The Zacks Investment Research Downgrades Platform Specialty Products Corporation (PAH) to Sell

The Zacks Investment Research Downgrades Platform Specialty Products Corporation (PAH) to Sell

Zacks Investment Research lowered shares of Platform Specialty Products Corporation (NYSE:PAH) from a hold rating to a sell rating in a research note published on Wednesday.

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. “

A number of other research firms also recently commented on PAH. 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 report on Thursday, August 10th. Instinet dropped their price objective on Platform Specialty Products Corporation to $14.00 and set a buy rating on the stock in a report on Tuesday, June 13th. BidaskClub downgraded Platform Specialty Products Corporation from a hold rating to a sell rating in a report on Saturday, August 12th. SunTrust Banks, Inc. upgraded Platform Specialty Products Corporation from a hold rating to a buy rating and increased their price objective for the stock from $13.00 to $15.00 in a report on Monday, September 18th. Finally, ValuEngine upgraded Platform Specialty Products Corporation from a hold rating to a buy rating in a report on Tuesday, June 13th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and eight have issued a buy rating to the stock. The company presently has a consensus rating of Hold and an average target price of $13.50.

Shares of Platform Specialty Products Corporation (PAH) opened at 11.58 on Wednesday. The firm’s 50-day moving average is $11.46 and its 200 day moving average is $12.65. Platform Specialty Products Corporation has a 1-year low of $7.12 and a 1-year high of $14.82. The stock’s market capitalization is $3.32 billion.

Platform Specialty Products Corporation (NYSE:PAH) last released its quarterly earnings data on Wednesday, August 9th. The specialty chemicals company reported $0.20 EPS for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $941.10 million for the quarter, compared to the consensus estimate of $933.32 million. During the same quarter in the prior year, the company posted $0.16 earnings per share. The firm’s revenue was up 2.1% on a year-over-year basis. On average, analysts expect that Platform Specialty Products Corporation will post $0.80 EPS for the current fiscal year.

In related news, Director Ian G. H. Ashken purchased 45,000 shares of the stock in a transaction on Tuesday, August 29th. The shares were bought at an average price of $10.98 per share, for a total transaction of $494,100.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP John Edward Capps purchased 2,500 shares of the stock in a transaction on Friday, August 25th. The shares were bought at an average price 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 of the company’s stock, valued at $26,925. The disclosure for this purchase can be found here. In the last quarter, insiders have acquired 60,500 shares of company stock worth $664,865. Corporate insiders own 6.00% of the company’s stock.

A number of hedge funds have recently made changes to their positions in the business. Public Employees Retirement Association of Colorado grew its holdings in Platform Specialty Products Corporation by 1.8% during the second quarter. Public Employees Retirement Association of Colorado now owns 43,242 shares of the specialty chemicals company’s stock valued at $548,000 after purchasing an additional 779 shares during the last quarter. Amalgamated Bank grew its holdings in Platform Specialty Products Corporation by 2.9% during the first quarter. Amalgamated Bank now owns 27,979 shares of the specialty chemicals company’s stock valued at $364,000 after purchasing an additional 787 shares during the last quarter. Public Employees Retirement System of Ohio grew its holdings in Platform Specialty Products Corporation by 1.4% during the first quarter. Public Employees Retirement System of Ohio now owns 83,932 shares of the specialty chemicals company’s stock valued at $1,093,000 after purchasing an additional 1,197 shares during the last quarter. Global Endowment Management LP grew its holdings in Platform Specialty Products Corporation by 7.6% during the second quarter. Global Endowment Management LP now owns 41,300 shares of the specialty chemicals company’s stock valued at $524,000 after purchasing an additional 2,900 shares during the last quarter. Finally, Teacher Retirement System of Texas grew its holdings in Platform Specialty Products Corporation by 19.8% during the second quarter. Teacher Retirement System of Texas now owns 18,016 shares of the specialty chemicals company’s stock valued at $228,000 after purchasing an additional 2,975 shares during the last quarter. Institutional investors own 93.88% of the company’s stock.

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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