Park Electrochemical Corp. (PKE) Downgraded to “Sell” at Zacks Investment Research
Park Electrochemical Corp. (NYSE:PKE) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Thursday.
According to Zacks, “Park Electrochemical Corp., through its subsidiaries, is primarily engaged in the design, production and marketing of advanced electronic materials used to fabricate complex multilayer printed circuit boards, semiconductor packages and other electronic interconnection systems. The company’s electronic materials business is operated by its Nelco group of companies. The company is also engaged in the design, production and marketing of specialty adhesive tapes and films, advanced composite materials and microwave circuitry materials for the electronics, aerospace markets. “
Separately, Needham & Company LLC dropped their price objective on Park Electrochemical Corp. from $21.00 to $18.00 and set a “buy” rating for the company in a report on Thursday, June 30th.
Park Electrochemical Corp. (NYSE:PKE) opened at 14.45 on Thursday. Park Electrochemical Corp. has a 12-month low of $13.65 and a 12-month high of $18.09. The company has a 50-day moving average price of $16.47 and a 200 day moving average price of $16.04. The company has a market cap of $292.40 million, a PE ratio of 21.57 and a beta of 1.37.
Park Electrochemical Corp. (NYSE:PKE) last announced its quarterly earnings data on Thursday, October 6th. The company reported $0.10 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.21 by $0.11. The company earned $29.06 million during the quarter. Park Electrochemical Corp. had a net margin of 10.42% and a return on equity of 7.78%. During the same period in the previous year, the company earned $0.23 earnings per share. On average, analysts forecast that Park Electrochemical Corp. will post $0.80 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 1st. Stockholders of record on Tuesday, October 4th will be issued a dividend of $0.10 per share. The ex-dividend date is Friday, September 30th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.77%. Park Electrochemical Corp.’s dividend payout ratio (DPR) is currently 58.82%.
Several institutional investors have recently bought and sold shares of PKE. Arizona State Retirement System raised its stake in shares of Park Electrochemical Corp. by 1.9% in the second quarter. Arizona State Retirement System now owns 10,522 shares of the company’s stock worth $153,000 after buying an additional 200 shares in the last quarter. Deere & Co. purchased a new stake in shares of Park Electrochemical Corp. during the second quarter worth $282,000. SECOR Capital Advisors LP raised its stake in shares of Park Electrochemical Corp. by 30.6% in the second quarter. SECOR Capital Advisors LP now owns 19,485 shares of the company’s stock worth $283,000 after buying an additional 4,564 shares in the last quarter. US Bancorp DE raised its stake in shares of Park Electrochemical Corp. by 1.8% in the second quarter. US Bancorp DE now owns 19,480 shares of the company’s stock worth $283,000 after buying an additional 351 shares in the last quarter. Finally, Walthausen & Co. LLC raised its stake in shares of Park Electrochemical Corp. by 49.1% in the second quarter. Walthausen & Co. LLC now owns 24,280 shares of the company’s stock worth $353,000 after buying an additional 8,000 shares in the last quarter. 82.68% of the stock is owned by institutional investors.
Park Electrochemical Corp. Company Profile
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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