Park Aerospace (NYSE:PKE) Downgraded by Wall Street Zen to Hold

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

A number of other equities research analysts also recently issued reports on PKE. Weiss Ratings downgraded shares of Park Aerospace from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, October 6th. Needham & Company LLC reaffirmed a “buy” rating and set a $43.00 price target on shares of Park Aerospace in a research note on Friday, October 9th. Citigroup reaffirmed a “market outperform” rating on shares of Park Aerospace in a research note on Tuesday, July 21st. Finally, Citizens Jmp reiterated a “market outperform” rating and issued a $42.00 price target on shares of Park Aerospace in a report on Friday, October 9th. Three investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $42.50.

Park Aerospace Trading Down 0.1%

Shares of NYSE:PKE opened at $26.28 on Friday. The stock’s 50-day moving average price is $31.50 and its two-hundred day moving average price is $32.96. Park Aerospace has a 12-month low of $18.25 and a 12-month high of $39.86. The firm has a market cap of $578.86 million, a price-to-earnings ratio of 36.49 and a beta of 0.39.

Park Aerospace (NYSE:PKE) last posted its quarterly earnings results on Thursday, October 8th. The semiconductor company reported $0.21 EPS for the quarter, beating the consensus estimate of $0.16 by $0.05. The company had revenue of $20.79 million during the quarter, compared to analysts’ expectations of $20.01 million. Park Aerospace had a return on equity of 11.21% and a net margin of 18.42%.

Park Aerospace Announces Dividend

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

Insider Buying and Selling

In other news, insider Constantine Petropoulos sold 2,500 shares of the firm’s 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 transaction, the insider directly owned 2,500 shares in the company, valued at $90,000. This trade represents a 50.00% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 7.10% of the stock is owned by corporate insiders.

Institutional Trading of Park Aerospace

Institutional investors have recently modified their holdings of the company. BlackRock Inc. purchased a new position in Park Aerospace in the second quarter valued at approximately $55,207,000. Renaissance Technologies LLC lifted its position in Park Aerospace by 2.3% during the first quarter. Renaissance Technologies LLC now owns 859,097 shares of the semiconductor company’s stock valued at $23,522,000 after buying an additional 19,057 shares in the last quarter. Stephens Investment Management Group LLC purchased a new stake in Park Aerospace during the first quarter worth approximately $14,926,000. Bank of New York Mellon Corp purchased a new stake in Park Aerospace during the second quarter worth approximately $7,639,000. Finally, Sei Investments Co. grew its stake in Park Aerospace by 116.2% during the first quarter. Sei Investments Co. now owns 263,034 shares of the semiconductor company’s stock worth $7,202,000 after buying an additional 141,359 shares during the period. Hedge funds and other institutional investors own 77.83% of the company’s stock.

About Park Aerospace

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.