Park-Ohio Holdings Corp. (NASDAQ:PKOH) Expected to Post Quarterly Sales of $355.83 Million
Wall Street analysts expect Park-Ohio Holdings Corp. (NASDAQ:PKOH) to report sales of $355.83 million for the current quarter, Zacks reports. Three analysts have provided estimates for Park-Ohio Holdings Corp.’s earnings, with the lowest sales estimate coming in at $354.30 million and the highest estimate coming in at $357.20 million. Park-Ohio Holdings Corp. reported sales of $329.40 million in the same quarter last year, which indicates a positive year over year growth rate of 8%. The company is expected to report its next quarterly earnings report on Monday, August 14th.
On average, analysts expect that Park-Ohio Holdings Corp. will report full-year sales of $355.83 million for the current year, with estimates ranging from $1.38 billion to $1.40 billion. For the next financial year, analysts expect that the business will post sales of $1.46 billion per share, with estimates ranging from $1.44 billion to $1.47 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that that provide coverage for Park-Ohio Holdings Corp..
Park-Ohio Holdings Corp. (NASDAQ:PKOH) last issued its quarterly earnings results on Monday, May 8th. The industrial products company reported $0.68 EPS for the quarter, missing analysts’ consensus estimates of $0.69 by $0.01. Park-Ohio Holdings Corp. had a return on equity of 16.89% and a net margin of 3.00%. The company had revenue of $343.80 million during the quarter, compared to the consensus estimate of $342.47 million.
PKOH has been the subject of a number of research analyst reports. TheStreet raised shares of Park-Ohio Holdings Corp. from a “c” rating to a “b-” rating in a report on Monday, May 8th. Zacks Investment Research raised shares of Park-Ohio Holdings Corp. from a “sell” rating to a “hold” rating in a research note on Saturday, May 13th. Two investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Park-Ohio Holdings Corp. has a consensus rating of “Buy” and an average target price of $45.75.
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Shares of Park-Ohio Holdings Corp. (NASDAQ PKOH) traded down 0.49% during mid-day trading on Friday, hitting $40.90. The stock had a trading volume of 11,255 shares. Park-Ohio Holdings Corp. has a 52-week low of $29.45 and a 52-week high of $47.00. The company’s 50 day moving average is $38.30 and its 200-day moving average is $39.31. The stock has a market cap of $499.10 million, a P/E ratio of 13.00 and a beta of 3.47.
In other news, Director Patrick V. Auletta sold 2,010 shares of the company’s stock in a transaction dated Friday, June 9th. The stock was sold at an average price of $38.55, for a total value of $77,485.50. Following the transaction, the director now owns 18,645 shares in the company, valued at approximately $718,764.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 31.00% of the stock is owned by corporate insiders.
Several institutional investors have recently modified their holdings of PKOH. Dimensional Fund Advisors LP increased its position in shares of Park-Ohio Holdings Corp. by 7.9% in the first quarter. Dimensional Fund Advisors LP now owns 662,053 shares of the industrial products company’s stock worth $23,801,000 after buying an additional 48,279 shares in the last quarter. Private Management Group Inc. increased its position in shares of Park-Ohio Holdings Corp. by 0.7% in the first quarter. Private Management Group Inc. now owns 634,391 shares of the industrial products company’s stock worth $22,806,000 after buying an additional 4,409 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Park-Ohio Holdings Corp. by 4.9% in the first quarter. Vanguard Group Inc. now owns 366,734 shares of the industrial products company’s stock worth $13,185,000 after buying an additional 17,097 shares in the last quarter. Blair William & Co. IL acquired a new position in shares of Park-Ohio Holdings Corp. during the first quarter worth $8,954,000. Finally, Teton Advisors Inc. increased its position in shares of Park-Ohio Holdings Corp. by 1.1% in the first quarter. Teton Advisors Inc. now owns 171,400 shares of the industrial products company’s stock worth $6,162,000 after buying an additional 1,900 shares in the last quarter. Institutional investors own 55.86% of the company’s stock.
About Park-Ohio Holdings Corp.
Park-Ohio Holdings Corp. is a diversified international company providing supply chain management outsourcing services, capital equipment used on their production lines and manufactured components used to assemble its products. The Company operates in three segments: Supply Technologies, Assembly Components and Engineered Products.
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