Zacks Investment Research upgraded shares of Platform Specialty Products (NYSE:PAH) from a sell rating to a hold rating in a research report released on Friday, August 31st.

According to Zacks, “Platform Specialty’s adjusted earnings and sales for the second quarter beat the respective Zacks Consensus Estimate. The company is witnessing improved organic sales as well as higher demand in Latin America and North America from positive crop prices. Moreover, it remains focused on growing through strategic acquisitions. The company has also outperformed the industry it belongs to over the past six months. However, Platform Specialty is exposed to raw material inflation which may hurt its margins. Also, poor weather conditions and softness in Europe could impact the performance of its Agricultural Solutions business in the near term. The company’s high debt level is another concern.”

PAH has been the subject of several other reports. ValuEngine upgraded shares of Platform Specialty Products from a sell rating to a hold rating in a report on Wednesday, August 8th. Morgan Stanley set a $12.00 price target on shares of Platform Specialty Products and gave the stock a hold rating in a report on Thursday, June 7th. Finally, Goldman Sachs Group downgraded shares of Platform Specialty Products from a buy rating to a neutral rating in a report on Monday, July 23rd. Six investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. The stock presently has a consensus rating of Hold and an average target price of $13.20.

NYSE PAH opened at $12.73 on Friday. The company has a debt-to-equity ratio of 2.07, a current ratio of 2.11 and a quick ratio of 1.62. Platform Specialty Products has a 1-year low of $9.09 and a 1-year high of $13.54. The company has a market capitalization of $3.74 billion, a PE ratio of 16.75, a price-to-earnings-growth ratio of 1.88 and a beta of 3.17.

Platform Specialty Products (NYSE:PAH) last released its quarterly earnings results on Thursday, August 2nd. The specialty chemicals company reported $0.26 earnings per share for the quarter, beating analysts’ consensus estimates of $0.24 by $0.02. Platform Specialty Products had a negative net margin of 4.08% and a positive return on equity of 9.15%. The company had revenue of $1 billion during the quarter, compared to the consensus estimate of $997.27 million. During the same period in the previous year, the business earned $0.20 earnings per share. The firm’s quarterly revenue was up 6.5% on a year-over-year basis. sell-side analysts anticipate that Platform Specialty Products will post 0.57 earnings per share for the current year.

In other news, Director Ian G. H. Ashken purchased 10,000 shares of the business’s stock in a transaction on Monday, August 13th. The shares were acquired at an average price of $12.08 per share, with a total value of $120,800.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Scot Benson purchased 6,000 shares of the business’s stock in a transaction on Thursday, August 23rd. The shares were purchased at an average cost of $12.56 per share, for a total transaction of $75,360.00. Following the transaction, the insider now directly owns 85,456 shares of the company’s stock, valued at approximately $1,073,327.36. The disclosure for this purchase can be found here. Insiders have acquired 10,281,137 shares of company stock worth $124,380,356 in the last ninety days. Insiders own 5.40% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in PAH. LPL Financial LLC acquired a new position in shares of Platform Specialty Products during the first quarter valued at about $108,000. Neuberger Berman Group LLC acquired a new stake in shares of Platform Specialty Products in the 1st quarter worth about $113,000. InterOcean Capital LLC acquired a new stake in shares of Platform Specialty Products in the 2nd quarter worth about $121,000. Granite Springs Asset Management LLC acquired a new stake in shares of Platform Specialty Products in the 1st quarter worth about $133,000. Finally, First National Bank of Omaha acquired a new stake in shares of Platform Specialty Products in the 2nd quarter worth about $139,000. Hedge funds and other institutional investors own 95.31% of the company’s stock.

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.

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