Park Aerospace (NYSE:PKE) Reaches New 12-Month High – Still a Buy?

Shares of Park Aerospace Corp. (NYSE:PKE) hit a new 52-week high on Tuesday . The stock traded as high as $38.28 and last traded at $37.8210, with a volume of 42236 shares changing hands. The stock had previously closed at $37.52.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on PKE shares. Wall Street Zen lowered Park Aerospace from a “strong-buy” rating to a “buy” rating in a research report on Sunday, June 14th. Citizens Jmp began coverage on shares of Park Aerospace in a report on Tuesday, June 9th. They set a “market outperform” rating and a $42.00 target price for the company. 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 assumed coverage on shares of Park Aerospace in a report on Tuesday, June 9th. They set an “outperform” rating on the stock. Three investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $42.00.

Park Aerospace Trading Up 0.5%

The company has a market cap of $800.48 million, a price-to-earnings ratio of 68.46 and a beta of 0.39. The business has a fifty day moving average of $33.88 and a two-hundred day moving average of $28.57.

Park Aerospace (NYSE:PKE) last issued its quarterly earnings data on Thursday, May 28th. The semiconductor company reported $0.19 EPS for the quarter, beating the consensus estimate of $0.16 by $0.03. The company had revenue of $24.19 million for the quarter, compared to analyst estimates 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 declared a quarterly dividend, which will be paid on Monday, August 3rd. Investors of record on Wednesday, July 1st will be paid a $0.125 dividend. The ex-dividend date of this dividend is Wednesday, July 1st. This represents a $0.50 dividend on an annualized basis and a yield of 1.3%. Park Aerospace’s dividend payout ratio (DPR) is currently 89.29%.

Hedge Funds Weigh In On Park Aerospace

Large investors have recently added to or reduced their stakes in the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new stake in shares of Park Aerospace in the fourth quarter valued at about $25,000. BNP Paribas Financial Markets increased its stake in shares of Park Aerospace by 50.0% during the second quarter. BNP Paribas Financial Markets now owns 2,178 shares of the semiconductor company’s stock worth $32,000 after purchasing an additional 726 shares in the last quarter. Jones Financial Companies Lllp acquired a new position in shares of Park Aerospace during the 1st quarter worth about $52,000. Tower Research Capital LLC TRC raised its position in shares of Park Aerospace by 241.1% during the 2nd quarter. Tower Research Capital LLC TRC now owns 4,278 shares of the semiconductor company’s stock worth $63,000 after purchasing an additional 3,024 shares during the last quarter. Finally, Fifth Third Bancorp purchased a new position in Park Aerospace in the 1st quarter valued at about $64,000. 77.83% of the stock is currently owned by institutional investors and hedge funds.

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.