Brokerages expect that Platform Specialty Products Corp (NYSE:PAH) will report sales of $982.55 million for the current fiscal quarter, Zacks reports. Two analysts have made estimates for Platform Specialty Products’ earnings, with the highest sales estimate coming in at $988.00 million and the lowest estimate coming in at $977.10 million. Platform Specialty Products reported sales of $950.00 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 3.4%. The firm is expected to announce its next quarterly earnings report on Tuesday, February 27th.
On average, analysts expect that Platform Specialty Products will report full-year sales of $982.55 million for the current year, with estimates ranging from $3.68 billion to $3.70 billion. For the next fiscal year, analysts expect that the company will report sales of $3.85 billion per share, with estimates ranging from $3.84 billion to $3.86 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Platform Specialty Products.
Several equities research analysts have commented on PAH shares. SunTrust Banks reiterated a “buy” rating and issued a $15.00 price target on shares of Platform Specialty Products in a research report on Friday, November 3rd. 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 on the stock. ValuEngine cut shares of Platform Specialty Products from a “buy” rating to a “hold” rating in a research report on Friday, December 1st. Finally, Zacks Investment Research upgraded shares of Platform Specialty Products from a “sell” rating to a “hold” rating in a research report on Thursday, January 4th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the company’s stock. Platform Specialty Products has a consensus rating of “Hold” and a consensus target price of $14.71.
In related news, insider Diego Lopez Casanello acquired 4,000 shares of the business’s stock in a transaction on Tuesday, December 19th. The shares were purchased at an average price of $9.91 per share, for a total transaction of $39,640.00. Following the acquisition, the insider now owns 15,000 shares in the company, valued at $148,650. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Martin E. Franklin acquired 164,467 shares of the business’s stock in a transaction on Thursday, December 14th. The shares were bought at an average price of $9.57 per share, for a total transaction of $1,573,949.19. The disclosure for this purchase can be found here. Over the last quarter, insiders acquired 669,467 shares of company stock worth $6,453,139. 5.20% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. J. Goldman & Co LP acquired a new stake in Platform Specialty Products during the 4th quarter worth about $3,697,000. Kazazian Asset Management LLC acquired a new stake in Platform Specialty Products during the 4th quarter worth about $130,000. Crestline Management LP acquired a new stake in Platform Specialty Products during the 4th quarter worth about $1,308,000. Meadow Creek Investment Management LLC raised its holdings in Platform Specialty Products by 52.4% during the 4th quarter. Meadow Creek Investment Management LLC now owns 42,500 shares of the specialty chemicals company’s stock worth $422,000 after buying an additional 14,620 shares during the period. Finally, Ardsley Advisory Partners raised its holdings in Platform Specialty Products by 107.1% during the 4th quarter. Ardsley Advisory Partners now owns 1,025,000 shares of the specialty chemicals company’s stock worth $10,158,000 after buying an additional 530,000 shares during the period. Hedge funds and other institutional investors own 89.18% of the company’s stock.
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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.
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