Park Aerospace (NYSE:PKE) Shares Gap Down - Should You Sell?

Key Points

• Park Aerospace shares opened lower, falling from a previous close of $30.42 to $29.40 before trading around $30.29.
• Analyst sentiment remains broadly positive: the stock has a consensus “Buy” rating and an average price target of $42.50, despite one downgrade to “Hold.”
• The company exceeded quarterly earnings expectations, reporting $0.17 in EPS and $18.31 million in revenue, and declared a quarterly dividend of $0.125 per share, yielding about 1.7% annually.

Park Aerospace Corp. (NYSE:PKE - Get Free Report)'s stock price gapped down prior to trading on Tuesday. The stock had previously closed at $30.42, but opened at $29.40. Park Aerospace shares last traded at $30.2850, with a volume of 8,843 shares trading hands.

Analysts Set New Price Targets

PKE has been the subject of a number of recent research reports. Needham & Company LLC reiterated a "buy" rating and issued a $43.00 target price on shares of Park Aerospace in a report on Tuesday, July 21st. Wall Street Zen downgraded Park Aerospace from a "buy" rating to a "hold" rating in a research report on Saturday, August 22nd. Citizens Jmp began coverage on shares of Park Aerospace in a research note on Tuesday, June 9th. They set a "market outperform" rating and a $42.00 price objective for the company. Citigroup reaffirmed a "market outperform" rating on shares of Park Aerospace in a research note on Tuesday, July 21st. Finally, Weiss Ratings downgraded shares of Park Aerospace from a "buy (b)" rating to a "buy (b-)" rating in a research note on Friday, September 11th. Four analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company presently has a consensus rating of "Buy" and an average target price of $42.50.

Park Aerospace Stock Performance

The firm has a market capitalization of $654.60 million, a price-to-earnings ratio of 47.79 and a beta of 0.39. The stock's fifty day moving average is $32.93 and its two-hundred day moving average is $32.95.

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

Park Aerospace Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 4th. Investors of record on Thursday, October 1st will be issued a $0.1250 dividend. This represents a $0.50 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date is Thursday, October 1st. Park Aerospace's payout ratio is presently 79.37%.

Insider Buying and Selling

In other news, insider Constantine Petropoulos sold 2,500 shares of the business's stock in a transaction on Monday, July 27th. The shares were sold at an average price of $36.00, for a total value of $90,000.00. Following the transaction, the insider owned 2,500 shares of the company's stock, valued at approximately $90,000. The trade was a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 7.10% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Tidal Investments LLC purchased a new stake in Park Aerospace in the second quarter valued at approximately $270,000. MCF Advisors LLC lifted its stake in Park Aerospace by 42.2% during the 2nd quarter. MCF Advisors LLC now owns 1,226 shares of the semiconductor company's stock valued at $47,000 after acquiring an additional 364 shares during the period. Squarepoint Ops LLC purchased a new stake in shares of Park Aerospace in the 2nd quarter valued at $1,801,000. Corient Private Wealth LP acquired a new stake in shares of Park Aerospace in the second quarter worth $230,000. Finally, Susquehanna Fundamental Investments LLC raised its holdings in shares of Park Aerospace by 3.7% during the second quarter. Susquehanna Fundamental Investments LLC now owns 31,459 shares of the semiconductor company's stock worth $1,200,000 after purchasing an additional 1,128 shares during the last quarter. 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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