Zacks Investment Research lowered shares of Platform Specialty Products (NYSE:PAH) from a buy rating to a hold rating in a report published on Tuesday morning.
According to Zacks, “Platform Specialty Products Corporation is a producer of high technology specialty chemical products as well as technical services. The company serves electronics, metal and plastic plating, graphic arts, and offshore oil production and drilling industries. Platform Specialty Products Corporation is headquartered in Miami, United States. “
Separately, ValuEngine downgraded Platform Specialty Products from a hold rating to a sell rating in a report on Monday, April 2nd. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the company’s stock. The company presently has an average rating of Hold and a consensus target price of $14.14.
Platform Specialty Products (NYSE:PAH) last released its quarterly earnings data on Tuesday, February 27th. The specialty chemicals company reported $0.23 EPS for the quarter, hitting analysts’ consensus estimates of $0.23. The business had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $978.56 million. Platform Specialty Products had a positive return on equity of 7.69% and a negative net margin of 7.84%. The business’s revenue for the quarter was up 12.5% on a year-over-year basis. During the same period in the prior year, the firm posted $0.20 EPS. analysts expect that Platform Specialty Products will post 0.97 earnings per share for the current fiscal year.
Several hedge funds have recently added to or reduced their stakes in PAH. Oppenheimer Asset Management Inc. acquired a new stake in shares of Platform Specialty Products during the 3rd quarter worth $111,000. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Platform Specialty Products by 69.6% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,365 shares of the specialty chemicals company’s stock worth $113,000 after buying an additional 4,662 shares during the last quarter. Kazazian Asset Management LLC acquired a new stake in shares of Platform Specialty Products during the 4th quarter worth $130,000. Investors Research Corp acquired a new stake in shares of Platform Specialty Products during the 4th quarter worth $134,000. Finally, SeaCrest Wealth Management LLC acquired a new stake in Platform Specialty Products in the 4th quarter valued at $145,000. Institutional investors and hedge funds own 92.62% of the company’s stock.
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About Platform Specialty Products
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.
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