Park Aerospace (NYSE:PKE) Earns Buy Rating from Needham & Company LLC

Park Aerospace (NYSE:PKE)‘s stock had its “buy” rating restated by equities research analysts at Needham & Company LLC in a research report issued on Friday, Benzinga reports. They currently have a $43.00 price objective on the semiconductor company’s stock. Needham & Company LLC’s price objective would suggest a potential upside of 61.41% from the stock’s current price.

Several other equities analysts have also recently issued reports on PKE. Weiss Ratings cut Park Aerospace from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, October 6th. Citigroup restated a “market outperform” rating on shares of Park Aerospace in a report on Tuesday, July 21st. Finally, Wall Street Zen cut Park Aerospace from a “buy” rating to a “hold” rating in a report on Saturday, August 22nd. Three investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $42.50.

Park Aerospace Price Performance

Shares of PKE stock traded down $0.58 during trading hours on Friday, hitting $26.64. 94,377 shares of the company’s stock were exchanged, compared to its average volume of 293,133. The stock’s 50-day moving average is $32.38 and its 200-day moving average is $32.99. The stock has a market cap of $579.42 million, a price-to-earnings ratio of 36.94 and a beta of 0.39. Park Aerospace has a 52 week low of $18.25 and a 52 week high of $39.86.

Park Aerospace (NYSE:PKE) last announced its earnings results on Thursday, October 8th. The semiconductor company reported $0.21 EPS for the quarter, topping the consensus estimate of $0.16 by $0.05. The company had revenue of $20.79 million for 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%.

Insider Buying and Selling at Park Aerospace

In other Park Aerospace news, insider Constantine Petropoulos sold 2,500 shares of the business’s stock in a transaction that occurred on Monday, July 27th. The stock was sold at an average price of $36.00, for a total transaction of $90,000.00. Following the transaction, the insider owned 2,500 shares of the company’s stock, valued at $90,000. The trade was a 50.00% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 7.10% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in PKE. BlackRock Inc. acquired a new position in shares of Park Aerospace during the 2nd quarter worth approximately $55,207,000. Stephens Investment Management Group LLC bought a new stake in shares of Park Aerospace in the first quarter valued at approximately $14,926,000. Next Century Growth Investors LLC lifted its position in shares of Park Aerospace by 93.0% during the 4th quarter. Next Century Growth Investors LLC now owns 526,054 shares of the semiconductor company’s stock valued at $11,226,000 after acquiring an additional 253,508 shares during the period. Bank of New York Mellon Corp bought a new stake in shares of Park Aerospace during the 2nd quarter valued at $7,639,000. Finally, Sei Investments Co. lifted its position in shares of Park Aerospace by 116.2% during the 1st quarter. Sei Investments Co. now owns 263,034 shares of the semiconductor company’s stock valued at $7,202,000 after acquiring an additional 141,359 shares during the period. 77.83% of the stock is owned by institutional investors and hedge funds.

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.