Park-Ohio Holdings Corp. (PKOH) Cut to “Hold” at Zacks Investment Research
Park-Ohio Holdings Corp. (NASDAQ:PKOH) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued 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. “
PKOH has been the topic of a number of other research reports. ValuEngine upgraded Park-Ohio Holdings Corp. from a “buy” rating to a “strong-buy” rating in a report on Wednesday, September 6th. BidaskClub upgraded Park-Ohio Holdings Corp. from a “sell” rating to a “hold” rating in a report on Wednesday, August 16th. Finally, FBR & Co raised their price objective on Park-Ohio Holdings Corp. from $33.00 to $37.00 and gave the company a “mkt perform” rating in a report on Wednesday, August 9th. Two analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company’s stock. Park-Ohio Holdings Corp. has an average rating of “Buy” and an average price target of $43.67.
Park-Ohio Holdings Corp. (NASDAQ:PKOH) opened at 40.35 on Thursday. Park-Ohio Holdings Corp. has a 52-week low of $30.01 and a 52-week high of $47.00. The firm has a 50 day moving average of $39.76 and a 200-day moving average of $38.34. The company has a market capitalization of $492.23 million, a price-to-earnings ratio of 15.27 and a beta of 3.42.
Park-Ohio Holdings Corp. (NASDAQ:PKOH) last announced its quarterly earnings data on Monday, August 7th. The industrial products company reported $0.87 earnings per share for the quarter, beating analysts’ consensus estimates of $0.85 by $0.02. The company had revenue of $350.90 million for the quarter, compared to analyst estimates of $355.83 million. Park-Ohio Holdings Corp. had a return on equity of 16.90% and a net margin of 2.50%. Equities analysts expect that Park-Ohio Holdings Corp. will post $3.24 EPS for the current year.
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In other Park-Ohio Holdings Corp. news, Director James W. Wert sold 2,500 shares of the firm’s stock in a transaction 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 transaction, the director now owns 81,695 shares in the company, valued at approximately $3,333,156. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Matthew V. Crawford sold 15,808 shares of Park-Ohio Holdings Corp. stock in a transaction on Monday, September 11th. The stock was sold at an average price of $39.47, for a total value of $623,941.76. Following the transaction, the chief operating officer now owns 1,032,645 shares in the company, valued at approximately $40,758,498.15. The disclosure for this sale can be found here. Insiders sold a total of 26,162 shares of company stock worth $1,041,861 in the last 90 days. 31.00% of the stock is currently owned by insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Dimensional Fund Advisors LP raised its holdings in shares of Park-Ohio Holdings Corp. by 8.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 717,368 shares of the industrial products company’s stock worth $27,332,000 after acquiring an additional 55,315 shares during the period. Private Management Group Inc. raised its holdings in shares of Park-Ohio Holdings Corp. by 0.7% during the 1st quarter. Private Management Group Inc. now owns 634,391 shares of the industrial products company’s stock worth $22,806,000 after acquiring an additional 4,409 shares during the period. Vanguard Group Inc. raised its holdings in shares of Park-Ohio Holdings Corp. by 3.8% during the 2nd quarter. Vanguard Group Inc. now owns 380,717 shares of the industrial products company’s stock worth $14,506,000 after acquiring an additional 13,983 shares during the period. Blair William & Co. IL raised its holdings in shares of Park-Ohio Holdings Corp. by 1.3% during the 2nd quarter. Blair William & Co. IL now owns 203,192 shares of the industrial products company’s stock worth $7,742,000 after acquiring an additional 2,665 shares during the period. Finally, Deprince Race & Zollo Inc. purchased a new position in shares of Park-Ohio Holdings Corp. during the 2nd quarter worth $5,744,000. Institutional investors and hedge funds own 55.12% of the company’s stock.
Park-Ohio Holdings Corp. 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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