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

Key Points

• Wall Street Zen downgraded Park Aerospace from “Buy” to “Hold,” while other analysts remain generally positive. The stock has an average “Moderate Buy” rating and a consensus price target of $42.50.
• Park Aerospace reported quarterly EPS of $0.21, beating the $0.16 analyst consensus, while revenue of $20.79 million exceeded expectations of $20.01 million.
• PKE opened at $26.28, below its 50-day and 200-day moving averages of $31.50 and $32.91, respectively; the company has a market capitalization of approximately $578.9 million.

Park Aerospace (NYSE:PKE - Get Free Report) was downgraded by Wall Street Zen from a "buy" rating to a "hold" rating in a research report issued to clients and investors on Sunday, Wall Street Zen reports.

Several other research firms also recently issued reports on PKE. Needham & Company LLC restated a "buy" rating and issued a $43.00 price target on shares of Park Aerospace in a research note on Friday, October 9th. Citizens Jmp reaffirmed a "market outperform" rating and issued a $42.00 price objective on shares of Park Aerospace in a report on Friday, October 9th. Weiss Ratings cut Park Aerospace from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Tuesday, October 6th. Finally, Citigroup reissued a "market outperform" rating on shares of Park Aerospace in a report on Tuesday, July 21st. Three research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $42.50.

Park Aerospace Trading Up 0.0%

PKE stock opened at $26.28 on Friday. The firm has a market cap of $578.86 million, a PE ratio of 36.49 and a beta of 0.39. Park Aerospace has a 1-year low of $18.25 and a 1-year high of $39.86. The business's 50-day moving average price is $31.50 and its two-hundred day moving average price is $32.91.

Park Aerospace (NYSE:PKE - Get Free Report) last issued its quarterly earnings data on Thursday, October 8th. The semiconductor company reported $0.21 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.16 by $0.05. Park Aerospace had a return on equity of 11.21% and a net margin of 18.42%. The company had revenue of $20.79 million during the quarter, compared to analysts' expectations of $20.01 million.

Insider Buying and Selling at Park Aerospace

In related 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 value of $90,000.00. Following the completion of the sale, the insider directly owned 2,500 shares in the company, valued at approximately $90,000. The trade was a 50.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 7.10% of the company's stock.

Hedge Funds Weigh In On Park Aerospace

A number of hedge funds have recently added to or reduced their stakes in PKE. State of Alaska Department of Revenue lifted its position in shares of Park Aerospace by 28.5% during the 3rd quarter. State of Alaska Department of Revenue now owns 4,374 shares of the semiconductor company's stock valued at $129,000 after acquiring an additional 969 shares during the period. Ausbil Investment Management Ltd bought a new position in shares of Park Aerospace in the third quarter worth $224,000. Tidal Investments LLC bought a new position in shares of Park Aerospace in the second quarter worth $270,000. MCF Advisors LLC increased its position in shares of Park Aerospace by 42.2% in the second quarter. MCF Advisors LLC now owns 1,226 shares of the semiconductor company's stock worth $47,000 after purchasing an additional 364 shares during the period. Finally, Squarepoint Ops LLC acquired a new position in Park Aerospace in the second quarter valued at about $1,801,000. Institutional investors own 77.83% of the company's stock.

Park Aerospace Company Profile

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.

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