Park Aerospace (NYSE:PKE) Stock Passes Above 200-Day Moving Average – Here’s Why

Shares of Park Aerospace Corp. (NYSE:PKE) 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 traded.

Wall Street Analyst Weigh In

Several brokerages have weighed in on PKE. Wall Street Zen upgraded Park Aerospace from a “buy” rating to a “strong-buy” rating in a report on Saturday. Weiss Ratings upgraded Park Aerospace from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, June 1st. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat, Park Aerospace has a consensus rating of “Buy”.

Park Aerospace Trading Down 1.6%

The stock has a market capitalization of $676.26 million, a P/E ratio of 57.84 and a beta of 0.42. The company has a 50-day moving average price of $32.56 and a 200 day moving average price of $26.67.

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

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the stock. Bank of America Corp DE increased its position in Park Aerospace by 128.0% during 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 buying 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 valued at $133,000 after buying 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 valued at $864,000 after buying an additional 6,174 shares in the last quarter. Quantinno Capital Management LP increased its position in Park Aerospace by 31.1% during the 1st quarter. Quantinno Capital Management LP now owns 64,413 shares of the semiconductor company’s stock valued at $1,764,000 after buying an additional 15,292 shares in the last quarter. Finally, Lazard Asset Management LLC acquired a new position in Park Aerospace during the 1st quarter valued at about $2,011,000. 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.