Needham & Company Maintains a 'Hold' on Park Electrochemical (PKE); Reports F3Q Below Consensus; Conditions Slightly Improving, But Sustainability Of Trend Is Unclear
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Price: $38.20 +2.47%
Rating Summary:
2 Buy, 0 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
2 Buy, 0 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Needham & Company maintains a 'Hold' on Park Electrochemical (NYSE: PKE).
Needham analyst says, "Overall, we are unclear if a recent uptick in demand trends at PKE is sustainable. On the positive side, we believe PKE could see some benefit (largely in 2HC12) from traction with new product launches and margin expansion from the conclusion of product/facility transfers. But at present, we believe demand is generally choppy (with short periods of ups/downs) and view the uninspiring macro picture as an overriding factor that presents risk to our model. Consequently, we remain on the sidelines and maintain our Hold rating until demand continuity materializes."
"Our F4Q est. becomes $47.5M & $0.25 (incl. opt.), vs. prior $47.3M & $0.28. F12 now $197M & $1.19, vs. prior $198M & $1.21. F13 revised from $212M & $1.65 to $212M & $1.63."
For an analyst ratings summary and ratings history on Park Electrochemical click here. For more ratings news on Park Electrochemical click here.
Shares of Park Electrochemical closed at $25.69 yesterday.
Needham analyst says, "Overall, we are unclear if a recent uptick in demand trends at PKE is sustainable. On the positive side, we believe PKE could see some benefit (largely in 2HC12) from traction with new product launches and margin expansion from the conclusion of product/facility transfers. But at present, we believe demand is generally choppy (with short periods of ups/downs) and view the uninspiring macro picture as an overriding factor that presents risk to our model. Consequently, we remain on the sidelines and maintain our Hold rating until demand continuity materializes."
"Our F4Q est. becomes $47.5M & $0.25 (incl. opt.), vs. prior $47.3M & $0.28. F12 now $197M & $1.19, vs. prior $198M & $1.21. F13 revised from $212M & $1.65 to $212M & $1.63."
For an analyst ratings summary and ratings history on Park Electrochemical click here. For more ratings news on Park Electrochemical click here.
Shares of Park Electrochemical closed at $25.69 yesterday.
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