Park Electrochemical Corp. (PKE) saw a big move last session, as the company’s shares fell nearly 6% on the day. The move came on pretty good volume too with far more shares changing hands than in a normal session. This continues the recent downtrend for PKE, as the stock is now down over 10% since Jun 10.
On Jun 23, 2015, Park Electrochemical reported first-quarter fiscal 2016 earnings of 24 cents per share missing the street consensus by 14.3%.
This slump shouldn’t be too much of a surprise to investors, as the miscellaneous electric components manufacturer has seen 1 negative revision in the past few weeks and its current year earnings consensus has moved lower over the last 30 days. This suggests there may be more trouble down the road. So make sure to keep an eye on this stock going forward to see if this recent slump will continue, as the earnings picture definitely suggests that this might be the case.
PKE currently has a Zacks Rank #5 (Strong Sell).
A better-ranked stock in the same industry is Fabrinet (FN), which currently carries a Zacks Rank #1 (Strong Buy).
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