Park Aerospace’s (PKE) “Market Outperform” Rating Reiterated at Citizens Jmp

Park Aerospace (NYSE:PKE)‘s stock had its “market outperform” rating reiterated by stock analysts at Citizens Jmp in a research report issued on Friday, Benzinga reports. They presently have a $42.00 price objective on the semiconductor company’s stock. Citizens Jmp’s price target would suggest a potential upside of 57.20% from the company’s previous close.

Several other equities analysts also recently issued reports on the stock. Needham & Company LLC reissued a “buy” rating and set a $43.00 price objective on shares of Park Aerospace in a research note on Friday. Wall Street Zen cut shares of Park Aerospace from a “buy” rating to a “hold” rating in a research note on Saturday, August 22nd. Weiss Ratings downgraded Park Aerospace from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, October 6th. Finally, Citigroup reissued a “market outperform” rating on shares of Park Aerospace in a research note on Tuesday, July 21st. Three equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, Park Aerospace has an average rating of “Moderate Buy” and an average price target of $42.50.

Park Aerospace Stock Performance

Park Aerospace stock traded down $0.50 during midday trading on Friday, reaching $26.72. 136,950 shares of the company were exchanged, compared to its average volume of 293,350. The firm’s 50-day simple moving average is $32.38 and its 200-day simple moving average is $32.99. Park Aerospace has a 1 year low of $18.25 and a 1 year high of $39.86. The company has a market capitalization of $581.12 million, a price-to-earnings ratio of 37.11 and a beta of 0.39.

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

Insider Activity at Park Aerospace

In other news, insider Constantine Petropoulos sold 2,500 shares of the firm’s stock in a transaction dated Monday, July 27th. The stock was sold at an average price of $36.00, for a total value of $90,000.00. Following the transaction, the insider directly owned 2,500 shares in the company, valued at $90,000. This trade represents a 50.00% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 7.10% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of PKE. Squarepoint Ops LLC purchased a new stake in shares of Park Aerospace during the 2nd quarter valued at about $1,801,000. Bank of New York Mellon Corp acquired a new position in Park Aerospace during the 2nd quarter worth approximately $7,639,000. Illumine Investment Management LLC purchased a new position in Park Aerospace in the 1st quarter worth approximately $1,122,000. BlackRock Inc. purchased a new position in Park Aerospace in the 2nd quarter worth approximately $55,207,000. Finally, State of Wyoming acquired a new stake in Park Aerospace in the second quarter valued at approximately $1,083,000. Hedge funds and other institutional investors own 77.83% of the company’s stock.

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.