BidaskClub Downgrades Park Electrochemical Corporation (NYSE:PKE) to Sell
Park Electrochemical Corporation (NYSE:PKE) was downgraded by equities research analysts at BidaskClub from a “hold” rating to a “sell” rating in a report released on Thursday.
Separately, Zacks Investment Research lowered shares of Park Electrochemical Corporation from a “hold” rating to a “sell” rating in a research report on Tuesday, May 9th.
Park Electrochemical Corporation (NYSE PKE) traded down 0.62% on Thursday, reaching $17.73. 2,897 shares of the company’s stock were exchanged. The firm has a market capitalization of $358.75 million, a price-to-earnings ratio of 46.66 and a beta of 0.83. The stock’s 50 day moving average price is $18.33 and its 200 day moving average price is $18.04. Park Electrochemical Corporation has a 1-year low of $13.76 and a 1-year high of $20.24.
Park Electrochemical Corporation (NYSE:PKE) last announced its earnings results on Wednesday, June 28th. The semiconductor company reported $0.12 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.13 by $0.01. The company had revenue of $27.42 million during the quarter, compared to the consensus estimate of $29 million. Park Electrochemical Corporation had a net margin of 6.99% and a return on equity of 4.92%. During the same quarter in the prior year, the company earned $0.15 EPS. On average, analysts expect that Park Electrochemical Corporation will post $0.64 earnings per share for the current year.
Several institutional investors have recently bought and sold shares of the stock. State Street Corp raised its position in Park Electrochemical Corporation by 6.8% in the fourth quarter. State Street Corp now owns 523,949 shares of the semiconductor company’s stock valued at $9,770,000 after buying an additional 33,139 shares during the period. Chicago Equity Partners LLC acquired a new position in Park Electrochemical Corporation during the first quarter valued at $222,000. Norges Bank acquired a new position in Park Electrochemical Corporation during the fourth quarter valued at $3,738,000. Principal Financial Group Inc. raised its position in Park Electrochemical Corporation by 3.6% in the first quarter. Principal Financial Group Inc. now owns 144,573 shares of the semiconductor company’s stock valued at $2,582,000 after buying an additional 5,083 shares during the period. Finally, Ameriprise Financial Inc. raised its position in Park Electrochemical Corporation by 0.6% in the first quarter. Ameriprise Financial Inc. now owns 181,505 shares of the semiconductor company’s stock valued at $3,242,000 after buying an additional 1,154 shares during the period. Institutional investors own 82.37% of the company’s stock.
About Park Electrochemical Corporation
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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