Park Aerospace (NYSE:PKE) Reaches New 1-Year High – Here’s What Happened

Park Aerospace Corp. (NYSE:PKE) shares reached a new 52-week high during trading on Monday . The stock traded as high as $39.86 and last traded at $37.7210, with a volume of 274380 shares traded. The stock had previously closed at $37.83.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. Weiss Ratings upgraded Park Aerospace from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday, June 1st. Wall Street Zen downgraded shares of Park Aerospace from a “strong-buy” rating to a “buy” rating in a report on Sunday, June 14th. Citigroup initiated coverage on shares of Park Aerospace in a research report on Tuesday, June 9th. They set an “outperform” rating for the company. Finally, Citizens Jmp began coverage on shares of Park Aerospace in a report on Tuesday, June 9th. They issued a “market outperform” rating and a $42.00 price target on the stock. Three analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $42.00.

Park Aerospace Stock Performance

The firm has a fifty day moving average price of $34.01 and a 200 day moving average price of $28.81. The stock has a market cap of $802.23 million, a PE ratio of 67.50 and a beta of 0.39.

Park Aerospace (NYSE:PKE) last posted its quarterly earnings data on Thursday, May 28th. The semiconductor company reported $0.19 earnings per share for the quarter, topping analysts’ consensus estimates of $0.16 by $0.03. Park Aerospace had a return on equity of 10.08% and a net margin of 15.38%.The firm had revenue of $24.19 million during the quarter, compared to analysts’ expectations of $22.31 million.

Park Aerospace Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 3rd. Stockholders of record on Wednesday, July 1st will be paid a dividend of $0.125 per share. The ex-dividend date is Wednesday, July 1st. This represents a $0.50 dividend on an annualized basis and a dividend yield of 1.3%. Park Aerospace’s payout ratio is presently 89.29%.

Institutional Trading of Park Aerospace

Institutional investors have recently bought and sold shares of the stock. Bank of America Corp DE increased its stake in Park Aerospace by 128.0% during the 1st quarter. Bank of America Corp DE now owns 45,047 shares of the semiconductor company’s stock valued at $1,233,000 after purchasing an additional 25,288 shares in the last quarter. Parvin Asset Management LLC lifted its stake in shares of Park Aerospace by 11.4% during the first quarter. Parvin Asset Management LLC now owns 4,875 shares of the semiconductor company’s stock worth $133,000 after buying an additional 500 shares during the period. Royal Bank of Canada grew its holdings in shares of Park Aerospace by 24.3% during the first quarter. Royal Bank of Canada now owns 31,575 shares of the semiconductor company’s stock valued at $864,000 after buying an additional 6,174 shares during the last quarter. Quantinno Capital Management LP grew its holdings in shares of Park Aerospace by 31.1% during the first quarter. Quantinno Capital Management LP now owns 64,413 shares of the semiconductor company’s stock valued at $1,764,000 after buying an additional 15,292 shares during the last quarter. Finally, Lazard Asset Management LLC acquired a new position in shares of Park Aerospace in the 1st quarter valued at $2,011,000. 77.83% of the stock is currently owned by institutional investors and hedge funds.

About Park Aerospace

Park Aerospace (NYSE: PKE) is a specialized materials and manufacturing company that designs, develops and produces high-performance composite structures, engineered laminates and specialty adhesives for aerospace, defense and industrial markets. Its product portfolio includes advanced honeycomb cores, composite assemblies, dielectric and high-reliability circuit materials, as well as structural and bonding solutions that meet demanding performance and weight requirements.

The company operates through two principal segments.