Platform Specialty Products (NYSE:PAH) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Wednesday. The firm currently has a $12.00 target price on the specialty chemicals company’s stock. Zacks Investment Research‘s price target indicates a potential upside of 22.70% from the stock’s current price.
According to Zacks, “Platform Specialty Products Corporation is a producer of high technology specialty chemical products as well as technical services. The company serves electronics, metal and plastic plating, graphic arts, and offshore oil production and drilling industries. Platform Specialty Products Corporation is headquartered in Miami, United States. “
Separately, ValuEngine lowered Platform Specialty Products from a “buy” rating to a “hold” rating in a report on Friday, December 1st. One investment analyst has rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $14.29.
Shares of PAH stock opened at $9.78 on Wednesday. Platform Specialty Products has a twelve month low of $9.11 and a twelve month high of $14.82. The stock has a market capitalization of $3,027.18, a PE ratio of -9.50, a P/E/G 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 (NYSE:PAH) last released its earnings results on Tuesday, February 27th. The specialty chemicals company reported $0.23 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.23. Platform Specialty Products had a positive return on equity of 7.69% and a negative net margin of 7.84%. The business had revenue of $1.07 billion for the quarter, compared to analyst estimates of $978.56 million. During the same quarter in the prior year, the company posted $0.20 earnings per share. Platform Specialty Products’s revenue was up 12.5% on a year-over-year basis. analysts expect that Platform Specialty Products will post 0.99 EPS for the current fiscal year.
Large investors have recently added to or reduced their stakes in the business. AMP Capital Investors Ltd bought a new stake in Platform Specialty Products in the third quarter valued at approximately $444,000. First Manhattan Co. raised its stake in Platform Specialty Products by 19,786.1% in the fourth quarter. First Manhattan Co. now owns 1,988,610 shares of the specialty chemicals company’s stock valued at $19,727,000 after buying an additional 1,978,610 shares during the period. Swiss National Bank raised its stake in Platform Specialty Products by 2.0% in the fourth quarter. Swiss National Bank now owns 390,689 shares of the specialty chemicals company’s stock valued at $3,876,000 after buying an additional 7,800 shares during the period. JPMorgan Chase & Co. raised its stake in Platform Specialty Products by 4,422.6% in the third quarter. JPMorgan Chase & Co. now owns 688,198 shares of the specialty chemicals company’s stock valued at $7,653,000 after buying an additional 672,981 shares during the period. Finally, Magnetar Financial LLC raised its stake in Platform Specialty Products by 226.8% in the third quarter. Magnetar Financial LLC now owns 99,329 shares of the specialty chemicals company’s stock valued at $1,108,000 after buying an additional 68,930 shares during the period. Hedge funds and other institutional investors own 92.24% of the company’s stock.
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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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