Roth Capital Reiterates $13.00 Price Target for Platform Specialty Products Corp. (PAH)

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Platform Specialty Products Corp. (NYSE:PAH) received a $13.00 price objective from analysts at Roth Capital in a research report issued to clients and investors on Wednesday. The brokerage currently has a a “buy” rating on the stock. Roth Capital’s price target suggests a potential upside of 45.09% from the company’s previous close.
A number of other brokerages have also weighed in on PAH. Nomura reaffirmed a “neutral” rating and issued a $12.00 price target (up previously from $11.00) on shares of Platform Specialty Products Corp. in a research note on Tuesday. Barclays PLC cut their price target on shares of Platform Specialty Products Corp. from $12.00 to $11.00 and set an “equal weight” rating on the stock in a research note on Tuesday, August 16th. Finally, Citigroup Inc. began coverage on shares of Platform Specialty Products Corp. in a research note on Thursday, July 28th. They issued a “buy” rating and a $11.00 price target on the stock. Six investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $12.00.
Platform Specialty Products Corp. (NYSE:PAH) traded down 6.864% during mid-day trading on Wednesday, hitting $8.345. 5,469,057 shares of the company traded hands. The stock’s market capitalization is $1.92 billion. The company’s 50-day moving average is $9.16 and its 200-day moving average is $9.04. Platform Specialty Products Corp. has a one year low of $5.25 and a one year high of $17.42.

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Platform Specialty Products Corp. (NYSE:PAH) last announced its quarterly 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. Platform Specialty Products Corp. had a negative net margin of 13.44% and a negative return on equity of 2.54%. The company earned $922 million during the quarter, compared to the consensus estimate of $887.71 million. During the same period in the previous year, the firm posted $0.25 EPS. The business’s quarterly revenue was up 36.6% compared to the same quarter last year. Analysts predict that Platform Specialty Products Corp. will post $0.65 EPS for the current year.
Several hedge funds have recently bought and sold shares of PAH. Stifel Financial Corp acquired a new stake in Platform Specialty Products Corp. during the second quarter worth about $103,000. Ameriprise Financial Inc. acquired a new stake in Platform Specialty Products Corp. during the second quarter worth about $106,000. Menta Capital LLC acquired a new stake in Platform Specialty Products Corp. during the first quarter worth about $117,000. Capstone Investment Advisors LLC acquired a new stake in Platform Specialty Products Corp. during the second quarter worth about $126,000. Finally, Legal & General Group Plc increased its stake in Platform Specialty Products Corp. by 59.1% in the first quarter. Legal & General Group Plc now owns 14,761 shares of the company’s stock worth $127,000 after buying an additional 5,481 shares during the period. Institutional investors own 90.94% of the company’s stock.
Platform Specialty Products Corp. Company Profile

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