Park-Ohio Holdings Corp. (PKOH) Stock Rating Lowered by 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 research note issued on Wednesday.
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 analysts have also recently weighed in on PKOH. ValuEngine cut shares of Park-Ohio Holdings Corp. from a “strong-buy” rating to a “buy” rating in a report on Monday, October 2nd. FBR & Co boosted their price target on shares of Park-Ohio Holdings Corp. from $33.00 to $37.00 and gave the stock a “mkt perform” rating in a report on Wednesday, August 9th. Finally, BidaskClub cut shares of Park-Ohio Holdings Corp. from a “hold” rating to a “sell” rating in a report on Saturday, August 5th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $45.00.
Park-Ohio Holdings Corp. (NASDAQ:PKOH) last released its quarterly earnings results on Monday, August 7th. The industrial products company reported $0.87 earnings per share for the quarter, topping the consensus estimate of $0.85 by $0.02. Park-Ohio Holdings Corp. had a net margin of 2.50% and a return on equity of 16.90%. The business had revenue of $350.90 million for the quarter, compared to analysts’ expectations of $355.83 million.
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In other Park-Ohio Holdings Corp. news, insider Robert D. Vilsack sold 7,436 shares of the business’s stock in a transaction dated Thursday, September 28th. The shares were sold at an average price of $45.02, for a total value of $334,768.72. Following the transaction, the insider now directly owns 103,527 shares in the company, valued at $4,660,785.54. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Robert D. Vilsack sold 1,471 shares of the business’s stock in a transaction dated Friday, September 29th. The shares were sold at an average price of $45.75, for a total transaction of $67,298.25. Following the completion of the transaction, the insider now owns 93,527 shares in the company, valued at $4,278,860.25. The disclosure for this sale can be found here. Over the last quarter, insiders sold 39,650 shares of company stock worth $1,647,828. Corporate insiders own 31.00% of the company’s stock.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in PKOH. Russell Investments Group Ltd. boosted its stake in 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 acquiring an additional 1,200 shares during the last quarter. American International Group Inc. boosted its stake in 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 acquiring an additional 346 shares during the last quarter. Cornerstone Capital Management Holdings LLC. purchased a new position in Park-Ohio Holdings Corp. in the second quarter valued at about $197,000. Oxford Asset Management purchased a new position in Park-Ohio Holdings Corp. in the first quarter valued at about $202,000. Finally, Royal Bank of Canada boosted its stake in 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 acquiring an additional 37 shares during the last quarter. Hedge funds and other institutional investors 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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