Park Aerospace (NYSE:PKE) Now Covered by Citizens Jmp

Equities researchers at Citizens Jmp initiated coverage on shares of Park Aerospace (NYSE:PKE) in a research note issued on Tuesday. The firm set an “outperform” rating and a $42.00 price target on the semiconductor company’s stock. Citizens Jmp’s price objective would suggest a potential upside of 31.54% from the stock’s current price.

Several other brokerages have also recently weighed in on PKE. Weiss Ratings raised Park Aerospace from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, June 1st. Citigroup assumed coverage on Park Aerospace in a report on Tuesday. They set an “outperform” rating on the stock. Finally, Wall Street Zen upgraded Park Aerospace from a “buy” rating to a “strong-buy” rating in a research report on Saturday. Three analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $42.00.

Park Aerospace Stock Down 1.8%

Shares of NYSE:PKE opened at $31.93 on Tuesday. The company’s 50 day moving average price is $32.64 and its two-hundred day moving average price is $26.82. Park Aerospace has a 12-month low of $13.52 and a 12-month high of $38.20. The firm has a market cap of $666.70 million, a PE ratio of 57.02 and a beta of 0.42.

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

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of PKE. Bank of America Corp DE boosted its stake in shares of Park Aerospace by 128.0% in the 1st quarter. Bank of America Corp DE now owns 45,047 shares of the semiconductor company’s stock valued at $1,233,000 after purchasing an additional 25,288 shares in the last quarter. Parvin Asset Management LLC increased its position in Park Aerospace by 11.4% during the 1st quarter. Parvin Asset Management LLC now owns 4,875 shares of the semiconductor company’s stock worth $133,000 after purchasing an additional 500 shares in the last quarter. Royal Bank of Canada increased its position in Park Aerospace by 24.3% during the 1st quarter. Royal Bank of Canada now owns 31,575 shares of the semiconductor company’s stock worth $864,000 after purchasing an additional 6,174 shares in the last quarter. Quantinno Capital Management LP lifted its stake in Park Aerospace by 31.1% in the 1st quarter. Quantinno Capital Management LP now owns 64,413 shares of the semiconductor company’s stock valued at $1,764,000 after purchasing an additional 15,292 shares during the last quarter. Finally, Lazard Asset Management LLC bought a new position in Park Aerospace in the 1st quarter valued at approximately $2,011,000. Institutional investors and hedge funds own 77.83% of the company’s stock.

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.