Zacks Investment Research Downgrades Park-Ohio Holdings Corp. (PKOH) to Hold
Park-Ohio Holdings Corp. (NASDAQ:PKOH) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Friday.
According to Zacks, “Park Ohio Holdings Corp. operates through two segments, Manufactured Products and Logistics, which serve a wide variety of industrial markets. Manufactured Products designs and manufactures a broad range of high quality products engineered for specific customer applications. The principal customers of Manufactured Products are original equipment manufacturers and end-users in the automotive, railroad, truck and aerospace industries. Logistics is a leading national supplier of fasteners (e.g., nuts, bolts and screws) and other industrial products. “
PKOH has been the topic of several other research reports. TheStreet upgraded Park-Ohio Holdings Corp. from a “c” rating to a “b-” rating in a research report on Monday, May 8th. BidaskClub upgraded Park-Ohio Holdings Corp. from a “sell” rating to a “hold” rating in a research report on Wednesday. Finally, FBR & Co boosted their price target on Park-Ohio Holdings Corp. from $33.00 to $37.00 and gave the company a “mkt perform” rating in a research report on Wednesday, August 9th. One investment analyst has rated the stock with a hold rating and three have given a buy rating to the company. Park-Ohio Holdings Corp. presently has a consensus rating of “Buy” and an average target price of $45.75.
Shares of Park-Ohio Holdings Corp. (NASDAQ PKOH) opened at 40.55 on Friday. Park-Ohio Holdings Corp. has a 52 week low of $30.01 and a 52 week high of $47.00. The stock has a 50 day moving average price of $39.43 and a 200-day moving average price of $38.96. The stock has a market cap of $494.67 million, a P/E ratio of 15.35 and a beta of 3.47.
Park-Ohio Holdings Corp. (NASDAQ:PKOH) last issued its quarterly earnings results on Monday, August 7th. The industrial products company reported $0.87 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.85 by $0.02. The firm had revenue of $350.90 million for the quarter, compared to analysts’ expectations of $355.83 million. Park-Ohio Holdings Corp. had a return on equity of 16.90% and a net margin of 2.50%. Equities analysts predict that Park-Ohio Holdings Corp. will post $3.24 EPS for the current fiscal year.
In related news, Director Patrick V. Auletta sold 2,010 shares of the business’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 legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director James W. Wert sold 2,500 shares of the business’s stock in a transaction dated Wednesday, August 16th. The shares were sold at an average price of $40.80, for a total value of $102,000.00. Following the completion of the transaction, the director now owns 81,695 shares in the company, valued at approximately $3,333,156. The disclosure for this sale can be found here. Insiders own 31.00% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the company. James Investment Research Inc. acquired a new position in Park-Ohio Holdings Corp. during the first quarter valued at about $2,230,000. Alambic Investment Management L.P. boosted its position in Park-Ohio Holdings Corp. by 20.2% in the first quarter. Alambic Investment Management L.P. now owns 26,135 shares of the industrial products company’s stock valued at $940,000 after buying an additional 4,385 shares during the last quarter. Citadel Advisors LLC acquired a new position in Park-Ohio Holdings Corp. during the first quarter valued at about $439,000. Strs Ohio boosted its position in Park-Ohio Holdings Corp. by 51.3% in the first quarter. Strs Ohio now owns 18,000 shares of the industrial products company’s stock valued at $647,000 after buying an additional 6,100 shares during the last quarter. Finally, AQR Capital Management LLC boosted its position in Park-Ohio Holdings Corp. by 13.9% in the first quarter. AQR Capital Management LLC now owns 115,956 shares of the industrial products company’s stock valued at $4,169,000 after buying an additional 14,190 shares during the last quarter. Institutional investors own 58.38% 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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Park-Ohio Holdings Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Park-Ohio Holdings Corp. and related companies with MarketBeat.com's FREE daily email newsletter.