SunTrust Banks, Inc. upgraded shares of Platform Specialty Products Corporation (NYSE:PAH) from a hold rating to a buy rating in a research note released on Monday morning. They currently have $15.00 target price on the specialty chemicals company’s stock, up from their previous target price of $13.00.

Other equities analysts have also recently issued research reports about the stock. ValuEngine raised shares of Platform Specialty Products Corporation from a hold rating to a buy rating in a research report on Tuesday, June 13th. Instinet dropped their target price on shares of Platform Specialty Products Corporation to $14.00 and set a buy rating on the stock in a research report on Tuesday, June 13th. UBS AG reissued a buy rating and set a $17.00 target price (up previously from $16.00) on shares of Platform Specialty Products Corporation in a research report on Thursday, August 10th. Zacks Investment Research cut shares of Platform Specialty Products Corporation from a buy rating to a hold rating in a research report on Tuesday, July 11th. Finally, BidaskClub cut shares of Platform Specialty Products Corporation from a hold rating to a sell rating in a research report on Saturday, August 12th. One analyst has rated the stock with a sell rating, four have issued a hold rating and eight have given a buy rating to the stock. Platform Specialty Products Corporation presently has a consensus rating of Buy and a consensus price target of $13.27.

Platform Specialty Products Corporation (PAH) opened at 11.58 on Monday. The firm’s 50-day moving average price is $12.34 and its 200-day moving average price is $12.85. Platform Specialty Products Corporation has a 12 month low of $6.85 and a 12 month high of $14.82. The firm’s market cap is $3.32 billion.

Platform Specialty Products Corporation (NYSE:PAH) last posted its earnings results on Wednesday, August 9th. The specialty chemicals company reported $0.20 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.18 by $0.02. Platform Specialty Products Corporation had a negative net margin of 0.26% and a positive return on equity of 7.15%. The firm had revenue of $941.10 million for the quarter, compared to analysts’ expectations of $933.32 million. During the same quarter last 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 research analysts expect that Platform Specialty Products Corporation will post $0.80 EPS for the current fiscal year.

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In related news, CEO Rakesh Sachdev purchased 11,000 shares of the stock in a transaction that occurred on Friday, August 25th. The shares were bought at an average price of $11.06 per share, with a total value of $121,660.00. Following the acquisition, the chief executive officer now owns 11,000 shares of the company’s stock, valued at approximately $121,660. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Ian G. H. Ashken purchased 45,000 shares of the stock in a transaction that occurred on Tuesday, August 29th. The stock was bought at an average cost of $10.98 per share, for a total transaction of $494,100.00. The disclosure for this purchase can be found here. Insiders purchased a total of 60,500 shares of company stock worth $664,865 in the last ninety days. 6.00% of the stock is currently owned by insiders.

Several large investors have recently bought and sold shares of PAH. Teachers Advisors LLC raised its holdings in shares of Platform Specialty Products Corporation by 23.3% in the 4th quarter. Teachers Advisors LLC now owns 220,494 shares of the specialty chemicals company’s stock worth $2,163,000 after purchasing an additional 41,652 shares during the period. Nationwide Fund Advisors bought a new stake in shares of Platform Specialty Products Corporation in the 1st quarter worth approximately $491,000. ProShare Advisors LLC raised its holdings in shares of Platform Specialty Products Corporation by 2.8% in the 1st quarter. ProShare Advisors LLC now owns 16,403 shares of the specialty chemicals company’s stock worth $214,000 after purchasing an additional 448 shares during the period. Canada Pension Plan Investment Board raised its holdings in shares of Platform Specialty Products Corporation by 3.1% in the 1st quarter. Canada Pension Plan Investment Board now owns 104,410 shares of the specialty chemicals company’s stock worth $1,359,000 after purchasing an additional 3,100 shares during the period. Finally, Great West Life Assurance Co. Can raised its holdings in shares of Platform Specialty Products Corporation by 40.9% in the 1st quarter. Great West Life Assurance Co. Can now owns 23,429 shares of the specialty chemicals company’s stock worth $305,000 after purchasing an additional 6,800 shares during the period. 93.71% of the stock is currently owned by institutional investors.

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.

Analyst Recommendations for Platform Specialty Products Corporation (NYSE:PAH)

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