Zacks Research Upgrades Park-Ohio (NASDAQ:PKOH) to “Hold”

Park-Ohio (NASDAQ:PKOH) was upgraded by equities researchers at Zacks Research to a “hold” rating in a research note issued to investors on Monday,Zacks.com reports.

Other equities analysts also recently issued research reports about the company. KeyCorp raised Park-Ohio from a “sector weight” rating to an “overweight” rating and set a $37.00 target price on the stock in a research report on Monday. Weiss Ratings reiterated a “hold (c)” rating on shares of Park-Ohio in a research note on Thursday, January 22nd. One equities research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $37.00.

Park-Ohio Trading Up 6.6%

Shares of PKOH stock opened at $27.45 on Monday. The stock’s 50-day moving average price is $22.56 and its 200-day moving average price is $20.86. Park-Ohio has a 12-month low of $15.52 and a 12-month high of $27.99. The stock has a market capitalization of $395.39 million, a price-to-earnings ratio of 16.34 and a beta of 1.16. The company has a current ratio of 2.56, a quick ratio of 1.32 and a debt-to-equity ratio of 1.74.

Insider Activity

In other news, Director Ronna Romney sold 2,975 shares of the company’s stock in a transaction on Tuesday, December 2nd. The shares were sold at an average price of $20.29, for a total value of $60,362.75. Following the completion of the transaction, the director owned 28,944 shares in the company, valued at approximately $587,273.76. This represents a 9.32% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 31.51% of the company’s stock.

Hedge Funds Weigh In On Park-Ohio

A number of hedge funds and other institutional investors have recently made changes to their positions in PKOH. CWM LLC grew its holdings in shares of Park-Ohio by 238.4% during the third quarter. CWM LLC now owns 1,215 shares of the industrial products company’s stock valued at $26,000 after purchasing an additional 856 shares during the last quarter. Tower Research Capital LLC TRC boosted its holdings in Park-Ohio by 377.7% in the 2nd quarter. Tower Research Capital LLC TRC now owns 2,699 shares of the industrial products company’s stock valued at $48,000 after purchasing an additional 2,134 shares during the period. BNP Paribas Financial Markets boosted its stake in shares of Park-Ohio by 69.3% in the 3rd quarter. BNP Paribas Financial Markets now owns 2,602 shares of the industrial products company’s stock valued at $55,000 after purchasing an additional 1,065 shares in the last quarter. Jones Financial Companies Lllp acquired a new stake in Park-Ohio in the first quarter worth about $80,000. Finally, Russell Investments Group Ltd. raised its position in shares of Park-Ohio by 73.4% during the third quarter. Russell Investments Group Ltd. now owns 3,920 shares of the industrial products company’s stock worth $83,000 after purchasing an additional 1,659 shares during the period. Hedge funds and other institutional investors own 51.38% of the company’s stock.

Park-Ohio Company Profile

Park-Ohio Holdings Corp is a diversified industrial company that supplies engineered products and distribution services to a broad array of end markets. Through its two primary operating segments—Engineered Solutions and Supply Chain Solutions—the company delivers metal components, assemblies and value-added distribution tailored to energy, transportation, industrial and commercial applications.

The Engineered Solutions segment provides design, machining, fabrication and assembly of custom metal parts, including heat exchangers, welded assemblies, tubing products and precision-machined components.