Platform Specialty Products Corporation (PAH) Stock Rating Reaffirmed by SunTrust Banks, Inc.
Platform Specialty Products Corporation (NYSE:PAH)‘s stock had its “buy” rating reiterated by equities research analysts at SunTrust Banks, Inc. in a report released on Friday. They presently have a $15.00 target price on the specialty chemicals company’s stock. SunTrust Banks, Inc.’s price target would suggest a potential upside of 44.23% from the company’s previous close. SunTrust Banks also issued estimates for Platform Specialty Products Corporation’s FY2018 earnings at $0.95 EPS and FY2019 earnings at $1.12 EPS.
A number of other brokerages also recently issued reports on PAH. Barclays PLC reduced their price target on Platform Specialty Products Corporation from $15.00 to $14.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 11th. Zacks Investment Research raised Platform Specialty Products Corporation from a “sell” rating to a “hold” rating in a report on Saturday, August 12th. UBS Group AG (USA) reaffirmed a “buy” rating and issued a $17.00 target price (up previously from $16.00) on shares of Platform Specialty Products Corporation in a report on Thursday, August 10th. Finally, BidaskClub downgraded Platform Specialty Products Corporation from a “hold” rating to a “sell” rating in a report on Saturday, August 12th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and eight have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $13.50.
Platform Specialty Products Corporation (NYSE PAH) opened at $10.40 on Friday. The company has a market capitalization of $3.00 billion, a price-to-earnings ratio of 14.31, a P/E/G ratio of 1.14 and a beta of 3.27. The company has a debt-to-equity ratio of 1.79, a current ratio of 1.94 and a quick ratio of 1.50.
Platform Specialty Products Corporation (NYSE:PAH) last issued its quarterly earnings results on Thursday, November 2nd. The specialty chemicals company reported $0.17 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.18 by ($0.01). The company had revenue of $904.30 million for the quarter, compared to analyst estimates of $912.19 million. Platform Specialty Products Corporation had a positive return on equity of 7.48% and a negative net margin of 4.12%. The company’s quarterly revenue was up 1.5% compared to the same quarter last year. During the same period in the prior year, the company earned $0.14 EPS. equities analysts expect that Platform Specialty Products Corporation will post 0.78 earnings per share for the current fiscal year.
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In related news, EVP John Edward Capps bought 2,500 shares of the stock in a transaction that occurred on Friday, August 25th. The stock was acquired at an average cost of $10.77 per share, with a total value of $26,925.00. Following the transaction, the executive vice president now directly owns 2,500 shares in the company, valued at $26,925. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Ian G. H. Ashken bought 45,000 shares of the stock in a transaction that occurred on Tuesday, August 29th. The shares were bought at an average cost of $10.98 per share, with a total value of $494,100.00. The disclosure for this purchase can be found here. In the last three months, insiders have purchased 60,500 shares of company stock worth $664,865. 6.00% of the stock is currently owned by company insiders.
A number of large investors have recently made changes to their positions in the stock. Stifel Financial Corp bought a new position in shares of Platform Specialty Products Corporation in the 2nd quarter worth about $103,000. Fox Run Management L.L.C. bought a new position in shares of Platform Specialty Products Corporation in the 3rd quarter worth about $109,000. FNY Partners Fund LP bought a new position in shares of Platform Specialty Products Corporation in the 4th quarter worth about $116,000. Menta Capital LLC bought a new position in shares of Platform Specialty Products Corporation in the 1st quarter worth about $117,000. Finally, Legal & General Group Plc raised its position in shares of Platform Specialty Products Corporation by 59.1% in the 1st quarter. Legal & General Group Plc now owns 14,761 shares of the specialty chemicals company’s stock worth $127,000 after acquiring an additional 5,481 shares in the last quarter. 94.07% of the stock is owned by institutional investors and hedge funds.
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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