Park Electrochemical (PKE) Cut to “Strong Sell” at Zacks Investment Research

Park Electrochemical (NYSE:PKE) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a note issued to investors on Friday.

According to Zacks, “Park Electrochemical Corp. is a global advanced materials company which develops and manufactures advanced composite materials, primary and secondary structures and assemblies and low-volume tooling for the aerospace markets and high-technology digital and RF/microwave printed circuit materials principally for the telecommunications and internet infrastructure, enterprise and military/aerospace markets. Park’s core capabilities are in the areas of polymer chemistry formulation and coating technology. It’s operates through the following divisions: Advanced Composite Materials, Aerospace Structures, Electronic Materials, and Radio Frequency and Microwave Materials. “

Separately, Needham & Company LLC increased their target price on shares of Park Electrochemical to $24.00 and gave the company a “buy” rating in a research note on Friday, January 5th. They noted that the move was a valuation call.

Park Electrochemical (NYSE PKE) traded up $0.34 during mid-day trading on Friday, reaching $22.05. 415,400 shares of the company traded hands, compared to its average volume of 151,914. Park Electrochemical has a fifty-two week low of $16.00 and a fifty-two week high of $22.19. The firm has a market capitalization of $446.23, a price-to-earnings ratio of 51.28 and a beta of 0.89. The company has a current ratio of 19.23, a quick ratio of 18.39 and a debt-to-equity ratio of 0.37.

Park Electrochemical (NYSE:PKE) last released its earnings results on Thursday, January 4th. The semiconductor company reported $0.06 EPS for the quarter, missing the consensus estimate of $0.13 by ($0.07). Park Electrochemical had a net margin of 4.60% and a return on equity of 4.69%. The business had revenue of $26.14 million for the quarter, compared to analyst estimates of $28.50 million. During the same period in the prior year, the company earned $0.10 earnings per share. equities analysts forecast that Park Electrochemical will post 0.37 earnings per share for the current year.

A number of hedge funds have recently added to or reduced their stakes in PKE. Vanguard Group Inc. lifted its position in shares of Park Electrochemical by 4.1% in the 2nd quarter. Vanguard Group Inc. now owns 1,840,125 shares of the semiconductor company’s stock valued at $33,895,000 after acquiring an additional 73,054 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Park Electrochemical by 1.9% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,128,894 shares of the semiconductor company’s stock valued at $20,885,000 after acquiring an additional 20,598 shares in the last quarter. Renaissance Technologies LLC lifted its position in shares of Park Electrochemical by 2.4% in the 2nd quarter. Renaissance Technologies LLC now owns 1,073,000 shares of the semiconductor company’s stock valued at $19,765,000 after acquiring an additional 25,500 shares in the last quarter. Wells Fargo & Company MN lifted its position in shares of Park Electrochemical by 3.2% in the 3rd quarter. Wells Fargo & Company MN now owns 258,095 shares of the semiconductor company’s stock valued at $4,774,000 after acquiring an additional 7,914 shares in the last quarter. Finally, Northern Trust Corp lifted its position in shares of Park Electrochemical by 2.7% in the 2nd quarter. Northern Trust Corp now owns 246,434 shares of the semiconductor company’s stock valued at $4,540,000 after acquiring an additional 6,437 shares in the last quarter. 81.82% of the stock is owned by institutional investors and hedge funds.

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About Park Electrochemical

Park Electrochemical Corp. is a global advanced materials company. The Company develops, manufactures, markets and sells 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 and low-volume tooling products for the aerospace markets.

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