Is Platform Specialty Products Corporation (PAH) a Sell? The Stock Formed Bearish Wedge Down Chart Pattern

December 8, 2017 - By Darrin Black

Investors sentiment is 1.67 in 2017 Q2. Its the same as in 2017Q1. It is the same, 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.
Profund Advsr Ltd holds 0.01% or 11,469 shares in its portfolio. Pacad Limited reported 5,431 shares or 0.01% of all its holdings. Gp One Trading L P holds 146,245 shares. Quantitative Invest Mngmt Limited Liability Company stated it has 419,600 shares. Laurion Cap Limited Partnership has 0.01% invested in Platform Specialty Products Corporation (NYSE:PAH). Glenview Cap Ltd Llc reported 13.20 million shares. Jpmorgan Chase & owns 15,217 shares or 0% of their US portfolio. Frontier Capital Ltd Llc holds 0.05% or 557,024 shares. First Tru Advsrs L P owns 553,237 shares or 0.02% of their US portfolio. 175,936 are owned by American Century Cos. California Pub Employees Retirement Systems has 0.01% invested in Platform Specialty Products Corporation (NYSE:PAH). Tci Wealth holds 77 shares or 0% of its portfolio. Royal Bancorporation Of Canada reported 257,030 shares. Quantbot Tech Ltd Partnership holds 10,228 shares or 0.01% of its portfolio. Parallax Volatility Advisers L P stated it has 0% of its portfolio 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 3.69M 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 $68.92M 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 company was initiated on Monday, January 30 by Morgan Stanley. The firm has “Buy” rating given on Thursday, November 2 by Roth Capital. The stock has “Buy” rating by UBS on Thursday, September 29. The company was maintained on Wednesday, October 11 by Barclays Capital. Bank of America initiated Platform Specialty Products Corporation (NYSE:PAH) on Wednesday, March 9 with “Buy” rating. The firm has “Buy” rating given on Thursday, November 2 by SunTrust. The stock has “Buy” rating by Roth Capital on Monday, August 22. The firm has “Neutral” rating given on Tuesday, September 13 by Nomura. The firm has “Equal-Weight” rating given on Tuesday, August 16 by Barclays Capital. The company was reinitiated on Monday, May 2 by Credit Suisse.

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 Early Tender Results of Cash …” on November 22, 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 Pricing of Senior Notes Offering” with publication date: November 09, 2017.

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