Park Aerospace (NYSE:PKE) Stock Passes Above 200 Day Moving Average – What’s Next?

Park Aerospace Corp. (NYSE:PKE)’s share price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $26.67 and traded as high as $33.03. Park Aerospace shares last traded at $32.3880, with a volume of 203,348 shares trading hands.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on PKE shares. Wall Street Zen upgraded Park Aerospace from a “buy” rating to a “strong-buy” rating in a research note on Saturday. Weiss Ratings upgraded Park Aerospace from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday. One analyst has rated the stock with a Buy rating, According to MarketBeat.com, the company has an average rating of “Buy”.

Park Aerospace Price Performance

The firm has a fifty day simple moving average of $32.56 and a 200 day simple moving average of $26.67. The company has a market capitalization of $676.26 million, a price-to-earnings ratio of 57.84 and a beta of 0.42.

Park Aerospace (NYSE:PKE) last issued its quarterly earnings data on Thursday, May 28th. The semiconductor company reported $0.19 EPS for the quarter, beating the consensus estimate of $0.16 by $0.03. Park Aerospace had a return on equity of 10.08% and a net margin of 15.38%.The company had revenue of $24.19 million for the quarter, compared to analyst estimates of $22.31 million.

Institutional Trading of Park Aerospace

Several institutional investors have recently bought and sold shares of PKE. Jones Financial Companies Lllp acquired a new stake in Park Aerospace in the first quarter valued at approximately $52,000. Jane Street Group LLC grew its holdings in Park Aerospace by 11.4% in the first 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 during the period. Geode Capital Management LLC grew its holdings in Park Aerospace by 1.7% in the second 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 during the period. Legal & General Group Plc lifted its position in shares of Park Aerospace by 161.0% in the second quarter. Legal & General Group Plc now owns 4,685 shares of the semiconductor company’s stock valued at $69,000 after acquiring an additional 2,890 shares in the last quarter. Finally, Rhumbline Advisers lifted its position in shares of Park Aerospace by 4.9% in the second quarter. Rhumbline Advisers now owns 30,657 shares of the semiconductor company’s stock valued at $453,000 after acquiring an additional 1,421 shares in the last quarter. 77.83% of the stock is 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.