Bearish Chart Formation for Platform Specialty Products Corporation (PAH) After Forming Wedge Down Pattern

December 8, 2017 - By Adrian Mccoy

Investors sentiment is 1.67 in Q2 2017. Its the same as in 2017Q1. It is without change, 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.
852,097 were accumulated by Tudor Corporation Et Al. First Manhattan holds 0% of its portfolio in Platform Specialty Products Corporation (NYSE:PAH) for 10,000 shares. Raymond James And Assoc holds 123,525 shares or 0% of its portfolio. North Star Investment Mgmt owns 475 shares for 0% of their portfolio. 374,605 are owned by Walleye Trading Ltd Liability Company. Tcw Group Inc Inc accumulated 44,000 shares. Fmr Lc invested in 0.03% or 22.06 million shares. Frontier Cap Mgmt Communication Lc accumulated 557,024 shares or 0.05% of the stock. Westwood Hldgs Gp accumulated 0.01% or 57,611 shares. Moreover, Virginia Retirement Sys Et Al has 0.02% invested in Platform Specialty Products Corporation (NYSE:PAH) for 124,500 shares. Paloma Partners Mgmt reported 38,441 shares stake. First Trust Advsr Limited Partnership stated it has 553,237 shares or 0.02% of all its holdings. Lmm Ltd Liability stated it has 7.33M shares. 402,094 were accumulated by California State Teachers Retirement Systems. National Bank Of Montreal Can has 1.04 million shares for 0.01% of their portfolio.

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 earnings per share, 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 earnings per share 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 rating was upgraded by Nomura on Monday, November 7 to “Buy”. The stock of Platform Specialty Products Corporation (NYSE:PAH) earned “Equal Weight” rating by Barclays Capital on Wednesday, October 5. The firm has “Buy” rating given on Monday, September 18 by SunTrust. The company was maintained on Tuesday, June 13 by Nomura. The firm has “Buy” rating by SunTrust given on Thursday, November 2. Nomura maintained the shares of PAH in report on Tuesday, September 13 with “Neutral” rating. The firm earned “Neutral” rating on Monday, May 2 by Credit Suisse. The company was maintained on Wednesday, October 11 by Barclays Capital. The firm has “Equal-Weight” rating given on Monday, January 30 by Morgan Stanley. Roth Capital maintained the stock with “Buy” rating in Thursday, November 2 report.

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

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