Shares of Platform Specialty Products Corp (NYSE:PAH) have earned a consensus recommendation of “Hold” from the seven ratings firms that are presently covering the stock, Marketbeat.com reports. Six investment analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $13.25.

PAH has been the subject of a number of recent research reports. Zacks Investment Research raised shares of Platform Specialty Products from a “sell” rating to a “hold” rating in a research note on Friday. ValuEngine cut shares of Platform Specialty Products from a “sell” rating to a “strong sell” rating in a research note on Friday, July 20th. Goldman Sachs Group cut shares of Platform Specialty Products from a “buy” rating to a “neutral” rating in a research note on Monday, July 23rd. Finally, Morgan Stanley set a $12.00 price objective on shares of Platform Specialty Products and gave the stock a “hold” rating in a research note on Thursday, June 7th.

Shares of Platform Specialty Products stock opened at $12.95 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 12-month low of $9.09 and a 12-month high of $13.54. The stock has a market capitalization of $3.67 billion, a price-to-earnings ratio of 17.04, a P/E/G ratio of 1.85 and a beta of 3.17.

Platform Specialty Products (NYSE:PAH) last issued its quarterly earnings data on Thursday, August 2nd. The specialty chemicals company reported $0.26 earnings per share for the quarter, topping the Zacks’ consensus estimate 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 business had revenue of $1 billion during the quarter, compared to analysts’ expectations of $997.27 million. During the same period last year, the company posted $0.20 EPS. The company’s revenue was up 6.5% on a year-over-year basis. sell-side analysts predict that Platform Specialty Products will post 0.57 earnings per share for the current year.

In other news, Director Pershing Square Capital Manage bought 9,968,304 shares of the stock in a transaction on Monday, August 6th. The stock was purchased at an average cost of $12.10 per share, with a total value of $120,616,478.40. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Martin E. Franklin bought 260,000 shares of the stock in a transaction on Wednesday, August 15th. The stock was purchased at an average cost of $12.01 per share, with a total value of $3,122,600.00. The disclosure for this purchase can be found here. Over the last three months, insiders have bought 10,281,137 shares of company stock valued at $124,380,356. Corporate insiders own 5.40% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in the business. State Board of Administration of Florida Retirement System boosted its holdings in shares of Platform Specialty Products by 2.2% in the 2nd quarter. State Board of Administration of Florida Retirement System now owns 227,261 shares of the specialty chemicals company’s stock valued at $2,636,000 after purchasing an additional 4,850 shares during the last quarter. State of Alaska Department of Revenue boosted its holdings in shares of Platform Specialty Products by 33.1% in the 2nd quarter. State of Alaska Department of Revenue now owns 26,400 shares of the specialty chemicals company’s stock valued at $305,000 after purchasing an additional 6,570 shares during the last quarter. IndexIQ Advisors LLC boosted its holdings in shares of Platform Specialty Products by 15.8% in the 2nd quarter. IndexIQ Advisors LLC now owns 53,348 shares of the specialty chemicals company’s stock valued at $619,000 after purchasing an additional 7,298 shares during the last quarter. Swiss National Bank boosted its holdings in shares of Platform Specialty Products by 2.2% in the 1st quarter. Swiss National Bank now owns 399,289 shares of the specialty chemicals company’s stock valued at $3,845,000 after purchasing an additional 8,600 shares during the last quarter. Finally, InterOcean Capital LLC acquired a new position in shares of Platform Specialty Products in the 2nd quarter valued at $121,000. Institutional investors own 95.31% of the company’s stock.

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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Analyst Recommendations for Platform Specialty Products (NYSE:PAH)

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