Platform Specialty Products (NYSE:PAH) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Thursday.
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 cut Platform Specialty Products from a “buy” rating to a “hold” rating in a research note on Friday, December 1st. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $14.29.
Platform Specialty Products (NYSE:PAH) last posted 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. The company had revenue of $1.07 billion during the quarter, compared to analysts’ expectations of $978.56 million. Platform Specialty Products had a positive return on equity of 7.69% and a negative net margin of 7.84%. The firm’s quarterly revenue was up 12.5% compared to the same quarter last year. During the same quarter last year, the firm earned $0.20 earnings per share. equities analysts expect that Platform Specialty Products will post 0.99 EPS for the current year.
A number of hedge funds have recently bought and sold shares of PAH. American Century Companies Inc. increased its stake in Platform Specialty Products by 28.5% during the third quarter. American Century Companies Inc. now owns 226,146 shares of the specialty chemicals company’s stock worth $2,522,000 after acquiring an additional 50,210 shares during the last quarter. Swiss National Bank grew its stake in shares of Platform Specialty Products by 3.2% in the third quarter. Swiss National Bank now owns 382,889 shares of the specialty chemicals company’s stock valued at $4,269,000 after buying an additional 11,700 shares in the last quarter. Russell Investments Group Ltd. grew its stake in shares of Platform Specialty Products by 30.5% in the third quarter. Russell Investments Group Ltd. now owns 2,594,646 shares of the specialty chemicals company’s stock valued at $28,927,000 after buying an additional 605,664 shares in the last quarter. Macquarie Group Ltd. grew its stake in shares of Platform Specialty Products by 35.4% in the third quarter. Macquarie Group Ltd. now owns 266,749 shares of the specialty chemicals company’s stock valued at $2,974,000 after buying an additional 69,749 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in shares of Platform Specialty Products in the third quarter valued at $710,000. 92.24% of the stock is owned by institutional investors.
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Platform Specialty Products 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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