Park Aerospace (NYSE:PKE) Rating Lowered to Hold at Wall Street Zen

Park Aerospace (NYSE:PKE) was downgraded by Wall Street Zen from a “buy” rating to a “hold” rating in a research note issued to investors on Saturday.

PKE has been the topic of a number of other research reports. Weiss Ratings cut shares of Park Aerospace from a “buy (b)” rating to a “buy (b-)” rating in a research report on Wednesday, August 12th. Citizens Jmp initiated coverage on shares of Park Aerospace in a report on Tuesday, June 9th. They issued a “market outperform” rating and a $42.00 target price for the company. Needham & Company LLC reaffirmed a “buy” rating and set a $43.00 price target on shares of Park Aerospace in a research note on Tuesday, July 21st. Finally, Citigroup reiterated a “market outperform” rating on shares of Park Aerospace in a report on Tuesday, July 21st. Four equities research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $42.50.

Park Aerospace Stock Performance

Shares of Park Aerospace stock opened at $34.04 on Friday. The stock has a market cap of $740.37 million, a price-to-earnings ratio of 54.03 and a beta of 0.41. The stock has a 50 day moving average price of $35.06 and a 200-day moving average price of $31.86. Park Aerospace has a one year low of $18.10 and a one year high of $39.86.

Park Aerospace (NYSE:PKE) last released its quarterly earnings results on Monday, July 20th. The semiconductor company reported $0.17 earnings per share for the quarter, beating the consensus estimate of $0.14 by $0.03. The company had revenue of $18.31 million for the quarter, compared to analyst estimates of $17.95 million. Park Aerospace had a return on equity of 10.75% and a net margin of 16.70%.

Insider Transactions at Park Aerospace

In other Park Aerospace news, insider Constantine Petropoulos sold 2,500 shares of the company’s stock in a transaction on 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 owned 2,500 shares of the company’s stock, valued at $90,000. This represents a 50.00% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 7.10% of the stock is currently owned by insiders.

Institutional Trading of Park Aerospace

A number of large investors have recently made changes to their positions in the stock. Comerica Bank grew its stake in Park Aerospace by 583.4% in the 4th quarter. Comerica Bank now owns 36,806 shares of the semiconductor company’s stock worth $785,000 after acquiring an additional 31,420 shares in the last quarter. Illumine Investment Management LLC purchased a new position in shares of Park Aerospace during the first quarter worth approximately $1,122,000. Lazard Asset Management LLC bought a new stake in shares of Park Aerospace during the first quarter valued at approximately $2,011,000. State of Wyoming bought a new stake in shares of Park Aerospace during the second quarter valued at approximately $1,083,000. Finally, Y Intercept Hong Kong Ltd purchased a new stake in shares of Park Aerospace in the first quarter valued at approximately $873,000. 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.