SunTrust Banks, Inc. upgraded shares of Platform Specialty Products Corporation (NYSE:PAH) from a hold rating to a buy rating in a report issued on Monday morning, MarketBeat.com reports. The brokerage currently has $15.00 price target on the specialty chemicals company’s stock, up from their prior price target of $13.00. SunTrust Banks also issued estimates for Platform Specialty Products Corporation’s Q3 2017 earnings at $0.17 EPS, Q4 2017 earnings at $0.26 EPS and FY2017 earnings at $0.79 EPS.

Other equities research analysts have also recently issued research reports about the stock. ValuEngine upgraded shares of Platform Specialty Products Corporation from a hold rating to a buy rating in a research report on Tuesday, June 13th. Instinet lowered their price objective on shares of Platform Specialty Products Corporation to $14.00 and set a buy rating for the company in a research report on Tuesday, June 13th. UBS AG restated a buy rating and issued a $17.00 price objective (up previously from $16.00) on shares of Platform Specialty Products Corporation in a research report on Thursday, August 10th. Zacks Investment Research cut shares of Platform Specialty Products Corporation from a buy rating to a hold rating in a research report on Tuesday, July 11th. Finally, BidaskClub cut shares of Platform Specialty Products Corporation from a hold rating to a sell rating in a research report on Saturday, August 12th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and eight have assigned a buy rating to the company. Platform Specialty Products Corporation presently has an average rating of Buy and a consensus target price of $13.27.

Shares of Platform Specialty Products Corporation (NYSE:PAH) opened at 11.50 on Monday. 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 $12.27 and a 200-day moving average of $12.84. The firm’s market capitalization is $3.30 billion.

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

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In other Platform Specialty Products Corporation news, EVP John Edward Capps bought 2,500 shares of Platform Specialty Products Corporation stock in a transaction dated 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 purchase, the executive vice president now owns 2,500 shares of the company’s stock, valued at $26,925. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Ian G. H. Ashken bought 45,000 shares of Platform Specialty Products Corporation stock in a transaction dated Tuesday, August 29th. The stock was acquired 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 bought a total of 60,500 shares of company stock worth $664,865 in the last ninety days. Insiders own 6.00% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the company. FNY Partners Fund LP boosted its stake in shares of Platform Specialty Products Corporation by 177.8% in the 2nd quarter. FNY Partners Fund LP now owns 10,000 shares of the specialty chemicals company’s stock valued at $126,000 after purchasing an additional 6,400 shares during the last quarter. Quantbot Technologies LP bought a new position in shares of Platform Specialty Products Corporation in the 2nd quarter valued at about $129,000. Bfsg LLC bought a new position in shares of Platform Specialty Products Corporation in the 2nd quarter valued at about $130,000. First National Bank of Omaha bought a new position in shares of Platform Specialty Products Corporation in the 2nd quarter valued at about $134,000. Finally, Two Sigma Securities LLC bought a new position in shares of Platform Specialty Products Corporation in the 1st quarter valued at about $143,000. 93.71% of the stock is currently owned by institutional investors.

About Platform Specialty Products Corporation

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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