Needham & Company LLC Reiterates “Buy” Rating for Park Aerospace (NYSE:PKE)

Park Aerospace (NYSE:PKE)‘s stock had its “buy” rating reissued by equities research analysts at Needham & Company LLC in a research report issued on Tuesday,Benzinga reports. They currently have a $43.00 price objective on the semiconductor company’s stock. Needham & Company LLC’s target price points to a potential upside of 28.30% from the company’s current price.

Several other brokerages also recently commented on PKE. Wall Street Zen downgraded Park Aerospace from a “strong-buy” rating to a “buy” rating in a report on Sunday, June 14th. Citizens Jmp initiated coverage on Park Aerospace in a research note on Tuesday, June 9th. They issued a “market outperform” rating and a $42.00 price objective on the stock. Weiss Ratings upgraded Park Aerospace from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, June 1st. Finally, Citigroup reissued a “market outperform” rating on shares of Park Aerospace in a research report on Tuesday. Four investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $42.50.

Park Aerospace Price Performance

PKE opened at $33.51 on Tuesday. Park Aerospace has a fifty-two week low of $17.25 and a fifty-two week high of $39.86. The company’s 50 day moving average price is $34.19 and its two-hundred day moving average price is $30.02. The firm has a market capitalization of $728.93 million, a price-to-earnings ratio of 53.20 and a beta of 0.39.

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of PKE. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new position in shares of Park Aerospace during the fourth quarter valued at about $25,000. BNP Paribas Financial Markets grew its stake in shares of Park Aerospace by 50.0% in the 2nd 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 period. Jones Financial Companies Lllp bought a new stake in Park Aerospace in the 1st quarter valued at about $52,000. Tower Research Capital LLC TRC increased its position in Park Aerospace by 241.1% in the 2nd quarter. Tower Research Capital LLC TRC now owns 4,278 shares of the semiconductor company’s stock valued at $63,000 after buying an additional 3,024 shares in the last quarter. Finally, Fifth Third Bancorp acquired a new position in Park Aerospace during the 1st quarter worth approximately $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.