Park Aerospace (NYSE:PKE) Cut to “Hold” at Wall Street Zen

Wall Street Zen lowered shares of Park Aerospace (NYSE:PKE) from a buy rating to a hold rating in a report issued on Sunday,Wall Street Zen reports.

PKE has been the topic of several other reports. Weiss Ratings lowered Park Aerospace from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, October 6th. Citigroup reiterated a “market outperform” rating on shares of Park Aerospace in a research report on Tuesday, July 21st. Needham & Company LLC reissued a “buy” rating and issued a $43.00 price target on shares of Park Aerospace in a report on Friday, October 9th. Finally, Citizens Jmp restated a “market outperform” rating and issued a $42.00 price objective on shares of Park Aerospace in a research report on Friday, October 9th. Three analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, Park Aerospace presently has an average rating of “Moderate Buy” and a consensus price target of $42.50.

Park Aerospace Trading Down 1.7%

Shares of NYSE PKE opened at $25.72 on Friday. The company has a 50 day simple moving average of $31.06 and a two-hundred day simple moving average of $32.93. The stock has a market cap of $566.63 million, a price-to-earnings ratio of 35.72 and a beta of 0.39. Park Aerospace has a 12 month low of $18.25 and a 12 month high of $39.86.

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

Park Aerospace Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 4th. Stockholders of record on Thursday, October 1st will be paid a dividend of $0.1250 per share. This represents a $0.50 annualized dividend and a dividend yield of 1.9%. The ex-dividend date of this dividend is Thursday, October 1st. Park Aerospace’s dividend payout ratio is presently 69.44%.

Insider Activity at Park Aerospace

In related news, insider Constantine Petropoulos sold 2,500 shares of Park Aerospace 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 completion of the transaction, the insider owned 2,500 shares in the company, valued at $90,000. The trade was a 50.00% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 7.10% of the stock is owned by company insiders.

Hedge Funds Weigh In On Park Aerospace

A number of large investors have recently bought and sold shares of PKE. Hidden Cove Wealth Management LLC lifted its holdings in Park Aerospace by 20.8% during the third quarter. Hidden Cove Wealth Management LLC now owns 30,651 shares of the semiconductor company’s stock valued at $910,000 after purchasing an additional 5,279 shares in the last quarter. State of Alaska Department of Revenue grew its position in shares of Park Aerospace by 28.5% in the third quarter. State of Alaska Department of Revenue now owns 4,374 shares of the semiconductor company’s stock valued at $129,000 after purchasing an additional 969 shares during the period. Ausbil Investment Management Ltd acquired a new stake in shares of Park Aerospace in the third quarter valued at about $224,000. Tidal Investments LLC purchased a new stake in shares of Park Aerospace during the second quarter worth about $270,000. Finally, MCF Advisors LLC increased its stake in shares of Park Aerospace by 42.2% during the second quarter. MCF Advisors LLC now owns 1,226 shares of the semiconductor company’s stock worth $47,000 after purchasing an additional 364 shares in the last quarter. Institutional investors and hedge funds 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.