Platform Specialty Products Corp (PAH) Given Consensus Recommendation of “Hold” by Brokerages

Platform Specialty Products Corp (NYSE:PAH) has been assigned an average recommendation of “Hold” from the eight research firms that are currently covering the firm, Marketbeat reports. Six investment analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $13.25.

Several equities analysts have recently weighed in on the stock. Zacks Investment Research lowered shares of Platform Specialty Products from a “buy” rating to a “hold” rating in a research report on Friday, February 1st. UBS Group set a $14.00 price objective on shares of Platform Specialty Products and gave the company a “buy” rating in a research report on Tuesday, January 29th. SunTrust Banks lowered shares of Platform Specialty Products from a “buy” rating to a “hold” rating in a research report on Monday, January 14th. Finally, ValuEngine upgraded shares of Platform Specialty Products from a “sell” rating to a “hold” rating in a research note on Wednesday, January 2nd.

In related news, insider Pershing Square Capital Manage sold 37,000,000 shares of the company’s stock in a transaction dated Sunday, February 3rd. The shares were sold at an average price of $11.72, for a total value of $433,640,000.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 5.40% of the company’s stock.

Institutional investors have recently made changes to their positions in the business. BlackRock Inc. boosted its stake in shares of Platform Specialty Products by 5.2% in the 3rd quarter. BlackRock Inc. now owns 15,970,501 shares of the specialty chemicals company’s stock valued at $199,152,000 after purchasing an additional 790,068 shares in the last quarter. FMR LLC boosted its stake in shares of Platform Specialty Products by 13.8% in the 3rd quarter. FMR LLC now owns 35,236,005 shares of the specialty chemicals company’s stock valued at $439,393,000 after purchasing an additional 4,269,219 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Platform Specialty Products by 3.3% in the 3rd quarter. Dimensional Fund Advisors LP now owns 15,396,608 shares of the specialty chemicals company’s stock valued at $191,997,000 after purchasing an additional 497,390 shares in the last quarter. Franklin Resources Inc. boosted its stake in shares of Platform Specialty Products by 220.5% in the 3rd quarter. Franklin Resources Inc. now owns 40,106 shares of the specialty chemicals company’s stock valued at $500,000 after purchasing an additional 27,594 shares in the last quarter. Finally, Ancora Advisors LLC boosted its stake in shares of Platform Specialty Products by 17.4% in the 3rd quarter. Ancora Advisors LLC now owns 1,955,496 shares of the specialty chemicals company’s stock valued at $24,385,000 after purchasing an additional 289,382 shares in the last quarter. Hedge funds and other institutional investors own 94.50% of the company’s stock.

Shares of PAH traded up $0.05 during trading hours on Wednesday, hitting $10.10. The company had a trading volume of 2,395,912 shares, compared to its average volume of 2,451,152. The firm has a market capitalization of $2.91 billion, a PE ratio of 13.29, a PEG ratio of 4.42 and a beta of 2.59. Platform Specialty Products has a 12 month low of $9.09 and a 12 month high of $13.54. The company has a debt-to-equity ratio of 2.55, a current ratio of 2.19 and a quick ratio of 2.00.

About Platform Specialty Products

Platform Specialty Products Corp. engages in the provision of technology chemical products and technical services. It operates its business through the Performance Solutions and Agricultural Solutions segments. The Performance Solutions segment formulates and markets chemistry solutions that are used in production, commercial packaging and printing, electronics, and oil and gas production and drilling.

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Analyst Recommendations for Platform Specialty Products (NYSE:PAH)

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