Park Aerospace (NYSE:PKE) Reaches New 1-Year High – Here’s What Happened

Park Aerospace Corp. (NYSE:PKE) shares hit a new 52-week high during trading on Monday . The company traded as high as $39.86 and last traded at $37.7210, with a volume of 274380 shares traded. The stock had previously closed at $37.83.

Analyst Upgrades and Downgrades

PKE has been the topic of a number of recent research reports. Citizens Jmp initiated coverage on Park Aerospace in a research report on Tuesday, June 9th. They issued a “market outperform” rating and a $42.00 target price on the stock. Wall Street Zen lowered shares of Park Aerospace from a “strong-buy” rating to a “buy” rating in a research report on Sunday, June 14th. Weiss Ratings upgraded shares of Park Aerospace from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday, June 1st. Finally, Citigroup began coverage on shares of Park Aerospace in a report on Tuesday, June 9th. They issued an “outperform” rating on the stock. Three research analysts have rated the stock with a Buy rating, According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $42.00.

Park Aerospace Trading Up 1.6%

The firm has a market cap of $802.23 million, a price-to-earnings ratio of 67.50 and a beta of 0.39. The company has a fifty day moving average price of $34.01 and a 200-day moving average price of $28.81.

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

Park Aerospace Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 3rd. Shareholders of record on Wednesday, July 1st will be given a $0.125 dividend. This represents a $0.50 annualized dividend and a yield of 1.3%. The ex-dividend date is Wednesday, July 1st. Park Aerospace’s dividend payout ratio is currently 89.29%.

Hedge Funds Weigh In On Park Aerospace

Several institutional investors have recently made changes to their positions in PKE. Bank of America Corp DE increased its holdings in shares of Park Aerospace by 128.0% during the 1st quarter. Bank of America Corp DE now owns 45,047 shares of the semiconductor company’s stock valued at $1,233,000 after purchasing an additional 25,288 shares in the last quarter. Parvin Asset Management LLC boosted its holdings in Park Aerospace by 11.4% during the first quarter. Parvin Asset Management LLC now owns 4,875 shares of the semiconductor company’s stock worth $133,000 after buying an additional 500 shares in the last quarter. Royal Bank of Canada boosted its holdings in Park Aerospace by 24.3% during the first quarter. Royal Bank of Canada now owns 31,575 shares of the semiconductor company’s stock worth $864,000 after buying an additional 6,174 shares in the last quarter. Quantinno Capital Management LP grew its position in Park Aerospace by 31.1% during the first quarter. Quantinno Capital Management LP now owns 64,413 shares of the semiconductor company’s stock valued at $1,764,000 after buying an additional 15,292 shares during the period. Finally, Lazard Asset Management LLC acquired a new stake in Park Aerospace during the first quarter valued at $2,011,000. 77.83% of the stock is owned by hedge funds and other institutional investors.

About Park Aerospace

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.