Park Aerospace (NYSE:PKE) Reaches New 52-Week High – Time to Buy?

Park Aerospace Corp. (NYSE:PKE)’s share price hit a new 52-week high during mid-day trading on Monday . The company traded as high as $39.86 and last traded at $37.7210, with a volume of 274380 shares. The stock had previously closed at $37.83.

Wall Street Analyst Weigh In

Several research firms have recently commented on PKE. Wall Street Zen downgraded Park Aerospace from a “strong-buy” rating to a “buy” rating in a report on Sunday, June 14th. Weiss Ratings raised shares of Park Aerospace from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, June 1st. 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 target price for the company. Finally, Citigroup initiated coverage on Park Aerospace in a report on Tuesday, June 9th. They set an “outperform” rating for the company. Three equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Park Aerospace presently has a consensus rating of “Buy” and a consensus price target of $42.00.

Park Aerospace Price Performance

The company’s 50-day moving average price is $34.18 and its two-hundred day moving average price is $29.05. The company has a market capitalization of $769.95 million, a P/E ratio of 65.85 and a beta of 0.39.

Park Aerospace (NYSE:PKE) last announced its quarterly earnings results on Thursday, May 28th. The semiconductor company reported $0.19 EPS for the quarter, beating analysts’ consensus estimates of $0.16 by $0.03. The business had revenue of $24.19 million for the quarter, compared to analyst estimates of $22.31 million. Park Aerospace had a net margin of 15.38% and a return on equity of 10.08%.

Park Aerospace Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, August 3rd. Stockholders of record on Wednesday, July 1st will be given a $0.125 dividend. The ex-dividend date of this dividend is Wednesday, July 1st. This represents a $0.50 annualized dividend and a dividend yield of 1.4%. Park Aerospace’s dividend payout ratio is presently 89.29%.

Institutional Trading of Park Aerospace

Institutional investors have recently added to or reduced their stakes in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new stake in shares of Park Aerospace during the fourth quarter worth $25,000. BNP Paribas Financial Markets increased its position in Park Aerospace by 50.0% during the second quarter. BNP Paribas Financial Markets now owns 2,178 shares of the semiconductor company’s stock worth $32,000 after acquiring an additional 726 shares during the period. Fifth Third Bancorp acquired a new stake in Park Aerospace in the 1st quarter worth about $64,000. State of Alaska Department of Revenue bought a new stake in Park Aerospace in the 4th quarter valued at about $72,000. Finally, Jones Financial Companies Lllp bought a new stake in Park Aerospace in the 1st quarter valued at about $52,000. 77.83% of the stock is currently owned by institutional investors.

About Park Aerospace

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.