Park-Ohio (PKOH) Rating Increased to Buy at Zacks Investment Research

Park-Ohio (NASDAQ:PKOH) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Thursday. The brokerage currently has a $45.00 price objective on the industrial products company’s stock. Zacks Investment Research‘s target price points to a potential upside of 11.80% from the company’s previous close.

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. “

Several other research firms have also recently commented on PKOH. BidaskClub cut shares of Park-Ohio from a “buy” rating to a “hold” rating in a research report on Thursday, January 18th. B. Riley restated a “neutral” rating on shares of Park-Ohio in a research note on Wednesday, November 1st. Finally, ValuEngine lowered shares of Park-Ohio from a “strong-buy” rating to a “buy” rating in a research note on Thursday, November 9th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $41.00.

Park-Ohio (PKOH) opened at $40.25 on Thursday. Park-Ohio has a 1 year low of $34.25 and a 1 year high of $47.90. The company has a debt-to-equity ratio of 1.79, a quick ratio of 1.39 and a current ratio of 2.36. The company has a market cap of $508.74, a P/E ratio of 17.06 and a beta of 3.23.

In related news, COO Matthew V. Crawford sold 4,122 shares of Park-Ohio stock in a transaction that occurred on Thursday, December 21st. The shares were 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 in the company, valued at approximately $44,266,076.54. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Patrick W. Fogarty sold 13,500 shares of Park-Ohio stock in a transaction that occurred on Wednesday, November 29th. The shares were sold at an average price of $47.05, for a total transaction of $635,175.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 21,715 shares of company stock valued at $1,008,612. 31.00% of the stock is currently owned by company insiders.

A number of institutional investors have recently added to or reduced their stakes in the stock. Royal Bank of Canada grew its stake in Park-Ohio 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. The Manufacturers Life Insurance Company grew its stake in Park-Ohio by 6.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 7,473 shares of the industrial products company’s stock valued at $285,000 after buying an additional 452 shares in the last quarter. Teachers Advisors LLC grew its stake in Park-Ohio by 4.0% in the 2nd quarter. Teachers Advisors LLC now owns 15,695 shares of the industrial products company’s stock valued at $598,000 after buying an additional 603 shares in the last quarter. Bank of New York Mellon Corp grew its stake in Park-Ohio by 1.5% in the 3rd quarter. Bank of New York Mellon Corp now owns 76,337 shares of the industrial products company’s stock valued at $3,480,000 after buying an additional 1,134 shares in the last quarter. Finally, Martingale Asset Management L P grew its stake in Park-Ohio by 5.5% in the 4th quarter. Martingale Asset Management L P now owns 30,721 shares of the industrial products company’s stock valued at $1,412,000 after buying an additional 1,606 shares in the last quarter. Institutional investors and hedge funds own 55.18% of the company’s stock.

ILLEGAL ACTIVITY NOTICE: This piece of content was first reported by American Banking News and is owned by of American Banking News. If you are viewing this piece of content on another website, it was illegally copied and reposted in violation of United States & international trademark & copyright law. The legal version of this piece of content can be accessed at https://www.americanbankingnews.com/2018/02/15/park-ohio-pkoh-rating-increased-to-buy-at-zacks-investment-research.html.

About Park-Ohio

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.

Get a free copy of the Zacks research report on Park-Ohio (PKOH)

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.

Leave a Reply