Zacks: Analysts Set $21.50 Price Target for Park Electrochemical Corp. (PKE)
Shares of Park Electrochemical Corp. (NYSE:PKE) have been given an average broker rating score of 1.50 (Buy) from the two analysts that provide coverage for the stock, Zacks Investment Research reports. One equities research analyst has rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company.
Analysts have set a twelve-month consensus price target of $21.50 for the company and are expecting that the company will post $0.14 earnings per share for the current quarter, according to Zacks. Zacks has also given Park Electrochemical Corp. an industry rank of 67 out of 265 based on the ratings given to its competitors.
Separately, Zacks Investment Research raised shares of Park Electrochemical Corp. from a “strong sell” rating to a “hold” rating in a report on Wednesday, August 31st.
Park Electrochemical Corp. (NYSE:PKE) opened at 18.84 on Friday. The company’s 50-day moving average is $16.04 and its 200 day moving average is $16.16. Park Electrochemical Corp. has a 52 week low of $13.65 and a 52 week high of $18.94. The stock has a market cap of $381.21 million, a PE ratio of 28.12 and a beta of 1.05.
Park Electrochemical Corp. (NYSE:PKE) last announced its quarterly earnings results on Thursday, October 6th. The company reported $0.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.21 by $0.11. The company had revenue of $29.06 million for the quarter. Park Electrochemical Corp. had a net margin of 10.42% and a return on equity of 7.78%. During the same quarter in the previous year, the firm posted $0.23 earnings per share. On average, analysts expect that Park Electrochemical Corp. will post $0.48 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, November 1st. Stockholders of record on Tuesday, October 4th were issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.12%. The ex-dividend date was Friday, September 30th. Park Electrochemical Corp.’s payout ratio is presently 58.82%.
In other Park Electrochemical Corp. news, Chairman Brian E. Shore acquired 7,500 shares of the stock in a transaction dated Friday, October 21st. The shares were purchased at an average price of $14.71 per share, for a total transaction of $110,325.00. Following the purchase, the chairman now directly owns 425,305 shares of the company’s stock, valued at $6,256,236.55. The acquisition was disclosed in a filing with the SEC, which is available at this link. Insiders own 7.80% of the company’s stock.
Several institutional investors have recently modified their holdings of the company. Royce & Associates LP boosted its position in shares of Park Electrochemical Corp. by 5.9% in the second quarter. Royce & Associates LP now owns 2,747,934 shares of the company’s stock valued at $39,927,000 after buying an additional 153,600 shares during the period. Bank of New York Mellon Corp boosted its position in shares of Park Electrochemical Corp. by 1.0% in the second quarter. Bank of New York Mellon Corp now owns 289,487 shares of the company’s stock valued at $4,206,000 after buying an additional 2,809 shares during the period. Gamco Investors INC. ET AL boosted its position in shares of Park Electrochemical Corp. by 3.3% in the second quarter. Gamco Investors INC. ET AL now owns 778,500 shares of the company’s stock valued at $11,312,000 after buying an additional 24,817 shares during the period. California Public Employees Retirement System boosted its position in shares of Park Electrochemical Corp. by 15.8% in the second quarter. California Public Employees Retirement System now owns 71,700 shares of the company’s stock valued at $1,042,000 after buying an additional 9,800 shares during the period. Finally, Teton Advisors Inc. boosted its position in shares of Park Electrochemical Corp. by 10.8% in the second quarter. Teton Advisors Inc. now owns 119,292 shares of the company’s stock valued at $1,733,000 after buying an additional 11,658 shares during the period. Hedge funds and other institutional investors own 82.52% of the company’s stock.
ILLEGAL ACTIVITY NOTICE: “Zacks: Analysts Set $21.50 Price Target for Park Electrochemical Corp. (PKE)” was first posted by Financial Market News and is owned by of Financial Market News. If you are viewing this story on another website, it was illegally copied and reposted in violation of U.S. & international copyright & trademark laws. The correct version of this story can be read at http://www.financial-market-news.com/zacks-analysts-set-21-50-price-target-for-park-electrochemical-corp-pke/1209592/.
About Park Electrochemical Corp.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Park Electrochemical Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Park Electrochemical Corp. and related companies with MarketBeat.com's FREE daily email newsletter.