The Platform Specialty Products Corp. (PAH) Given a $10.00 Price Target at Barclays PLC

The Platform Specialty Products Corp. (PAH) Given a $10.00 Price Target at Barclays PLC

Platform Specialty Products Corp. (NYSE:PAH) has been assigned a $10.00 price target by stock analysts at Barclays PLC in a research note issued to investors on Wednesday. The firm currently has a an “equal weight” rating on the stock. Barclays PLC’s price objective suggests a potential upside of 38.31% from the stock’s current price.

Other analysts also recently issued research reports about the company. Nomura reiterated a “neutral” rating and set a $12.00 price target (up previously from $11.00) on shares of Platform Specialty Products Corp. in a research report on Tuesday, September 13th. Citigroup Inc. began coverage on Platform Specialty Products Corp. in a research report on Thursday, July 28th. They set a “buy” rating and a $11.00 price target for the company. Zacks Investment Research downgraded Platform Specialty Products Corp. from a “hold” rating to a “sell” rating in a research report on Wednesday. Finally, Roth Capital started coverage on Platform Specialty Products Corp. in a research report on Monday, August 22nd. They issued a “buy” rating and a $12.00 target price for the company. One analyst has rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $11.83.

Platform Specialty Products Corp. (NYSE:PAH) traded down 3.21% on Wednesday, hitting $7.23. 4,201,482 shares of the stock were exchanged. Platform Specialty Products Corp. has a 52-week low of $5.25 and a 52-week high of $14.33. The company has a 50-day moving average price of $8.66 and a 200-day moving average price of $9.04. The firm’s market cap is $1.66 billion.

10/08/platform-specialty-products-corp-pah-given-a-10-00-price-target-at-barclays-plc.html

Platform Specialty Products Corp. (NYSE:PAH) last posted its earnings results on Monday, August 8th. The company reported $0.16 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.20 by $0.04. The company had revenue of $922 million for the quarter, compared to analysts’ expectations of $887.71 million. Platform Specialty Products Corp. had a negative net margin of 12.86% and a negative return on equity of 1.80%. The firm’s quarterly revenue was up 36.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.25 EPS. On average, equities research analysts anticipate that Platform Specialty Products Corp. will post $0.57 EPS for the current fiscal year.

In related news, Director Martin E. Franklin acquired 1,050,000 shares of the stock in a transaction on Friday, September 16th. The stock was purchased at an average price of $8.25 per share, for a total transaction of $8,662,500.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 6.00% of the stock is owned by company insiders.

A number of hedge funds have recently made changes to their positions in PAH. Wellington Management Group LLP increased its stake in shares of Platform Specialty Products Corp. by 12.6% in the first quarter. Wellington Management Group LLP now owns 28,164,686 shares of the company’s stock valued at $242,216,000 after buying an additional 3,162,721 shares during the last quarter. Emerald Acquisition Ltd. bought a new stake in shares of Platform Specialty Products Corp. during the second quarter valued at $16,441,000. Vanguard Group Inc. increased its stake in shares of Platform Specialty Products Corp. by 16.9% in the second quarter. Vanguard Group Inc. now owns 10,549,471 shares of the company’s stock valued at $93,680,000 after buying an additional 1,521,976 shares during the last quarter. Elliott Management Corp bought a new stake in shares of Platform Specialty Products Corp. during the first quarter valued at $12,440,000. Finally, Bares Capital Management Inc. increased its stake in shares of Platform Specialty Products Corp. by 7.0% in the second quarter. Bares Capital Management Inc. now owns 12,786,794 shares of the company’s stock valued at $113,547,000 after buying an additional 836,225 shares during the last quarter. Hedge funds and other institutional investors own 76.75% of the company’s stock.

Related posts

Leave a Comment