Park Aerospace (NYSE:PKE) Lowered to “Hold” Rating by Wall Street Zen

Wall Street Zen downgraded shares of Park Aerospace (NYSE:PKE) from a buy rating to a hold rating in a report issued on Saturday morning.

Several other research analysts have also issued reports on the company. Citigroup reaffirmed a “market outperform” rating on shares of Park Aerospace in a research report on Tuesday, July 21st. Citizens Jmp started coverage on Park Aerospace in a research report on Tuesday, June 9th. They issued a “market outperform” rating and a $42.00 price target on the stock. Weiss Ratings cut Park Aerospace from a “buy (b)” rating to a “buy (b-)” rating in a research note on Wednesday, August 12th. Finally, Needham & Company LLC restated a “buy” rating and set a $43.00 price objective on shares of Park Aerospace in a research report on Tuesday, July 21st. Four analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $42.50.

Park Aerospace Stock Performance

PKE stock opened at $34.04 on Friday. The company has a fifty day moving average price of $35.06 and a 200-day moving average price of $31.81. The company has a market capitalization of $740.37 million, a P/E ratio of 54.03 and a beta of 0.41. Park Aerospace has a 52-week low of $18.10 and a 52-week high of $39.86.

Park Aerospace (NYSE:PKE) last issued its quarterly earnings results on Monday, July 20th. The semiconductor company reported $0.17 EPS for the quarter, topping analysts’ consensus estimates of $0.14 by $0.03. Park Aerospace had a net margin of 16.70% and a return on equity of 10.75%. The company had revenue of $18.31 million for the quarter, compared to analyst estimates of $17.95 million.

Park Aerospace Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 3rd. Stockholders of record on Wednesday, July 1st were given a dividend of $0.125 per share. The ex-dividend date was Wednesday, July 1st. This represents a $0.50 annualized dividend and a dividend yield of 1.5%. Park Aerospace’s dividend payout ratio is 79.37%.

Insiders Place Their Bets

In related news, insider Constantine Petropoulos sold 2,500 shares of Park Aerospace stock in a transaction on Monday, July 27th. The shares were sold at an average price of $36.00, for a total transaction of $90,000.00. Following the completion of the transaction, the insider owned 2,500 shares of the company’s stock, valued at $90,000. This trade represents a 50.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 7.10% of the stock is owned by corporate insiders.

Institutional Trading of Park Aerospace

Institutional investors have recently bought and sold shares of the company. Jones Financial Companies Lllp bought a new position in shares of Park Aerospace in the 1st quarter worth about $52,000. Jane Street Group LLC boosted its position in shares of Park Aerospace by 11.4% during the 1st quarter. Jane Street Group LLC now owns 14,205 shares of the semiconductor company’s stock valued at $191,000 after purchasing an additional 1,456 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Park Aerospace by 1.7% during the 2nd quarter. Geode Capital Management LLC now owns 439,194 shares of the semiconductor company’s stock valued at $6,489,000 after purchasing an additional 7,342 shares in the last quarter. Legal & General Group Plc boosted its position in shares of Park Aerospace by 161.0% during the 2nd quarter. Legal & General Group Plc now owns 4,685 shares of the semiconductor company’s stock valued at $69,000 after purchasing an additional 2,890 shares in the last quarter. Finally, Rhumbline Advisers grew its stake in Park Aerospace by 4.9% during the second quarter. Rhumbline Advisers now owns 30,657 shares of the semiconductor company’s stock worth $453,000 after purchasing an additional 1,421 shares during the period. Institutional investors own 77.83% of the company’s stock.

Park Aerospace Company Profile

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.