Platform Specialty Products Corporation (PAH) Upgraded to Hold by Zacks Investment Research

Platform Specialty Products Corporation (NYSE:PAH) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Saturday.

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. “

A number of other brokerages also recently weighed in on PAH. UBS AG restated a “buy” rating and set a $17.00 price target (up previously from $16.00) on shares of Platform Specialty Products Corporation in a research report on Thursday. Instinet reduced their price target on shares of Platform Specialty Products Corporation to $14.00 and set a “buy” rating for the company in a research report on Tuesday, June 13th. Nomura restated a “buy” rating and set a $16.00 price target on shares of Platform Specialty Products Corporation in a research report on Tuesday, May 9th. Finally, ValuEngine upgraded shares of Platform Specialty Products Corporation from a “hold” rating to a “buy” rating in a research report on Tuesday, June 13th. Four equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $13.10.

Platform Specialty Products Corporation (NYSE:PAH) opened at 12.90 on Friday. Platform Specialty Products Corporation has a 52-week low of $6.85 and a 52-week high of $14.82. The company’s market capitalization is $3.69 billion. The company has a 50-day moving average price of $13.20 and a 200 day moving average price of $13.02.

Platform Specialty Products Corporation (NYSE:PAH) last posted its earnings results on Wednesday, August 9th. The specialty chemicals company reported $0.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.18 by $0.02. The company had revenue of $941.10 million during the quarter, compared to the consensus estimate of $933.32 million. Platform Specialty Products Corporation had a negative net margin of 0.26% and a positive return on equity of 7.12%. The firm’s quarterly revenue was up 2.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.16 earnings per share. Equities research analysts anticipate that Platform Specialty Products Corporation will post $0.79 earnings per share for the current year.

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Hedge funds have recently bought and sold shares of the stock. Global Endowment Management LP raised its position in shares of Platform Specialty Products Corporation by 7.6% in the second quarter. Global Endowment Management LP now owns 41,300 shares of the specialty chemicals company’s stock valued at $524,000 after buying an additional 2,900 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Platform Specialty Products Corporation by 14.8% in the second quarter. Dimensional Fund Advisors LP now owns 5,506,124 shares of the specialty chemicals company’s stock valued at $69,819,000 after buying an additional 708,950 shares in the last quarter. Virtu KCG Holdings LLC raised its position in shares of Platform Specialty Products Corporation by 81.4% in the second quarter. Virtu KCG Holdings LLC now owns 32,341 shares of the specialty chemicals company’s stock valued at $410,000 after buying an additional 14,509 shares in the last quarter. Quantbot Technologies LP bought a new position in shares of Platform Specialty Products Corporation during the second quarter valued at approximately $129,000. Finally, California Public Employees Retirement System raised its position in shares of Platform Specialty Products Corporation by 2.2% in the second quarter. California Public Employees Retirement System now owns 438,900 shares of the specialty chemicals company’s stock valued at $5,565,000 after buying an additional 9,500 shares in the last quarter. 94.98% of the stock is owned by institutional investors and hedge funds.

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