Park Aerospace (NYSE:PKE) Downgraded by Wall Street Zen to Hold

Key Points

• Wall Street Zen downgraded Park Aerospace from “Buy” to “Hold,” though other analysts remain positive. The stock has an overall “Buy” consensus rating and an average price target of $42.50.
• Park Aerospace reported quarterly earnings of $0.17 per share, exceeding estimates of $0.14, while revenue of $18.31 million also surpassed expectations.
• Shares opened at $34.04, with a market capitalization of approximately $740 million. An insider sold 2,500 shares for $90,000, while institutional investors own 77.83% of the stock.

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

A number of other equities analysts have also weighed in on PKE. Needham & Company LLC reissued a "buy" rating and issued a $43.00 target price on shares of Park Aerospace in a research report on Tuesday, July 21st. Weiss Ratings downgraded shares of Park Aerospace from a "buy (b)" rating to a "buy (b-)" rating in a report on Wednesday, August 12th. Citigroup reiterated a "market outperform" rating on shares of Park Aerospace in a research note on Tuesday, July 21st. Finally, Citizens Jmp began coverage on shares of Park Aerospace in a research note on Tuesday, June 9th. They issued a "market outperform" rating and a $42.00 price target for the company. Four investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock has an average rating of "Buy" and an average target price of $42.50.

Park Aerospace Stock Up 0.4%

Shares of PKE opened at $34.04 on Friday. Park Aerospace has a twelve month low of $18.10 and a twelve month high of $39.86. The company has a market capitalization of $740.37 million, a P/E ratio of 54.03 and a beta of 0.41. The firm has a 50 day moving average of $35.06 and a 200 day moving average of $31.81.

Park Aerospace (NYSE:PKE - Get Free Report) last posted its quarterly earnings results on Monday, July 20th. The semiconductor company reported $0.17 earnings per share for the quarter, topping the consensus estimate of $0.14 by $0.03. Park Aerospace had a return on equity of 10.75% and a net margin of 16.70%.The firm had revenue of $18.31 million during the quarter, compared to analysts' expectations of $17.95 million.

Insider Activity at Park Aerospace

In other news, insider Constantine Petropoulos sold 2,500 shares of the company's stock in a transaction 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 $90,000. This represents a 50.00% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. 7.10% of the stock is owned by company insiders.

Institutional Trading of Park Aerospace

Hedge funds have recently bought and sold shares of the stock. Susquehanna Fundamental Investments LLC increased its position in Park Aerospace by 3.7% in the second quarter. Susquehanna Fundamental Investments LLC now owns 31,459 shares of the semiconductor company's stock worth $1,200,000 after buying an additional 1,128 shares in the last quarter. Corient Private Wealth LP purchased a new position in shares of Park Aerospace during the 2nd quarter valued at about $230,000. Bank of America Corp DE purchased a new position in shares of Park Aerospace during the 2nd quarter valued at about $683,000. Legal & General Group Plc bought a new position in shares of Park Aerospace during the 2nd quarter valued at approximately $179,000. Finally, Group One Trading LLC bought a new position in shares of Park Aerospace during the 2nd quarter valued at approximately $135,000. 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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