$345.17 Million in Sales Expected for Park-Ohio Holdings Corp. (PKOH) This Quarter
Equities analysts expect Park-Ohio Holdings Corp. (NASDAQ:PKOH) to announce sales of $345.17 million for the current fiscal quarter, Zacks reports. Three analysts have issued estimates for Park-Ohio Holdings Corp.’s earnings. The highest sales estimate is $347.80 million and the lowest is $340.90 million. Park-Ohio Holdings Corp. reported sales of $312.70 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 10.4%. The company is scheduled to issue its next earnings results on Monday, November 6th.
According to Zacks, analysts expect that Park-Ohio Holdings Corp. will report full year sales of $345.17 million for the current fiscal year, with estimates ranging from $1.37 billion to $1.39 billion. For the next fiscal year, analysts anticipate that the company will report sales of $1.45 billion per share, with estimates ranging from $1.44 billion to $1.46 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that follow Park-Ohio Holdings Corp..
Park-Ohio Holdings Corp. (NASDAQ:PKOH) last released its quarterly earnings results on Monday, August 7th. The industrial products company reported $0.87 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 firm had revenue of $350.90 million for the quarter, compared to the consensus estimate of $355.83 million.
Several research firms recently commented on PKOH. FBR & Co upped 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 research note on Wednesday, August 9th. 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, Zacks Investment Research upgraded shares of Park-Ohio Holdings Corp. from a “hold” rating to a “buy” rating and set a $44.00 target price for the company in a research note on Thursday, August 31st. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $45.00.
Shares of Park-Ohio Holdings Corp. (PKOH) opened at 45.90 on Tuesday. The company’s 50-day moving average is $43.64 and its 200 day moving average is $39.74. Park-Ohio Holdings Corp. has a 1-year low of $30.01 and a 1-year high of $47.00. The stock has a market cap of $559.93 million, a P/E ratio of 17.37 and a beta of 3.46.
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In related news, insider Robert D. Vilsack sold 1,471 shares of the company’s stock in a transaction on Friday, September 29th. The shares were sold at an average price of $45.75, for a total transaction of $67,298.25. Following the completion of the transaction, the insider now directly owns 93,527 shares in the company, valued at approximately $4,278,860.25. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO Matthew V. Crawford sold 15,808 shares of the stock in a transaction on Monday, September 11th. The shares were sold at an average price of $39.47, for a total transaction of $623,941.76. Following the completion of the transaction, the chief operating officer now owns 1,032,645 shares of the company’s stock, valued at approximately $40,758,498.15. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 39,650 shares of company stock valued at $1,647,828. Corporate insiders own 31.00% of the company’s stock.
Hedge funds have recently made changes to their positions in the company. Russell Investments Group Ltd. raised its stake in shares of 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 valued at $180,000 after buying an additional 1,200 shares in the last quarter. American International Group Inc. raised its stake in shares of 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 valued at $188,000 after buying an additional 346 shares in the last quarter. Cornerstone Capital Management Holdings LLC. acquired a new position in shares of Park-Ohio Holdings Corp. in the 2nd quarter valued at $197,000. Royal Bank of Canada raised its stake in shares of 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 valued at $216,000 after buying an additional 37 shares in the last quarter. Finally, Ameriprise Financial Inc. acquired a new position in shares of Park-Ohio Holdings Corp. in the 2nd quarter valued at $228,000. Institutional investors own 54.83% 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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