Shares of Platform Specialty Products Corporation (NYSE:PAH) have earned a consensus recommendation of “Hold” from the fourteen research firms that are currently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have issued a buy rating on the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $13.50.
Several research firms have issued reports on PAH. Zacks Investment Research raised Platform Specialty Products from a “sell” rating to a “hold” rating in a research note on Thursday. SunTrust Banks raised Platform Specialty Products from a “hold” rating to a “buy” rating and lifted their price target for the company from $13.00 to $15.00 in a research note on Monday, September 18th. ValuEngine downgraded Platform Specialty Products from a “buy” rating to a “hold” rating in a research note on Friday, December 1st. Credit Suisse Group began coverage on Platform Specialty Products in a research note on Wednesday, November 15th. They issued a “neutral” rating and a $12.00 price target on the stock. Finally, Barclays dropped their price target on Platform Specialty Products from $15.00 to $14.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 11th.
Shares of Platform Specialty Products (PAH) traded up $0.03 during trading on Monday, reaching $10.56. The company had a trading volume of 3,902,424 shares, compared to its average volume of 3,940,267. Platform Specialty Products has a twelve month low of $9.11 and a twelve month high of $14.82. The firm has a market cap of $3,020.00, a P/E ratio of -22.00, a PEG ratio of 0.91 and a beta of 3.07. The company has a debt-to-equity ratio of 1.77, a current ratio of 2.05 and a quick ratio of 1.55.
In related news, insider Diego Lopez Casanello bought 4,000 shares of the stock in a transaction that occurred on Tuesday, December 19th. The shares were acquired at an average price of $9.91 per share, with a total value of $39,640.00. Following the completion of the transaction, the insider now owns 15,000 shares in the company, valued at $148,650. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Martin E. Franklin bought 164,467 shares of the stock in a transaction that occurred on Thursday, December 14th. The stock was bought at an average cost of $9.57 per share, for a total transaction of $1,573,949.19. The disclosure for this purchase can be found here. In the last ninety days, insiders purchased 669,467 shares of company stock worth $6,453,139. 5.20% of the stock is owned by company insiders.
Large investors have recently added to or reduced their stakes in the stock. Oppenheimer Asset Management Inc. acquired a new stake in shares of Platform Specialty Products in the third quarter valued at about $111,000. FNY Partners Fund LP increased its position in shares of Platform Specialty Products by 177.8% in the second quarter. FNY Partners Fund LP now owns 10,000 shares of the specialty chemicals company’s stock valued at $126,000 after acquiring an additional 6,400 shares during the last quarter. Quantbot Technologies LP acquired a new stake in shares of Platform Specialty Products in the second quarter valued at about $129,000. Bfsg LLC acquired a new stake in shares of Platform Specialty Products in the second quarter valued at about $130,000. Finally, JPMorgan Chase & Co. increased its position in shares of Platform Specialty Products by 167.5% in the second quarter. JPMorgan Chase & Co. now owns 15,217 shares of the specialty chemicals company’s stock valued at $193,000 after acquiring an additional 9,528 shares during the last quarter. 93.53% of the stock is currently owned by institutional investors and hedge funds.
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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