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

Park Aerospace Corp. (NYSE:PKE)’s stock price gapped down before the market opened 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.

Analyst Ratings Changes

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

Park Aerospace Price Performance

The company has a market cap of $654.60 million, a PE ratio of 47.79 and a beta of 0.39. The business’s 50 day moving average is $32.93 and its 200-day moving average is $32.95.

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

Park Aerospace Dividend Announcement

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

Insider Transactions at Park Aerospace

In related news, insider Constantine Petropoulos sold 2,500 shares of the business’s stock in a transaction that occurred on Monday, July 27th. The stock was sold at an average price of $36.00, for a total transaction of $90,000.00. Following the transaction, the insider directly owned 2,500 shares of the company’s stock, valued at approximately $90,000. The trade was a 50.00% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 7.10% of the company’s stock.

Institutional Investors Weigh In On Park Aerospace

Institutional investors and hedge funds have recently bought and sold shares of the business. Brandes Investment Partners LP raised its stake in Park Aerospace by 3.5% during the 4th quarter. Brandes Investment Partners LP now owns 3,191,411 shares of the semiconductor company’s stock valued at $68,105,000 after acquiring an additional 107,231 shares in the last quarter. BlackRock Inc. bought a new stake in Park Aerospace during the second quarter worth approximately $55,207,000. Renaissance Technologies LLC grew its stake in shares of Park Aerospace by 2.3% in the 1st quarter. Renaissance Technologies LLC now owns 859,097 shares of the semiconductor company’s stock worth $23,522,000 after purchasing an additional 19,057 shares during the last quarter. Stephens Investment Management Group LLC bought a new stake in shares of Park Aerospace during the 1st quarter worth $14,926,000. Finally, Next Century Growth Investors LLC boosted its position in shares of Park Aerospace by 93.0% in the 4th quarter. Next Century Growth Investors LLC now owns 526,054 shares of the semiconductor company’s stock valued at $11,226,000 after purchasing an additional 253,508 shares during the period. Institutional investors and hedge funds 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.