Park Aerospace (NYSE:PKE) Stock Passes Above 200 Day Moving Average – What’s Next?

Park Aerospace Corp. (NYSE:PKE)’s share price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $26.67 and traded as high as $33.03. Park Aerospace shares last traded at $32.3880, with a volume of 203,348 shares changing hands.

Wall Street Analyst Weigh In

PKE has been the topic of several recent analyst reports. Wall Street Zen raised shares of Park Aerospace from a “buy” rating to a “strong-buy” rating in a research note on Saturday. Weiss Ratings upgraded shares of Park Aerospace from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday. One research analyst has rated the stock with a Buy rating, According to MarketBeat, the company has an average rating of “Buy”.

Park Aerospace Stock Performance

The stock has a market capitalization of $676.26 million, a PE ratio of 57.84 and a beta of 0.42. The business has a 50 day moving average of $32.56 and a two-hundred day moving average of $26.67.

Park Aerospace (NYSE:PKE) last issued its quarterly earnings data on Thursday, May 28th. The semiconductor company reported $0.19 earnings per share for the quarter, topping analysts’ consensus estimates of $0.16 by $0.03. Park Aerospace had a return on equity of 10.08% and a net margin of 15.38%.The firm had revenue of $24.19 million during the quarter, compared to analysts’ expectations of $22.31 million.

Institutional Investors Weigh In On Park Aerospace

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new stake in Park Aerospace in the fourth quarter valued at about $25,000. BNP Paribas Financial Markets raised its stake in Park Aerospace by 50.0% in the second quarter. BNP Paribas Financial Markets now owns 2,178 shares of the semiconductor company’s stock valued at $32,000 after buying an additional 726 shares during the last quarter. Fifth Third Bancorp purchased a new stake in Park Aerospace in the first quarter valued at about $64,000. State of Alaska Department of Revenue purchased a new stake in Park Aerospace in the fourth quarter valued at about $72,000. Finally, Jones Financial Companies Lllp purchased a new stake in Park Aerospace in the first quarter valued at about $52,000. 77.83% of the stock is currently owned by hedge funds and other institutional investors.

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.