What Next for Platform Specialty Products Corporation (PAH) After Forming Wedge Down?

December 8, 2017 - By Henry Gaston

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.
Nomura Holdings Incorporated stated it has 1.75 million shares. Franklin reported 276,276 shares. New York State Common Retirement Fund owns 560,537 shares. World holds 0.04% of its portfolio in Platform Specialty Products Corporation (NYSE:PAH) for 12.08M shares. Virginia Retirement Et Al accumulated 124,500 shares. Millennium Management Ltd holds 553,798 shares or 0.01% of its portfolio. Sei Invests Com holds 0% or 918 shares in its portfolio. Metropolitan Life Insurance Com Ny holds 0% of its portfolio in Platform Specialty Products Corporation (NYSE:PAH) for 10,513 shares. Ascend Limited Liability Co has invested 0.37% in Platform Specialty Products Corporation (NYSE:PAH). Minnesota-based Walleye Trading Ltd Llc has invested 0.03% in Platform Specialty Products Corporation (NYSE:PAH). Gamco Et Al reported 0.01% of its portfolio in Platform Specialty Products Corporation (NYSE:PAH). Wellington Mngmt Grp Incorporated Llp stated it has 21.75M shares. Pacad invested 0.01% of its portfolio in Platform Specialty Products Corporation (NYSE:PAH). California State Teachers Retirement Systems reported 402,094 shares or 0.01% of all its holdings. State Board Of Administration Of Florida Retirement Systems accumulated 222,411 shares.

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 $68.92M 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. The stock has “Buy” rating by SunTrust on Thursday, November 2. The rating was reinitiated by Credit Suisse with “Neutral” on Thursday, December 3. Credit Suisse reinitiated Platform Specialty Products Corporation (NYSE:PAH) rating on Monday, May 2. Credit Suisse has “Neutral” rating and $10 target. The firm earned “Equal-Weight” rating on Monday, January 30 by Morgan Stanley. The stock of Platform Specialty Products Corporation (NYSE:PAH) earned “Equal Weight” rating by Barclays Capital on Wednesday, October 5. The company was maintained on Wednesday, October 11 by Barclays Capital. The firm earned “Buy” rating on Monday, August 22 by Roth Capital. UBS maintained Platform Specialty Products Corporation (NYSE:PAH) on Thursday, September 29 with “Buy” rating. Roth Capital maintained Platform Specialty Products Corporation (NYSE:PAH) on Thursday, November 2 with “Buy” rating. The rating was upgraded by SunTrust to “Buy” on Monday, September 18.

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

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