Brokerages Set Platform Specialty Products Corporation (PAH) Target Price at $13.50
Platform Specialty Products Corporation (NYSE:PAH) has been assigned an average rating of “Hold” from the fourteen research firms that are currently covering the company, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and seven have given a buy rating to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $13.50.
PAH has been the topic of a number of recent research reports. SunTrust Banks upgraded 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 initiated coverage on shares of Platform Specialty Products in a report on Wednesday, November 15th. They set a “neutral” rating and a $12.00 price objective on the stock. Zacks Investment Research lowered shares of Platform Specialty Products from a “hold” rating to a “sell” rating in a report on Wednesday, October 11th. Barclays cut their price objective on shares of Platform Specialty Products from $15.00 to $14.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 11th. Finally, ValuEngine lowered shares of Platform Specialty Products from a “buy” rating to a “hold” rating in a report on Friday, December 1st.
Large investors have recently modified their holdings of the business. Oppenheimer Asset Management Inc. acquired a new stake in Platform Specialty Products in the third quarter valued at approximately $111,000. FNY Partners Fund LP grew its position in shares of Platform Specialty Products by 177.8% during the second quarter. FNY Partners Fund LP now owns 10,000 shares of the specialty chemicals company’s stock worth $126,000 after buying an additional 6,400 shares in the last quarter. Quantbot Technologies LP acquired a new stake in shares of Platform Specialty Products during the second quarter worth approximately $129,000. Bfsg LLC acquired a new stake in shares of Platform Specialty Products during the second quarter worth approximately $130,000. Finally, JPMorgan Chase & Co. grew its position in shares of Platform Specialty Products by 167.5% during the second quarter. JPMorgan Chase & Co. now owns 15,217 shares of the specialty chemicals company’s stock worth $193,000 after buying an additional 9,528 shares in the last quarter. 93.54% of the stock is owned by institutional investors.
Platform Specialty Products (NYSE:PAH) last released its quarterly earnings data on Thursday, November 2nd. The specialty chemicals company reported $0.17 EPS for the quarter, missing the consensus estimate of $0.18 by ($0.01). The business had revenue of $904.30 million during the quarter, compared to analysts’ expectations of $912.19 million. Platform Specialty Products had a positive return on equity of 7.45% and a negative net margin of 4.12%. Platform Specialty Products’s quarterly revenue was up 1.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.14 earnings per share. research analysts forecast that Platform Specialty Products will post 0.77 earnings per share for the current fiscal year.
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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