Park-Ohio Holdings Corp. (PKOH) Given Consensus Recommendation of “Hold” by Brokerages
Park-Ohio Holdings Corp. (NASDAQ:PKOH) has received an average recommendation of “Hold” from the six brokerages that are currently covering the firm, MarketBeat.com reports. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $50.00.
A number of research analysts have recently commented on PKOH shares. FBR & Co upped 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 raised Park-Ohio Holdings Corp. from a “sell” rating to a “hold” rating in a research note on Wednesday, August 16th. Finally, Zacks Investment Research raised Park-Ohio Holdings Corp. from a “hold” rating to a “buy” rating and set a $44.00 target price on the stock in a research note on Thursday, August 31st.
In related news, Director James W. Wert sold 2,500 shares of the business’s stock in a transaction that occurred on Wednesday, August 16th. The stock was sold at an average price of $40.80, for a total value of $102,000.00. Following the completion of the sale, the director now owns 81,695 shares in the company, valued at $3,333,156. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Robert D. Vilsack sold 7,436 shares of the business’s stock in a transaction that occurred on Thursday, September 28th. The shares were sold at an average price of $45.02, for a total value of $334,768.72. Following the completion of the sale, the insider now owns 103,527 shares of the company’s stock, valued at approximately $4,660,785.54. The disclosure for this sale can be found here. Insiders sold 39,650 shares of company stock valued at $1,647,828 in the last quarter. 31.00% of the stock is owned by company insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in PKOH. Russell Investments Group Ltd. boosted its holdings in shares of Park-Ohio Holdings Corp. by 31.7% in the first quarter. Russell Investments Group Ltd. now owns 4,981 shares of the industrial products company’s stock valued at $180,000 after purchasing an additional 1,200 shares during the period. American International Group Inc. boosted its holdings in shares of Park-Ohio Holdings Corp. by 7.1% in the first quarter. American International Group Inc. now owns 5,238 shares of the industrial products company’s stock valued at $188,000 after purchasing an additional 346 shares during the period. Cornerstone Capital Management Holdings LLC. purchased a new stake in shares of Park-Ohio Holdings Corp. in the second quarter valued at approximately $197,000. Royal Bank of Canada boosted its holdings in shares of Park-Ohio Holdings Corp. by 0.7% in the second quarter. Royal Bank of Canada now owns 5,663 shares of the industrial products company’s stock valued at $216,000 after purchasing an additional 37 shares during the period. Finally, Ameriprise Financial Inc. purchased a new stake in shares of Park-Ohio Holdings Corp. in the second quarter valued at approximately $228,000. Hedge funds and other institutional investors own 54.83% of the company’s stock.
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Shares of Park-Ohio Holdings Corp. (NASDAQ:PKOH) opened at 45.40 on Thursday. The company’s 50-day moving average price is $43.85 and its 200 day moving average price is $39.83. 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 $553.83 million, a PE ratio of 17.18 and a beta of 3.46.
Park-Ohio Holdings Corp. (NASDAQ:PKOH) last released its earnings results on Monday, August 7th. The industrial products company reported $0.87 EPS for the quarter, beating analysts’ consensus estimates 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%. Analysts anticipate that Park-Ohio Holdings Corp. will post $3.25 EPS for the current year.
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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