Park-Ohio Holdings Corp. (PKOH) Rating Lowered to Hold at Zacks Investment Research
Park-Ohio Holdings Corp. (NASDAQ:PKOH) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Thursday.
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. “
A number of other research analysts have also issued reports on the stock. ValuEngine upgraded shares of Park-Ohio Holdings Corp. from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, September 6th. BidaskClub upgraded shares of Park-Ohio Holdings Corp. from a “sell” rating to a “hold” rating in a research note on Wednesday, August 16th. Finally, FBR & Co boosted their price target on shares of Park-Ohio Holdings Corp. from $33.00 to $37.00 and gave the stock a “mkt perform” rating in a research note on Wednesday, August 9th. One investment analyst has rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Buy” and an average target price of $44.00.
Park-Ohio Holdings Corp. (NASDAQ PKOH) traded up 0.37% during midday trading on Thursday, hitting $40.40. The stock had a trading volume of 44,422 shares. Park-Ohio Holdings Corp. has a 12 month low of $30.01 and a 12 month high of $47.00. The stock has a 50 day moving average of $39.76 and a 200 day moving average of $38.34. The stock has a market cap of $492.84 million, a price-to-earnings ratio of 15.29 and a beta of 3.42.
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, topping analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $355.83 million. Analysts expect that Park-Ohio Holdings Corp. will post $3.24 EPS for the current fiscal year.
In other Park-Ohio Holdings Corp. news, COO Matthew V. Crawford sold 4,192 shares of the company’s stock in a transaction dated Wednesday, September 13th. The shares were sold at an average price of $40.21, for a total transaction of $168,560.32. Following the transaction, the chief operating officer now directly owns 1,016,145 shares in the company, valued at $40,859,190.45. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director James W. Wert sold 2,500 shares of the company’s stock in a transaction dated Wednesday, August 16th. The stock was sold at an average price of $40.80, for a total transaction of $102,000.00. Following the transaction, the director now owns 81,695 shares in the company, valued at $3,333,156. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 26,162 shares of company stock worth $1,041,861. Company insiders own 31.00% of the company’s stock.
A number of institutional investors and hedge funds have recently modified their holdings of the business. The Manufacturers Life Insurance Company grew its position in Park-Ohio Holdings Corp. by 6.4% during the second quarter. The Manufacturers Life Insurance Company now owns 7,473 shares of the industrial products company’s stock worth $285,000 after buying an additional 452 shares during the period. Cornerstone Capital Management Holdings LLC. acquired a new position in Park-Ohio Holdings Corp. during the second quarter worth about $197,000. Royal Bank of Canada grew its position in Park-Ohio Holdings Corp. by 0.7% during the second quarter. Royal Bank of Canada now owns 5,663 shares of the industrial products company’s stock worth $216,000 after buying an additional 37 shares during the period. Dimensional Fund Advisors LP grew its position in Park-Ohio Holdings Corp. by 8.4% during the second quarter. Dimensional Fund Advisors LP now owns 717,368 shares of the industrial products company’s stock worth $27,332,000 after buying an additional 55,315 shares during the period. Finally, Vanguard Group Inc. grew its position in Park-Ohio Holdings Corp. by 3.8% during the second quarter. Vanguard Group Inc. now owns 380,717 shares of the industrial products company’s stock worth $14,506,000 after buying an additional 13,983 shares during the period. Institutional investors own 55.12% of the company’s stock.
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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