Park Aerospace (NYSE:PKE) Shares Down 7.4% – What’s Next?

Park Aerospace Corp. (NYSE:PKE)’s share price traded down 7.4% during trading on Friday . The company traded as low as $33.30 and last traded at $33.68. Approximately 61,360 shares changed hands during mid-day trading, a decline of 79% from the average daily volume of 298,119 shares. The stock had previously closed at $36.37.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on PKE shares. Weiss Ratings raised Park Aerospace from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, June 1st. Citizens Jmp initiated coverage on shares of Park Aerospace in a research report on Tuesday, June 9th. They issued a “market outperform” rating and a $42.00 price target for the company. Citigroup started coverage on shares of Park Aerospace in a research note on Tuesday, June 9th. They set an “outperform” rating for the company. Finally, Wall Street Zen downgraded shares of Park Aerospace from a “strong-buy” rating to a “buy” rating in a report on Sunday, June 14th. Three equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $42.00.

Park Aerospace Stock Performance

The firm has a market cap of $701.99 million, a price-to-earnings ratio of 60.05 and a beta of 0.39. The business has a 50 day simple moving average of $34.28 and a 200-day simple moving average of $29.27.

Park Aerospace (NYSE:PKE) last issued its quarterly earnings data on Thursday, May 28th. The semiconductor company reported $0.19 EPS for the quarter, topping analysts’ consensus estimates of $0.16 by $0.03. Park Aerospace had a return on equity of 10.08% and a net margin of 15.38%.The firm had revenue of $24.19 million during the quarter, compared to analyst estimates of $22.31 million.

Park Aerospace Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, August 3rd. Investors of record on Wednesday, July 1st will be given a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date of this dividend is Wednesday, July 1st. Park Aerospace’s dividend payout ratio is presently 89.29%.

Hedge Funds Weigh In On Park Aerospace

A number of hedge funds have recently bought and sold shares of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new stake in shares of Park Aerospace in the 4th quarter worth $25,000. BNP Paribas Financial Markets lifted its position in shares of Park Aerospace by 50.0% during the second quarter. BNP Paribas Financial Markets now owns 2,178 shares of the semiconductor company’s stock valued at $32,000 after purchasing an additional 726 shares in the last quarter. Jones Financial Companies Lllp purchased a new position in Park Aerospace during the first quarter worth about $52,000. Tower Research Capital LLC TRC boosted its holdings in Park Aerospace by 241.1% during the second quarter. Tower Research Capital LLC TRC now owns 4,278 shares of the semiconductor company’s stock worth $63,000 after purchasing an additional 3,024 shares during the last quarter. Finally, Fifth Third Bancorp bought a new stake in Park Aerospace in the 1st quarter worth about $64,000. 77.83% of the stock is owned by hedge funds and other institutional investors.

Park Aerospace Company Profile

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.