ValuEngine upgraded shares of Platform Specialty Products (NYSE:PAH) from a sell rating to a hold rating in a research note published on Wednesday morning.

A number of other equities analysts have also weighed in on the company. Morgan Stanley set a $12.00 price objective on Platform Specialty Products and gave the stock a hold rating in a research note on Thursday, June 7th. Zacks Investment Research lowered Platform Specialty Products from a buy rating to a hold rating in a research note on Tuesday, April 17th. Finally, Goldman Sachs Group lowered Platform Specialty Products from a buy rating to a neutral rating in a research note on Monday, July 23rd. Two analysts have rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the stock. The stock presently has a consensus rating of Hold and an average price target of $13.20.

Shares of NYSE PAH traded down $0.31 during mid-day trading on Wednesday, reaching $12.25. The company’s stock had a trading volume of 4,388,130 shares, compared to its average volume of 4,010,369. The firm has a market cap of $3.55 billion, a price-to-earnings ratio of 16.12, a price-to-earnings-growth ratio of 1.79 and a beta of 3.17. The company has a quick ratio of 1.62, a current ratio of 2.11 and a debt-to-equity ratio of 2.07. Platform Specialty Products has a 52 week low of $9.09 and a 52 week high of $13.11.

Platform Specialty Products (NYSE:PAH) last released its quarterly earnings data on Thursday, August 2nd. The specialty chemicals company reported $0.26 earnings per share for the quarter, topping analysts’ consensus estimates of $0.24 by $0.02. The firm had revenue of $1 billion during the quarter, compared to analyst estimates of $997.27 million. Platform Specialty Products had a positive return on equity of 9.15% and a negative net margin of 4.08%. The business’s quarterly revenue was up 6.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.20 earnings per share. research analysts expect that Platform Specialty Products will post 0.57 EPS for the current fiscal year.

In other news, insider John David Tolbert purchased 16,000 shares of the company’s stock in a transaction that occurred on Monday, August 6th. The stock was bought at an average cost of $12.13 per share, with a total value of $194,080.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Pershing Square Capital Manage purchased 9,968,304 shares of the company’s stock in a transaction that occurred on Monday, August 6th. The shares were purchased at an average cost of $12.10 per share, with a total value of $120,616,478.40. The disclosure for this purchase can be found here. Corporate insiders own 5.40% of the company’s stock.

Institutional investors have recently made changes to their positions in the stock. Legal & General Group Plc boosted its stake in Platform Specialty Products by 24.2% during the first quarter. Legal & General Group Plc now owns 158,282 shares of the specialty chemicals company’s stock valued at $1,524,000 after buying an additional 30,830 shares during the last quarter. Bain Capital Credit LP bought a new stake in shares of Platform Specialty Products in the 1st quarter valued at approximately $4,030,000. Bank of Montreal Can lifted its stake in shares of Platform Specialty Products by 1.5% in the 2nd quarter. Bank of Montreal Can now owns 1,183,951 shares of the specialty chemicals company’s stock valued at $13,734,000 after purchasing an additional 17,390 shares during the last quarter. Russell Investments Group Ltd. lifted its stake in shares of Platform Specialty Products by 30.7% in the 1st quarter. Russell Investments Group Ltd. now owns 1,324,131 shares of the specialty chemicals company’s stock valued at $12,749,000 after purchasing an additional 311,070 shares during the last quarter. Finally, BlackRock Inc. lifted its stake in shares of Platform Specialty Products by 2.0% in the 1st quarter. BlackRock Inc. now owns 14,077,883 shares of the specialty chemicals company’s stock valued at $135,570,000 after purchasing an additional 282,062 shares during the last quarter. 99.04% of the stock is owned by institutional investors.

Platform Specialty Products Company Profile

Platform Specialty Products Corporation produces and sells specialty chemical products worldwide. It operates through two segments, Performance Solutions and Agricultural Solutions. The Performance Solutions segment offers a range of specialty chemicals, such as surface and coating materials, functional conversion coatings, electronic assembly materials, water-based hydraulic control fluids, and photopolymers.

Further Reading: NASDAQ

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Analyst Recommendations for Platform Specialty Products (NYSE:PAH)

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