Park-Ohio (NASDAQ:PKOH) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors 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. “
Other equities analysts have also recently issued research reports about the company. B. Riley reissued a “neutral” rating on shares of Park-Ohio in a report on Wednesday, November 1st. BidaskClub cut Park-Ohio from a “buy” rating to a “hold” rating in a report on Thursday, December 7th. Finally, ValuEngine cut Park-Ohio from a “strong-buy” rating to a “buy” rating in a report on Thursday, November 9th. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Park-Ohio presently has a consensus rating of “Hold” and a consensus price target of $43.00.
Park-Ohio (NASDAQ:PKOH) last issued its quarterly earnings data on Monday, November 6th. The industrial products company reported $0.82 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.87 by ($0.05). The company had revenue of $352.20 million during the quarter, compared to analyst estimates of $345.17 million. Park-Ohio had a net margin of 2.16% and a return on equity of 14.79%. research analysts expect that Park-Ohio will post 3.18 EPS for the current year.
In related news, Director Patrick W. Fogarty sold 13,500 shares of the company’s stock in a transaction dated Wednesday, November 29th. The stock was sold at an average price of $47.05, for a total value of $635,175.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Matthew V. Crawford sold 4,122 shares of the company’s stock in a transaction dated Thursday, December 21st. The stock was sold at an average price of $44.38, for a total value of $182,934.36. Following the completion of the transaction, the chief operating officer now directly 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 three months, insiders sold 21,715 shares of company stock valued at $1,008,612. Insiders own 31.00% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. California Public Employees Retirement System raised its holdings in Park-Ohio by 8.1% in the 4th quarter. California Public Employees Retirement System now owns 42,672 shares of the industrial products company’s stock worth $1,961,000 after purchasing an additional 3,202 shares during the period. Alambic Investment Management L.P. raised its holdings in Park-Ohio by 12.2% in the 4th quarter. Alambic Investment Management L.P. now owns 22,116 shares of the industrial products company’s stock worth $1,016,000 after purchasing an additional 2,400 shares during the period. Algert Global LLC raised its holdings in Park-Ohio by 12.4% in the 4th quarter. Algert Global LLC now owns 49,838 shares of the industrial products company’s stock worth $2,290,000 after purchasing an additional 5,490 shares during the period. Deprince Race & Zollo Inc. raised its holdings in Park-Ohio by 8.8% in the 4th quarter. Deprince Race & Zollo Inc. now owns 187,699 shares of the industrial products company’s stock worth $8,625,000 after purchasing an additional 15,124 shares during the period. Finally, Foundry Partners LLC raised its holdings in Park-Ohio by 2.7% in the 4th quarter. Foundry Partners LLC now owns 81,379 shares of the industrial products company’s stock worth $3,739,000 after purchasing an additional 2,136 shares during the period. 55.55% of the stock is owned by institutional investors.
TRADEMARK VIOLATION NOTICE: “Park-Ohio (PKOH) Lowered to “Hold” at Zacks Investment Research” was first reported by American Banking News and is the sole property of of American Banking News. If you are accessing this news story on another site, it was illegally stolen and reposted in violation of US and international trademark and copyright laws. The original version of this news story can be viewed at https://www.americanbankingnews.com/2018/02/08/park-ohio-pkoh-lowered-to-hold-at-zacks-investment-research.html.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Park-Ohio Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Park-Ohio and related companies with MarketBeat.com's FREE daily email newsletter.