FY2018 EPS Estimates for Park-Ohio Holdings Corp. (PKOH) Boosted by KeyCorp

Park-Ohio Holdings Corp. (NASDAQ:PKOH) – Equities researchers at KeyCorp lifted their FY2018 EPS estimates for Park-Ohio in a research report issued on Thursday. KeyCorp analyst S. Barger now expects that the industrial products company will post earnings of $4.30 per share for the year, up from their prior forecast of $3.90.

PKOH has been the subject of several other research reports. BidaskClub cut shares of Park-Ohio from a “buy” rating to a “hold” rating in a report on Thursday, December 7th. ValuEngine cut shares of Park-Ohio from a “strong-buy” rating to a “buy” rating in a report on Monday, October 2nd. Zacks Investment Research upgraded shares of Park-Ohio from a “hold” rating to a “buy” rating and set a $47.00 target price for the company in a report on Thursday, November 9th. B. Riley reiterated a “neutral” rating on shares of Park-Ohio in a research note on Wednesday, November 1st. Finally, FBR & Co reiterated a “hold” rating on shares of Park-Ohio in a research note on Thursday, October 5th. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Park-Ohio currently has an average rating of “Hold” and an average price target of $42.00.

Park-Ohio (NASDAQ:PKOH) opened at $47.35 on Monday. Park-Ohio has a 1-year low of $34.25 and a 1-year high of $47.90. The company has a market cap of $593.32, a price-to-earnings ratio of 20.06 and a beta of 3.47. The company has a current ratio of 2.36, a quick ratio of 1.39 and a debt-to-equity ratio of 1.79.

Park-Ohio (NASDAQ:PKOH) last announced its earnings results on Monday, November 6th. The industrial products company reported $0.82 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.87 by ($0.05). Park-Ohio had a return on equity of 14.79% and a net margin of 2.16%. The business had revenue of $352.20 million for the quarter, compared to analyst estimates of $345.17 million.

A number of hedge funds have recently made changes to their positions in the business. Royal Bank of Canada lifted its stake in Park-Ohio 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 acquiring an additional 37 shares during the last quarter. Bank of New York Mellon Corp raised its position in shares of Park-Ohio by 0.5% in the second quarter. Bank of New York Mellon Corp now owns 75,203 shares of the industrial products company’s stock valued at $2,866,000 after purchasing an additional 404 shares during the period. The Manufacturers Life Insurance Company raised its position in shares of Park-Ohio by 6.4% in the second quarter. The Manufacturers Life Insurance Company now owns 7,473 shares of the industrial products company’s stock valued at $285,000 after purchasing an additional 452 shares during the period. Teachers Advisors LLC raised its position in shares of Park-Ohio by 4.0% in the second quarter. Teachers Advisors LLC now owns 15,695 shares of the industrial products company’s stock valued at $598,000 after purchasing an additional 603 shares during the period. Finally, Martingale Asset Management L P raised its position in shares of Park-Ohio by 4.7% in the second quarter. Martingale Asset Management L P now owns 28,715 shares of the industrial products company’s stock valued at $1,095,000 after purchasing an additional 1,300 shares during the period. Hedge funds and other institutional investors own 55.93% of the company’s stock.

In other Park-Ohio news, Director Patrick W. Fogarty sold 13,500 shares of the stock in a transaction on Wednesday, November 29th. The shares were sold at an average price of $47.05, for a total value of $635,175.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, COO Matthew V. Crawford sold 4,122 shares of the stock in a transaction on Thursday, December 21st. The shares were sold at an average price of $44.38, for a total transaction of $182,934.36. Following the completion of the sale, the chief operating officer now owns 997,433 shares of the company’s stock, valued at approximately $44,266,076.54. The disclosure for this sale can be found here. In the last quarter, insiders sold 21,715 shares of company stock valued at $1,008,612. Corporate insiders own 31.00% of the company’s stock.

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Park-Ohio 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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