Park Aerospace Corp. (NYSE:PKE) Stock Has Average Price Target of $42.50

Key Points

• Analyst sentiment is strongly positive: all five brokerages covering Park Aerospace rate it a “Buy,” with an average 12-month price target of $42.50 versus the stock’s recent price of $25.75.
• Park Aerospace exceeded quarterly expectations, reporting $0.21 in EPS versus the $0.16 consensus estimate and revenue of $20.79 million, above expectations of $20.01 million.
• The company announced a quarterly dividend of $0.125 per share, equal to $0.50 annually and a 1.9% yield; institutional investors and hedge funds own 77.83% of outstanding shares.

Park Aerospace Corp. (NYSE:PKE - Get Free Report) has received a consensus recommendation of "Buy" from the five brokerages that are currently covering the stock, Marketbeat Ratings reports. Five research analysts have rated the stock with a buy rating. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $42.50.

A number of brokerages recently commented on PKE. Weiss Ratings upgraded Park Aerospace from a "hold (c+)" rating to a "buy (b)" rating in a report on Wednesday, October 21st. Needham & Company LLC reissued a "buy" rating and issued a $43.00 price objective on shares of Park Aerospace in a research note on Friday, October 9th. Citigroup reaffirmed a "market outperform" rating on shares of Park Aerospace in a report on Monday, October 19th. Citizens Jmp restated a "market outperform" rating and set a $42.00 target price on shares of Park Aerospace in a research report on Friday, October 9th. Finally, The Goldman Sachs Group raised shares of Park Aerospace to a "buy" rating in a research report on Monday.

Park Aerospace Price Performance

NYSE:PKE opened at $25.75 on Monday. Park Aerospace has a 1-year low of $18.25 and a 1-year high of $39.86. The firm has a market cap of $567.27 million, a PE ratio of 35.76 and a beta of 0.46. The firm has a 50 day simple moving average of $29.45 and a 200-day simple moving average of $30.75.

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

Park Aerospace Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 4th. Stockholders of record on Thursday, October 1st will be issued a dividend of $0.1250 per share. The ex-dividend date of this dividend is Thursday, October 1st. This represents a $0.50 dividend on an annualized basis and a dividend yield of 1.9%. Park Aerospace's payout ratio is 69.44%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in PKE. Squarepoint Ops LLC bought a new stake in shares of Park Aerospace during the 2nd quarter valued at $1,801,000. Bank of New York Mellon Corp bought a new position in Park Aerospace in the second quarter worth about $7,639,000. Illumine Investment Management LLC bought a new stake in shares of Park Aerospace during the 1st quarter valued at $1,122,000. BlackRock Inc. purchased a new position in shares of Park Aerospace during the second quarter valued at approximately $55,207,000. Finally, State of Wyoming purchased a new position in shares of Park Aerospace in the second quarter worth $1,083,000. 77.83% of the stock is owned by institutional investors and hedge funds.

About Park Aerospace

Park Aerospace Corp. NYSE: PKE develops and manufactures advanced composite materials and composite structures primarily for the aerospace industry. Its products are used in commercial aircraft, military aircraft, unmanned aerial vehicles, and other demanding aerospace applications where lightweight construction, strength, and durability are important.

The company's offerings include carbon-fiber and other composite prepregs, specialized reinforcement materials, honeycomb core materials, film adhesives, and related composite-material systems.

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