Platform Specialty Products (PAH) Cut to “Hold” at ValuEngine
ValuEngine cut shares of Platform Specialty Products (NYSE:PAH) from a buy rating to a hold rating in a research note issued to investors on Friday morning.
Several other research firms have also commented on PAH. Barclays cut their target price on shares of Platform Specialty Products from $15.00 to $14.00 and set an equal weight rating for the company in a research note on Wednesday, October 11th. Zacks Investment Research upgraded shares of Platform Specialty Products from a sell rating to a hold rating in a research report on Saturday, August 12th. UBS restated a buy rating and issued a $17.00 price target (up previously from $16.00) on shares of Platform Specialty Products in a research report on Thursday, August 10th. Credit Suisse Group started coverage on shares of Platform Specialty Products in a research report on Wednesday, November 15th. They issued a neutral rating and a $12.00 price target for the company. Finally, BidaskClub downgraded shares of Platform Specialty Products from a hold rating to a sell rating in a research report on Saturday, August 12th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and seven have issued a buy rating to the stock. Platform Specialty Products presently has a consensus rating of Hold and a consensus price target of $13.50.
Platform Specialty Products (NYSE PAH) traded down $0.35 during mid-day trading on Friday, reaching $9.60. 4,695,600 shares of the company traded hands, compared to its average volume of 2,375,444. Platform Specialty Products has a fifty-two week low of $9.11 and a fifty-two week high of $14.82. The firm has a market capitalization of $2,756.13, a price-to-earnings ratio of 13.15, a PEG ratio of 1.02 and a beta of 3.19. The company has a current ratio of 2.05, a quick ratio of 1.55 and a debt-to-equity ratio of 1.77.
Hedge funds have recently added to or reduced their stakes in the business. Oppenheimer Asset Management Inc. purchased a new stake in Platform Specialty Products in the 3rd quarter worth approximately $111,000. FNY Partners Fund LP lifted its position in Platform Specialty Products by 177.8% in the 2nd quarter. FNY Partners Fund LP now owns 10,000 shares of the specialty chemicals company’s stock worth $126,000 after buying an additional 6,400 shares in the last quarter. Quantbot Technologies LP purchased a new stake in Platform Specialty Products in the 2nd quarter worth approximately $129,000. Bfsg LLC purchased a new stake in Platform Specialty Products in the 2nd quarter worth approximately $130,000. Finally, JPMorgan Chase & Co. lifted its position in Platform Specialty Products by 167.5% in the 2nd quarter. JPMorgan Chase & Co. now owns 15,217 shares of the specialty chemicals company’s stock worth $193,000 after buying an additional 9,528 shares in the last quarter. Institutional investors own 93.54% of the company’s stock.
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.
To view ValuEngine’s full report, visit ValuEngine’s official website.
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