Park Electrochemical Corp. Downgraded to “Hold” at TheStreet (PKE)
Park Electrochemical Corp. (NYSE:PKE) was downgraded by TheStreet from a “buy” rating to a “hold” rating in a research note issued on Thursday, StockRatingsNetwork.com reports.
The analysts wrote, “Park Electrochemical (PKE) has been downgraded by TheStreet Ratings from buy to hold. The company’s strengths can be seen in multiple areas, such as its largely solid financial position with reasonable debt levels by most measures, good cash flow from operations and solid stock price performance. However, as a counter to these strengths, we find that the company’s profit margins have been poor overall.”
Shares of Park Electrochemical Corp. (NYSE:PKE) traded down 0.86% on Thursday, hitting $27.53. 24,318 shares of the company’s stock traded hands. Park Electrochemical Corp. has a 52 week low of $22.31 and a 52 week high of $30.64. The stock has a 50-day moving average of $28.7 and a 200-day moving average of $28.49. The company has a market cap of $574.6 million and a P/E ratio of 26.70.
The company also recently declared a quarterly dividend, which is scheduled for Monday, May 5th. Shareholders of record on Friday, April 4th will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 1.45%. The ex-dividend date of this dividend is Wednesday, April 2nd.
Separately, analysts at Zacks upgraded shares of Park Electrochemical Corp. from an “underperform” rating to a “neutral” rating in a research note on Tuesday, March 4th. They now have a $29.20 price target on the stock.
Park Electrochemical Corp. (NYSE:PKE), through its subsidiaries, is a global advanced materials company, which develops, manufactures, markets and sells high-technology digital and radio frequency (RF)/microwave printed circuit materials products principally for the telecommunications and Internet infrastructure and high-end computing markets and advanced composite materials, parts and assemblies products principally for the aerospace markets.
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