Park Electrochemical (PKE) Downgraded to “Strong Sell” at Zacks Investment Research

Zacks Investment Research cut shares of Park Electrochemical (NYSE:PKE) from a hold rating to a strong sell rating in a report issued on Friday morning.

According to Zacks, “Park Electrochemical Corp. is a global advanced materials company which develops and manufactures advanced composite materials, primary and secondary structures and assemblies and low-volume tooling for the aerospace markets and high-technology digital and RF/microwave printed circuit materials principally for the telecommunications and internet infrastructure, enterprise and military/aerospace markets. Park’s core capabilities are in the areas of polymer chemistry formulation and coating technology. It’s operates through the following divisions: Advanced Composite Materials, Aerospace Structures, Electronic Materials, and Radio Frequency and Microwave Materials. “

Separately, Needham & Company LLC increased their target price on Park Electrochemical to $24.00 and gave the stock a buy rating in a research report on Friday, January 5th. They noted that the move was a valuation call.

Shares of Park Electrochemical (PKE) traded up $0.34 on Friday, reaching $22.05. The company’s stock had a trading volume of 415,400 shares, compared to its average volume of 262,744. The company has a debt-to-equity ratio of 0.37, a quick ratio of 18.39 and a current ratio of 19.23. The stock has a market capitalization of $457.37, a PE ratio of 88.20 and a beta of 0.89. Park Electrochemical has a fifty-two week low of $16.00 and a fifty-two week high of $22.19.

Park Electrochemical (NYSE:PKE) last issued its quarterly earnings results on Thursday, January 4th. The semiconductor company reported $0.06 EPS for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.07). The company had revenue of $26.14 million during the quarter, compared to analysts’ expectations of $28.50 million. Park Electrochemical had a return on equity of 4.69% and a net margin of 4.60%. During the same quarter in the previous year, the company earned $0.10 EPS. equities research analysts forecast that Park Electrochemical will post 0.37 EPS for the current year.

The firm also recently announced a special dividend, which will be paid on Tuesday, February 13th. Investors of record on Tuesday, January 23rd will be given a dividend of $3.00 per share. The ex-dividend date of this dividend is Monday, January 22nd. This is a boost from Park Electrochemical’s previous special dividend of $1.50. Park Electrochemical’s dividend payout ratio (DPR) is currently 160.00%.

Several large investors have recently added to or reduced their stakes in PKE. BNP Paribas Arbitrage SA grew its position in shares of Park Electrochemical by 57.3% during the second quarter. BNP Paribas Arbitrage SA now owns 6,986 shares of the semiconductor company’s stock worth $129,000 after purchasing an additional 2,545 shares in the last quarter. Municipal Employees Retirement System of Michigan grew its position in shares of Park Electrochemical by 59.0% during the third quarter. Municipal Employees Retirement System of Michigan now owns 7,140 shares of the semiconductor company’s stock worth $132,000 after purchasing an additional 2,650 shares in the last quarter. Thrivent Financial For Lutherans grew its position in shares of Park Electrochemical by 7.3% during the second quarter. Thrivent Financial For Lutherans now owns 11,480 shares of the semiconductor company’s stock worth $211,000 after purchasing an additional 780 shares in the last quarter. Voya Investment Management LLC grew its position in shares of Park Electrochemical by 13.6% during the second quarter. Voya Investment Management LLC now owns 13,071 shares of the semiconductor company’s stock worth $241,000 after purchasing an additional 1,561 shares in the last quarter. Finally, SG Americas Securities LLC purchased a new stake in shares of Park Electrochemical during the third quarter worth about $254,000. Hedge funds and other institutional investors own 81.82% of the company’s stock.

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Park Electrochemical Company Profile

Park Electrochemical Corp. is a global advanced materials company. The Company develops, manufactures, markets and sells digital and radio frequency (RF)/microwave printed circuit materials products principally for the telecommunications and Internet infrastructure and high-end computing markets and advanced composite materials, parts and assemblies and low-volume tooling products for the aerospace markets.

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