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 research note issued on Wednesday.
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. “
Several other equities analysts have also weighed in on PKOH. FBR & Co increased their target price on Park-Ohio Holdings Corp. from $33.00 to $37.00 and gave the company a “mkt perform” rating in a research note on Wednesday, August 9th. BidaskClub upgraded Park-Ohio Holdings Corp. from a “sell” rating to a “hold” rating in a report on Wednesday, August 16th. Finally, ValuEngine upgraded Park-Ohio Holdings Corp. from a “buy” rating to a “strong-buy” rating in a report on Wednesday. One research analyst has rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. Park-Ohio Holdings Corp. has a consensus rating of “Buy” and an average target price of $43.67.
Shares of Park-Ohio Holdings Corp. (NASDAQ:PKOH) traded down 0.13% during midday trading on Wednesday, hitting $39.25. 26,261 shares of the company were exchanged. Park-Ohio Holdings Corp. has a one year low of $30.01 and a one year high of $47.00. The firm has a market cap of $478.81 million, a P/E ratio of 14.86 and a beta of 3.42. The company’s 50 day moving average price is $39.76 and its 200 day moving average price is $38.47.
Park-Ohio Holdings Corp. (NASDAQ:PKOH) last announced its earnings results on Monday, August 7th. The industrial products company reported $0.87 EPS for the quarter, topping the consensus estimate of $0.85 by $0.02. Park-Ohio Holdings Corp. had a return on equity of 16.90% and a net margin of 2.50%. The company had revenue of $350.90 million for the quarter, compared to analysts’ expectations of $355.83 million. Equities analysts expect that Park-Ohio Holdings Corp. will post $3.24 EPS for the current year.
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In related news, Director James W. Wert sold 2,500 shares of Park-Ohio Holdings Corp. stock in a transaction that occurred on Wednesday, August 16th. The stock was sold at an average price of $40.80, for a total transaction of $102,000.00. Following the completion of the sale, the director now directly owns 81,695 shares of the company’s stock, valued at approximately $3,333,156. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 31.00% of the company’s stock.
Large investors have recently added to or reduced their stakes in the stock. Russell Investments Group Ltd. lifted its holdings in Park-Ohio Holdings Corp. by 31.7% during the 1st quarter. Russell Investments Group Ltd. now owns 4,981 shares of the industrial products company’s stock worth $180,000 after purchasing an additional 1,200 shares during the last quarter. American International Group Inc. lifted its holdings in Park-Ohio Holdings Corp. by 7.1% during the 1st quarter. American International Group Inc. now owns 5,238 shares of the industrial products company’s stock worth $188,000 after purchasing an additional 346 shares during the last quarter. Cornerstone Capital Management Holdings LLC. acquired a new stake in Park-Ohio Holdings Corp. during the 2nd quarter worth approximately $197,000. Wedge Capital Management L L P NC lifted its holdings in Park-Ohio Holdings Corp. by 3.8% during the 1st quarter. Wedge Capital Management L L P NC now owns 5,558 shares of the industrial products company’s stock worth $200,000 after purchasing an additional 202 shares during the last quarter. Finally, Oxford Asset Management acquired a new stake in Park-Ohio Holdings Corp. during the 1st quarter worth approximately $202,000. 55.12% of the stock is owned by institutional investors and hedge funds.
Park-Ohio Holdings Corp. Company Profile
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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