Park Aerospace (NYSE:PKE) Shares Gap Up – Still a Buy?

Park Aerospace Corp. (NYSE:PKE) gapped up before the market opened on Tuesday . The stock had previously closed at $28.51, but opened at $29.19. Park Aerospace shares last traded at $28.0850, with a volume of 73,590 shares.

Analyst Upgrades and Downgrades

PKE has been the topic of several research analyst reports. Wall Street Zen raised Park Aerospace from a “hold” rating to a “buy” rating in a research report on Saturday, January 17th. Weiss Ratings downgraded shares of Park Aerospace from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday, February 23rd. One equities research analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, Park Aerospace has a consensus rating of “Hold”.

Park Aerospace Price Performance

The business’s 50-day moving average price is $24.37 and its 200-day moving average price is $21.23. The firm has a market capitalization of $584.15 million, a PE ratio of 68.16 and a beta of 0.29.

Park Aerospace (NYSE:PKE) last issued its quarterly earnings results on Tuesday, January 13th. The semiconductor company reported $0.15 earnings per share for the quarter. Park Aerospace had a net margin of 13.14% and a return on equity of 9.28%. The firm had revenue of $17.33 million during the quarter.

Park Aerospace Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 4th. Investors of record on Friday, January 2nd were issued a dividend of $0.125 per share. The ex-dividend date of this dividend was Friday, January 2nd. This represents a $0.50 dividend on an annualized basis and a dividend yield of 1.7%. Park Aerospace’s dividend payout ratio (DPR) is currently 116.28%.

Hedge Funds Weigh In On Park Aerospace

A number of large investors have recently bought and sold shares of the company. Essex Investment Management Co. LLC purchased a new stake in shares of Park Aerospace in the third quarter valued at approximately $3,060,000. Huntleigh Advisors Inc. purchased a new position in Park Aerospace in the third quarter worth $1,126,000. New York State Common Retirement Fund lifted its holdings in Park Aerospace by 1,914.8% in the third quarter. New York State Common Retirement Fund now owns 101,887 shares of the semiconductor company’s stock valued at $2,072,000 after acquiring an additional 96,830 shares during the period. Palisades Investment Partners LLC purchased a new stake in shares of Park Aerospace during the 3rd quarter worth $5,904,000. Finally, ARS Investment Partners LLC acquired a new position in shares of Park Aerospace during the 2nd quarter worth $182,000. 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.