Park Aerospace (NYSE:PKE) Sets New 52-Week High – Should You Buy?

Park Aerospace Corp. (NYSE:PKE) hit a new 52-week high during trading on Tuesday . The company traded as high as $38.28 and last traded at $37.8210, with a volume of 42236 shares changing hands. The stock had previously closed at $37.52.

Wall Street Analyst Weigh In

Several brokerages have commented on PKE. Citizens Jmp initiated coverage on shares of Park Aerospace in a research note on Tuesday, June 9th. They set a “market outperform” rating and a $42.00 price objective for the company. Wall Street Zen cut shares of Park Aerospace from a “strong-buy” rating to a “buy” rating in a report on Sunday, June 14th. Weiss Ratings upgraded shares of Park Aerospace from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, June 1st. Finally, Citigroup initiated coverage on Park Aerospace in a research note on Tuesday, June 9th. They set an “outperform” rating for the company. Three research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $42.00.

Park Aerospace Stock Up 0.7%

The company’s 50-day moving average is $33.73 and its 200 day moving average is $28.32. The company has a market cap of $789.26 million, a price-to-earnings ratio of 67.50 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 earnings per share for the quarter, topping analysts’ consensus estimates of $0.16 by $0.03. Park Aerospace had a net margin of 15.38% and a return on equity of 10.08%. The business had revenue of $24.19 million during the quarter, compared to the consensus estimate of $22.31 million.

Park Aerospace Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 3rd. Shareholders of record on Wednesday, July 1st will be given a dividend of $0.125 per share. The ex-dividend date is Wednesday, July 1st. This represents a $0.50 dividend on an annualized basis and a yield of 1.3%. Park Aerospace’s dividend payout ratio is currently 89.29%.

Institutional Trading of Park Aerospace

A number of institutional investors and hedge funds have recently made changes to their positions in the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new position in shares of Park Aerospace during the 4th quarter valued at approximately $25,000. BNP Paribas Financial Markets raised its position in Park Aerospace by 50.0% during the second quarter. BNP Paribas Financial Markets now owns 2,178 shares of the semiconductor company’s stock worth $32,000 after acquiring an additional 726 shares during the period. Jones Financial Companies Lllp purchased a new position in Park Aerospace during the first quarter valued at $52,000. Tower Research Capital LLC TRC grew its position in shares of Park Aerospace by 241.1% in the second quarter. Tower Research Capital LLC TRC now owns 4,278 shares of the semiconductor company’s stock valued at $63,000 after purchasing an additional 3,024 shares during the period. Finally, Fifth Third Bancorp acquired a new stake in shares of Park Aerospace in the first quarter valued at about $64,000. 77.83% of the stock is currently owned by hedge funds and other institutional investors.

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.