Platform Specialty Products Corporation (PAH) PT Lowered to $14.00 at Barclays PLC
Platform Specialty Products Corporation (NYSE:PAH) had its price target lowered by equities researchers at Barclays PLC from $15.00 to $14.00 in a research report issued to clients and investors on Wednesday. The firm presently has an “equal weight” rating on the specialty chemicals company’s stock. Barclays PLC’s price target suggests a potential upside of 21.21% from the stock’s current price.
Several other research analysts have also commented on PAH. Instinet reduced their price target on Platform Specialty Products Corporation to $14.00 and set a “buy” rating on the stock in a report on Tuesday, June 13th. ValuEngine upgraded Platform Specialty Products Corporation from a “hold” rating to a “buy” rating in a report on Tuesday, June 13th. Zacks Investment Research lowered Platform Specialty Products Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, July 11th. UBS AG reiterated a “buy” rating and set a $17.00 price target (up previously from $16.00) on shares of Platform Specialty Products Corporation in a report on Thursday, August 10th. Finally, BidaskClub lowered Platform Specialty Products Corporation from a “hold” rating to a “sell” rating in a report on Saturday, August 12th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and eight have assigned a buy rating to the company. Platform Specialty Products Corporation has a consensus rating of “Hold” and a consensus price target of $13.50.
Platform Specialty Products Corporation (PAH) traded down 0.736% on Wednesday, reaching $11.465. 1,389,987 shares of the company’s stock were exchanged. The firm has a market cap of $3.29 billion, a PE ratio of 71.656 and a beta of 3.31. Platform Specialty Products Corporation has a one year low of $6.85 and a one year high of $14.82. The firm has a 50 day moving average price of $11.47 and a 200 day moving average price of $12.67.
Platform Specialty Products Corporation (NYSE:PAH) last posted its quarterly earnings results on Wednesday, August 9th. The specialty chemicals company reported $0.20 EPS for the quarter, topping the 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 for the quarter, compared to analyst estimates of $933.32 million. During the same quarter in the previous year, the firm earned $0.16 EPS. The company’s quarterly revenue 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 year.
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In related news, EVP John Edward Capps acquired 2,500 shares of Platform Specialty Products Corporation stock in a transaction that occurred on Friday, August 25th. The shares were purchased at an average cost of $10.77 per share, for a total transaction of $26,925.00. Following the acquisition, the executive vice president now owns 2,500 shares in the company, valued at $26,925. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Rakesh Sachdev acquired 11,000 shares of Platform Specialty Products Corporation stock in a transaction that occurred on Friday, August 25th. The stock was bought at an average price of $11.06 per share, for a total transaction of $121,660.00. Following the completion of the acquisition, the chief executive officer now owns 11,000 shares in the company, valued at approximately $121,660. The disclosure for this purchase can be found here. Over the last 90 days, insiders purchased 60,500 shares of company stock worth $664,865. 6.00% of the stock is owned by insiders.
Institutional investors and hedge funds have recently modified their holdings of the stock. FNY Partners Fund LP raised its holdings in 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 buying an additional 6,400 shares during the period. Quantbot Technologies LP purchased a new stake in Platform Specialty Products Corporation in the 2nd quarter valued at about $129,000. Bfsg LLC purchased a new stake in Platform Specialty Products Corporation in the 2nd quarter valued at about $130,000. First National Bank of Omaha purchased a new stake in Platform Specialty Products Corporation in the 2nd quarter valued at about $134,000. Finally, Two Sigma Securities LLC purchased a new stake in Platform Specialty Products Corporation in the 1st quarter valued at about $143,000. Hedge funds and other institutional investors own 93.88% of the company’s stock.
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.
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