer now directly owns 11,000 shares in the company, valued at approximately $121,660. The disclosure for this purchase can be found here. Insiders have bought a total of 60,500 shares of company stock valued at $664,865 over the last 90 days. Corporate insiders own 6.00% of the company’s stock.
Several institutional investors have recently bought and sold shares of PAH. UBS Asset Management Americas Inc. raised its position in Platform Specialty Products Corporation by 30.0% in the first quarter. UBS Asset Management Americas Inc. now owns 153,498 shares of the specialty chemicals company’s stock valued at $1,999,000 after buying an additional 35,441 shares during the last quarter. Swiss National Bank raised its position in Platform Specialty Products Corporation by 2.6% in the first quarter. Swiss National Bank now owns 321,189 shares of the specialty chemicals company’s stock valued at $4,182,000 after buying an additional 8,200 shares during the last quarter. Gargoyle Investment Advisor L.L.C. bought a new position in Platform Specialty Products Corporation during the first quarter valued at about $351,000. Bank of New York Mellon Corp raised its position in Platform Specialty Products Corporation by 10.8% in the first quarter. Bank of New York Mellon Corp now owns 666,587 shares of the specialty chemicals company’s stock valued at $8,680,000 after buying an additional 64,707 shares during the last quarter. Finally, First Trust Advisors LP raised its position in Platform Specialty Products Corporation by 590.4% in the first quarter. First Trust Advisors LP now owns 368,964 shares of the specialty chemicals company’s stock valued at $4,804,000 after buying an additional 315,519 shares during the last quarter. Institutional investors own 93.77% of the company’s stock.
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.
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