Park Aerospace (NYSE:PKE) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Park Aerospace (NYSE:PKE) from a hold rating to a buy rating in a research report report published on Saturday morning,Wall Street Zen reports.

Other equities research analysts have also recently issued reports about the company. Needham & Company LLC reissued a “buy” rating and issued a $43.00 target price on shares of Park Aerospace in a research note on Friday. Citigroup restated a “market outperform” rating on shares of Park Aerospace in a report on Tuesday, July 21st. Weiss Ratings lowered Park Aerospace from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday, October 6th. Finally, Citizens Jmp reaffirmed a “market outperform” rating and issued a $42.00 price target on shares of Park Aerospace in a research report on Friday. Three research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $42.50.

Park Aerospace Stock Up 3.3%

Park Aerospace stock opened at $27.24 on Friday. The company has a market capitalization of $592.47 million, a P/E ratio of 37.83 and a beta of 0.39. The stock’s 50 day moving average is $32.38 and its 200 day moving average is $32.99. Park Aerospace has a twelve month low of $18.25 and a twelve month high of $39.86.

Park Aerospace (NYSE:PKE) last posted its quarterly earnings data on Thursday, October 8th. The semiconductor company reported $0.21 earnings per share for the quarter, beating analysts’ consensus estimates of $0.16 by $0.05. Park Aerospace had a return on equity of 11.21% and a net margin of 18.42%. The company had revenue of $20.79 million during the quarter, compared to analyst estimates of $20.01 million.

Park Aerospace Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 4th. Shareholders of record on Thursday, October 1st will be paid a dividend of $0.1250 per share. This represents a $0.50 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date is Thursday, October 1st. Park Aerospace’s payout ratio is currently 69.44%.

Insider Activity at Park Aerospace

In other news, insider Constantine Petropoulos sold 2,500 shares of the stock in a transaction that occurred on Monday, July 27th. The shares were sold at an average price of $36.00, for a total value of $90,000.00. Following the transaction, the insider owned 2,500 shares in the company, valued at $90,000. This represents a 50.00% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 7.10% of the stock is owned by insiders.

Institutional Trading of Park Aerospace

Several large investors have recently added to or reduced their stakes in the business. BlackRock Inc. bought a new stake in Park Aerospace during the 2nd quarter valued at approximately $55,207,000. Stephens Investment Management Group LLC purchased a new position in Park Aerospace in the 1st quarter worth approximately $14,926,000. Next Century Growth Investors LLC lifted its holdings in Park Aerospace by 93.0% in the 4th quarter. Next Century Growth Investors LLC now owns 526,054 shares of the semiconductor company’s stock worth $11,226,000 after purchasing an additional 253,508 shares in the last quarter. Bank of New York Mellon Corp purchased a new position in Park Aerospace in the 2nd quarter worth approximately $7,639,000. Finally, Sei Investments Co. boosted its stake in Park Aerospace by 116.2% in the 1st quarter. Sei Investments Co. now owns 263,034 shares of the semiconductor company’s stock worth $7,202,000 after purchasing an additional 141,359 shares during the period. 77.83% of the stock is currently owned by institutional investors.

Park Aerospace Company Profile

Park Aerospace Corp. (NYSE:PKE) is an aerospace manufacturing company that develops and produces advanced composite materials and composite structures. Its products are used in the manufacture of aircraft and other aerospace systems, where lightweight, high-strength materials are important for performance and fuel efficiency.

The company’s offerings include carbon fiber and other composite materials, prepregs, film adhesives, honeycomb and other core materials, and fabricated composite parts.