Park Aerospace (NYSE:PKE) Shares Cross Above 200 Day Moving Average – What’s Next?

Park Aerospace Corp. (NYSE:PKE)’s stock price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $28.32 and traded as high as $37.61. Park Aerospace shares last traded at $37.4270, with a volume of 533,933 shares trading hands.

Analyst Ratings Changes

Several research analysts have recently issued reports on PKE shares. 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 price objective on the stock. Wall Street Zen lowered Park Aerospace from a “strong-buy” rating to a “buy” rating in a report on Sunday, June 14th. Citigroup began coverage on shares of Park Aerospace in a report on Tuesday, June 9th. They issued an “outperform” rating on the stock. Finally, 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. Three equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $42.00.

Park Aerospace Price Performance

The stock has a 50 day moving average price of $33.80 and a two-hundred day moving average price of $28.45. The company has a market capitalization of $800.48 million, a price-to-earnings ratio of 68.46 and a beta of 0.42.

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

Park Aerospace Dividend Announcement

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

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new position in Park Aerospace during the fourth quarter worth about $25,000. BNP Paribas Financial Markets grew its holdings in Park Aerospace by 50.0% during the second quarter. BNP Paribas Financial Markets now owns 2,178 shares of the semiconductor company’s stock valued at $32,000 after purchasing an additional 726 shares during the period. Fifth Third Bancorp bought a new stake in Park Aerospace in the first quarter valued at approximately $64,000. State of Alaska Department of Revenue acquired a new stake in Park Aerospace in the fourth quarter worth $72,000. Finally, Jones Financial Companies Lllp acquired a new stake in Park Aerospace in the first quarter worth $52,000. 77.83% of the stock is currently owned by 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.