Park Aerospace (NYSE:PKE) Hits New 12-Month High - Still a Buy?

Key Points

• Park Aerospace hit a new 52-week high, trading as high as $32.00 (last $31.8930) amid a roughly 2.4% intraday gain, and Wall Street analysts have recently upgraded the stock to a consensus Buy (including a "strong-buy" from Wall Street Zen and a "buy" from Weiss Ratings).
• On fundamentals, the company has a market cap of about $635.6M and a PE of 74.17; last quarter it reported $0.15 EPS on $17.33M revenue, with a 9.28% ROE and a 13.14% net margin.
• Park Aerospace declared a quarterly dividend of $0.125 (annualized $0.50, ~1.6% yield) but the payout ratio is very high at 116.28%, and institutional investors own roughly 77.8% of the float with several funds recently increasing positions.

Park Aerospace Corp. (NYSE:PKE - Get Free Report)'s stock price hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $32.00 and last traded at $31.8930, with a volume of 102041 shares changing hands. The stock had previously closed at $31.16.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on PKE. Wall Street Zen raised Park Aerospace from a "buy" rating to a "strong-buy" rating in a research report on Saturday, March 21st. Weiss Ratings raised Park Aerospace from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Wednesday, March 11th. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, Park Aerospace currently has a consensus rating of "Buy".

Park Aerospace Stock Up 2.4%

The company has a 50-day simple moving average of $26.86 and a two-hundred day simple moving average of $22.98. The firm has a market cap of $635.63 million, a PE ratio of 74.17 and a beta of 0.29.

Park Aerospace (NYSE:PKE - Get Free Report) last posted its quarterly earnings data on Tuesday, January 13th. The semiconductor company reported $0.15 earnings per share for the quarter. Park Aerospace had a return on equity of 9.28% and a net margin of 13.14%.The business had revenue of $17.33 million for the quarter.

Park Aerospace Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, May 4th. Shareholders of record on Thursday, April 2nd will be given a $0.125 dividend. The ex-dividend date of this dividend is Thursday, April 2nd. This represents a $0.50 annualized dividend and a yield of 1.6%. Park Aerospace's payout ratio is currently 116.28%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Millennium Management LLC boosted its position in Park Aerospace by 64.4% in the fourth quarter. Millennium Management LLC now owns 110,831 shares of the semiconductor company's stock worth $2,365,000 after purchasing an additional 43,415 shares during the last quarter. AQR Capital Management LLC raised its stake in shares of Park Aerospace by 51.7% in the fourth quarter. AQR Capital Management LLC now owns 18,762 shares of the semiconductor company's stock valued at $400,000 after buying an additional 6,391 shares during the period. Trexquant Investment LP bought a new stake in shares of Park Aerospace in the fourth quarter valued at $559,000. Price T Rowe Associates Inc. MD raised its stake in shares of Park Aerospace by 11.4% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 51,238 shares of the semiconductor company's stock valued at $1,094,000 after buying an additional 5,237 shares during the period. Finally, &PARTNERS raised its stake in shares of Park Aerospace by 5.8% in the fourth quarter. &PARTNERS now owns 21,623 shares of the semiconductor company's stock valued at $461,000 after buying an additional 1,194 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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