Park-Ohio Holdings Corp. (PKOH) Rating Increased to Buy at Zacks Investment Research
Park-Ohio Holdings Corp. (NASDAQ:PKOH) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Friday. The brokerage currently has a $45.00 price target on the industrial products company’s stock. Zacks Investment Research‘s price target would suggest a potential upside of 12.08% from the stock’s current price.
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 research firms have also weighed in on PKOH. BidaskClub raised shares of Park-Ohio Holdings Corp. from a “sell” rating to a “hold” rating in a report on Wednesday, August 16th. ValuEngine raised shares of Park-Ohio Holdings Corp. from a “buy” rating to a “strong-buy” rating in a report on Wednesday, September 6th. Finally, FBR & Co lifted their target price on shares of Park-Ohio Holdings Corp. from $33.00 to $37.00 and gave the company a “mkt perform” rating in a report on Wednesday, August 9th. One investment analyst has rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. Park-Ohio Holdings Corp. currently has an average rating of “Buy” and an average target price of $44.00.
Shares of Park-Ohio Holdings Corp. (NASDAQ:PKOH) opened at 40.15 on Friday. The firm’s 50-day moving average is $39.76 and its 200-day moving average is $38.37. Park-Ohio Holdings Corp. has a one year low of $30.01 and a one year high of $47.00. The stock has a market capitalization of $489.79 million, a PE ratio of 15.20 and a beta of 3.42.
Park-Ohio Holdings Corp. (NASDAQ:PKOH) last announced its quarterly earnings data on Monday, August 7th. The industrial products company reported $0.87 EPS for the quarter, beating the consensus estimate of $0.85 by $0.02. Park-Ohio Holdings Corp. had a net margin of 2.50% and a return on equity of 16.90%. The business had revenue of $350.90 million during the quarter, compared to analysts’ expectations of $355.83 million. On average, analysts expect that Park-Ohio Holdings Corp. will post $3.24 earnings per share for the current fiscal year.
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In related news, COO Matthew V. Crawford sold 3,662 shares of the business’s stock in a transaction on Tuesday, September 12th. The shares were sold at an average price of $40.24, for a total value of $147,358.88. Following the completion of the sale, the chief operating officer now owns 1,016,145 shares of the company’s stock, valued at approximately $40,889,674.80. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director James W. Wert sold 2,500 shares of the business’s stock in a transaction 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 disclosure for this sale can be found here. Over the last ninety days, insiders have sold 26,162 shares of company stock valued at $1,041,861. Insiders own 31.00% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Russell Investments Group Ltd. increased its holdings in Park-Ohio Holdings Corp. by 31.7% in the 1st quarter. Russell Investments Group Ltd. now owns 4,981 shares of the industrial products company’s stock worth $180,000 after acquiring an additional 1,200 shares in the last quarter. American International Group Inc. increased its holdings in Park-Ohio Holdings Corp. by 7.1% in the 1st quarter. American International Group Inc. now owns 5,238 shares of the industrial products company’s stock worth $188,000 after acquiring an additional 346 shares in the last quarter. Cornerstone Capital Management Holdings LLC. purchased a new stake in Park-Ohio Holdings Corp. in the 2nd quarter worth $197,000. Oxford Asset Management purchased a new stake in Park-Ohio Holdings Corp. in the 1st quarter worth $202,000. Finally, Royal Bank of Canada increased its holdings in Park-Ohio Holdings Corp. by 0.7% in the 2nd quarter. Royal Bank of Canada now owns 5,663 shares of the industrial products company’s stock worth $216,000 after acquiring an additional 37 shares in the last quarter. 55.12% of the stock is owned by institutional investors.
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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