Park Electrochemical Corp. (PKE) Downgraded by Zacks Investment Research to “Sell”
According to Zacks, “Park Electrochemical Corp., through its subsidiaries, is primarily engaged in the design, production and marketing of advanced electronic materials used to fabricate complex multilayer printed circuit boards, semiconductor packages and other electronic interconnection systems. The company’s electronic materials business is operated by its Nelco group of companies. The company is also engaged in the design, production and marketing of specialty adhesive tapes and films, advanced composite materials and microwave circuitry materials for the electronics, aerospace markets. “
Separately, Needham & Company LLC cut their target price on Park Electrochemical Corp. from $21.00 to $18.00 and set a buy rating on the stock in a report on Thursday, June 30th.
Park Electrochemical Corp. (NYSE:PKE) opened at 14.06 on Thursday. The company has a market capitalization of $284.50 million, a P/E ratio of 20.99 and a beta of 1.36. The firm has a 50-day moving average price of $16.20 and a 200-day moving average price of $16.00. Park Electrochemical Corp. has a 1-year low of $13.65 and a 1-year high of $18.01.
Park Electrochemical Corp. (NYSE:PKE) last announced its earnings results on Thursday, October 6th. The company reported $0.10 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.21 by $0.11. The company had revenue of $29.06 million for the quarter. Park Electrochemical Corp. had a return on equity of 7.78% and a net margin of 10.42%. During the same quarter in the previous year, the firm earned $0.23 earnings per share. On average, analysts forecast that Park Electrochemical Corp. will post $0.80 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 1st. Investors of record on Tuesday, October 4th will be paid a $0.10 dividend. The ex-dividend date is Friday, September 30th. This represents a $0.40 annualized dividend and a yield of 2.84%. Park Electrochemical Corp.’s payout ratio is 58.82%.
A number of institutional investors have recently bought and sold shares of PKE. Royce & Associates LP increased its position in Park Electrochemical Corp. by 5.9% in the second quarter. Royce & Associates LP now owns 2,747,934 shares of the company’s stock valued at $39,927,000 after buying an additional 153,600 shares during the last quarter. Renaissance Technologies LLC increased its position in Park Electrochemical Corp. by 17.2% in the first quarter. Renaissance Technologies LLC now owns 860,000 shares of the company’s stock valued at $13,769,000 after buying an additional 126,100 shares during the last quarter. Vanguard Group Inc. increased its position in Park Electrochemical Corp. by 5.3% in the second quarter. Vanguard Group Inc. now owns 1,580,312 shares of the company’s stock valued at $22,963,000 after buying an additional 79,583 shares during the last quarter. Dimensional Fund Advisors LP increased its position in Park Electrochemical Corp. by 3.9% in the second quarter. Dimensional Fund Advisors LP now owns 1,010,342 shares of the company’s stock valued at $14,680,000 after buying an additional 37,940 shares during the last quarter. Finally, Gamco Investors INC. ET AL increased its position in Park Electrochemical Corp. by 3.3% in the second quarter. Gamco Investors INC. ET AL now owns 778,500 shares of the company’s stock valued at $11,312,000 after buying an additional 24,817 shares during the last quarter. Institutional investors and hedge funds own 82.67% of the company’s stock.
About Park Electrochemical Corp.
Park Electrochemical Corp. is a global advanced materials company. The Company develops, manufactures, markets and sells digital and radio frequency (RF)/microwave printed circuit materials products principally for the telecommunications and Internet infrastructure and high-end computing markets and advanced composite materials, parts and assemblies and low-volume tooling products for the aerospace markets.
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