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Is Platform Specialty Products Corporation (PAH)’s Fuel Running Low? The Stock Formed Bearish Wedge Down Pattern

December 8, 2017 - By Dolores Ford

Investors sentiment is 1.67 in Q2 2017. Its the same as in 2017Q1. It is flat, as 22 investors sold Platform Specialty Products Corporation shares while 45 reduced holdings. only 33 funds opened positions while 79 raised stakes. 240.34 million shares or 2.20% more from 235.17 million shares in 2017Q1 were reported.
Arrowmark Colorado Holding Ltd Company holds 202,198 shares or 0.03% of its portfolio. 2,113 are owned by Us National Bank & Trust De. State Board Of Administration Of Florida Retirement invested in 222,411 shares or 0.01% of the stock. Cap Ww reported 0.04% of its portfolio in Platform Specialty Products Corporation (NYSE:PAH). Zacks Management invested 0.01% in Platform Specialty Products Corporation (NYSE:PAH). Tcw Grp holds 0% or 44,000 shares in its portfolio. Geode Cap Mgmt Ltd reported 1.66 million shares stake. Bnp Paribas Arbitrage Sa holds 0% of its portfolio in Platform Specialty Products Corporation (NYSE:PAH) for 77,096 shares. Utah Retirement invested in 0.01% or 40,500 shares. Piedmont Ltd Liability accumulated 70,592 shares or 0.02% of the stock. Ameriprise invested 0.01% in Platform Specialty Products Corporation (NYSE:PAH). California Public Employees Retirement Systems stated it has 0.01% of its portfolio in Platform Specialty Products Corporation (NYSE:PAH). Benchmark Capital Advisors reported 14,000 shares or 0.14% of all its holdings. Guggenheim Limited Liability Co has 58,394 shares for 0% of their portfolio. Moors & Cabot stated it has 0.26% in Platform Specialty Products Corporation (NYSE:PAH).

The stock of Platform Specialty Products Corporation (PAH) formed a down wedge with $9.00 target or 6.00 % below today’s $9.57 share price. The 9 months wedge indicates high risk for the $2.75B company. If the $9.00 price target is reached, the company will be worth $164.88M less.
Falling wedges are poor performers for bullish breakouts and are tricky moments to trade. Investors must be aware that the break even failure rate for up or down breakouts is: 11% and 15%. The average rise is 32% and the decline is 15%. The falling wedges has high throwback and pullback rate: 56%, 69% and the percent of wedges meeting target is not very high.

The stock decreased 0.52% or $0.05 during the last trading session, reaching $9.57. About 3.69 million shares traded or 33.40% up from the average. Platform Specialty Products Corporation (NYSE:PAH) has risen 48.23% since December 8, 2016 and is uptrending. It has outperformed by 31.53% the S&P500.

Analysts await Platform Specialty Products Corporation (NYSE:PAH) to report earnings on February, 27. They expect $0.24 EPS, up 20.00 % or $0.04 from last year’s $0.2 per share. PAH’s profit will be $68.92 million for 9.97 P/E if the $0.24 EPS becomes a reality. After $0.17 actual EPS reported by Platform Specialty Products Corporation for the previous quarter, Wall Street now forecasts 41.18 % EPS growth.

Platform Specialty Products Corporation (NYSE:PAH) Ratings Coverage

Among 10 analysts covering Platform Specialty Products Corporation (NYSE:PAH), 7 have Buy rating, 0 Sell and 3 Hold. Therefore 70% are positive. Platform Specialty Products Corporation had 25 analyst reports since August 17, 2015 according to SRatingsIntel. Credit Suisse reinitiated Platform Specialty Products Corporation (NYSE:PAH) on Thursday, December 3 with “Neutral” rating. The company was initiated on Monday, January 30 by Morgan Stanley. The stock has “Buy” rating by UBS on Thursday, September 29. The rating was maintained by Barclays Capital with “Equal-Weight” on Wednesday, October 11. Barclays Capital maintained the stock with “Equal Weight” rating in Wednesday, October 5 report. As per Monday, September 18, the company rating was upgraded by SunTrust. The firm has “Buy” rating given on Monday, August 22 by Roth Capital. On Thursday, November 2 the stock rating was maintained by SunTrust with “Buy”. The stock has “Buy” rating by Nomura on Tuesday, June 13. Credit Suisse maintained the shares of PAH in report on Wednesday, November 15 with “Neutral” rating.

More notable recent Platform Specialty Products Corporation (NYSE:PAH) news were published by: Globenewswire.com which released: “Platform Specialty Products Corporation Announces Pricing of Tack-on Offering …” on December 01, 2017, also Globenewswire.com with their article: “Platform Specialty Products Corporation Announces Closing of Senior Notes Offering” published on November 27, 2017, Globenewswire.com published: “Platform Specialty Products Corporation Announces Launch of Senior Notes Offering” on November 08, 2017. More interesting news about Platform Specialty Products Corporation (NYSE:PAH) were released by: Globenewswire.com and their article: “Platform Specialty Products Corporation Announces Pricing of Senior Notes Offering” published on November 09, 2017 as well as Globenewswire.com‘s news article titled: “Platform Specialty Products Corporation Announces Early Tender Results of Cash …” with publication date: November 22, 2017.

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