NEW YORK (TheStreet) -- Shares of Park Electrochemical Corp. (PKE) are higher by 2.38% to $28.78 in late-morning trading on Tuesday after the company reported an increase in net income to $8.6 million, or 39 cents per share for the 2014 first quarter, compared to $5.1 million, or 24 cents per share for the 2013 first quarter.
The global advanced materials company posted net sales of $48.8 million for the most recent quarter, compared to $43.4 million for the same period last year.
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Separately, TheStreet Ratings team rates PARK ELECTROCHEMICAL CORP as a Hold with a ratings score of C-. TheStreet Ratings Team has this to say about their recommendation:
"We rate PARK ELECTROCHEMICAL CORP (PKE) a HOLD. The primary factors that have impacted our rating are mixed some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its increase in stock price during the past year, largely solid financial position with reasonable debt levels by most measures and good cash flow from operations. However, as a counter to these strengths, we also find weaknesses including deteriorating net income, disappointing return on equity and poor profit margins."