Needham & Company LLC Reiterates Buy Rating for Park Aerospace (NYSE:PKE)

Key Points

• Needham & Company LLC reaffirmed a Buy rating on Park Aerospace and kept its $43 price target, implying about 32% upside from the current share price.
• Park Aerospace also has a generally positive analyst backdrop, with four Buy ratings and a consensus price target of $42.50.
• The company reported better-than-expected quarterly earnings, posting $0.17 EPS versus $0.14 expected and revenue of $18.31 million versus $17.95 million estimated.

Park Aerospace (NYSE:PKE - Get Free Report)'s stock had its "buy" rating reaffirmed by equities research analysts at Needham & Company LLC in a note issued to investors on Tuesday,Benzinga reports. They currently have a $43.00 price target on the semiconductor company's stock. Needham & Company LLC's target price points to a potential upside of 32.24% from the company's current price.

Several other brokerages have also issued reports on PKE. Citizens Jmp started coverage on shares of Park Aerospace in a research report on Tuesday, June 9th. They set a "market outperform" rating and a $42.00 target price for the company. Citigroup reissued a "market outperform" rating on shares of Park Aerospace in a report on Tuesday. Weiss Ratings raised shares of Park Aerospace from a "buy (b-)" rating to a "buy (b)" rating in a report on Monday, June 1st. Finally, 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. Four equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus price target of $42.50.

Park Aerospace Stock Up 0.2%

NYSE PKE opened at $32.52 on Tuesday. The firm has a market cap of $678.93 million, a P/E ratio of 58.06 and a beta of 0.39. The company's 50 day moving average is $34.18 and its 200-day moving average is $29.84. Park Aerospace has a 12-month low of $17.25 and a 12-month high of $39.86.

Park Aerospace (NYSE:PKE - Get Free Report) last issued its quarterly earnings data on Monday, July 20th. The semiconductor company reported $0.17 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.14 by $0.03. Park Aerospace had a return on equity of 10.08% and a net margin of 15.38%.The business had revenue of $18.31 million for the quarter, compared to analysts' expectations of $17.95 million.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of PKE. Stephens Investment Management Group LLC purchased a new stake in Park Aerospace during the 1st quarter valued at $14,926,000. Next Century Growth Investors LLC increased its position in shares of Park Aerospace by 93.0% in the fourth quarter. Next Century Growth Investors LLC now owns 526,054 shares of the semiconductor company's stock valued at $11,226,000 after acquiring an additional 253,508 shares during the period. Sei Investments Co. increased its position in shares of Park Aerospace by 116.2% in the first quarter. Sei Investments Co. now owns 263,034 shares of the semiconductor company's stock valued at $7,202,000 after acquiring an additional 141,359 shares during the period. Brandes Investment Partners LP raised its stake in shares of Park Aerospace by 3.5% during the fourth quarter. Brandes Investment Partners LP now owns 3,191,411 shares of the semiconductor company's stock valued at $68,105,000 after acquiring an additional 107,231 shares during the last quarter. Finally, Goldman Sachs Group Inc. boosted its holdings in shares of Park Aerospace by 257.2% during the fourth quarter. Goldman Sachs Group Inc. now owns 112,272 shares of the semiconductor company's stock worth $2,396,000 after purchasing an additional 80,841 shares during the period. Hedge funds and other institutional investors own 77.83% of the company's stock.

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.

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