Park Aerospace (NYSE:PKE) Shares Pass Above 200-Day Moving Average – What’s Next?

Shares of Park Aerospace Corp. (NYSE:PKE) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $28.32 and traded as high as $37.61. Park Aerospace shares last traded at $37.4270, with a volume of 533,933 shares trading hands.

Analysts Set New Price Targets

A number of research firms recently weighed in on PKE. Weiss Ratings upgraded shares of Park Aerospace from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday, June 1st. Citigroup assumed coverage on Park Aerospace in a research report on Tuesday, June 9th. They set an “outperform” rating on the stock. Citizens Jmp assumed coverage on Park Aerospace in a report on Tuesday, June 9th. They issued a “market outperform” rating and a $42.00 price target for the company. Finally, Wall Street Zen cut Park Aerospace from a “strong-buy” rating to a “buy” rating in a research report on Sunday, June 14th. Three research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $42.00.

Park Aerospace Stock Up 10.5%

The company has a 50-day moving average price of $33.73 and a two-hundred day moving average price of $28.32. The stock has a market capitalization of $781.48 million, a P/E ratio of 66.83 and a beta of 0.42.

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

Park Aerospace Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, August 3rd. Shareholders of record on Wednesday, July 1st will be paid a $0.125 dividend. The ex-dividend date is Wednesday, July 1st. This represents a $0.50 annualized dividend and a yield of 1.3%. Park Aerospace’s dividend payout ratio is currently 89.29%.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new position in shares of Park Aerospace during the 4th quarter valued at $25,000. BNP Paribas Financial Markets increased its holdings in shares of Park Aerospace by 50.0% in the second quarter. BNP Paribas Financial Markets now owns 2,178 shares of the semiconductor company’s stock worth $32,000 after purchasing an additional 726 shares during the period. Jones Financial Companies Lllp purchased a new stake in shares of Park Aerospace in the first quarter worth $52,000. Tower Research Capital LLC TRC raised its position in shares of Park Aerospace by 241.1% in the second quarter. Tower Research Capital LLC TRC now owns 4,278 shares of the semiconductor company’s stock worth $63,000 after buying an additional 3,024 shares in the last quarter. Finally, Fifth Third Bancorp bought a new stake in Park Aerospace during the first quarter valued at $64,000. 77.83% of the stock is 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.