Park-Ohio (NASDAQ:PKOH) Rating Lowered to “Hold” at Zacks Research

Park-Ohio (NASDAQ:PKOH) was downgraded by research analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a report issued on Tuesday, Zacks reports.

A number of other equities analysts have also issued reports on PKOH. KeyCorp raised their price target on shares of Park-Ohio from $45.00 to $59.00 and gave the stock an “overweight” rating in a research report on Friday, August 7th. Wall Street Zen upgraded shares of Park-Ohio from a “buy” rating to a “strong-buy” rating in a research note on Thursday, August 13th. Finally, Weiss Ratings raised shares of Park-Ohio from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, October 8th. Two investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $59.00.

Park-Ohio Stock Down 1.5%

Shares of PKOH stock opened at $43.50 on Tuesday. The stock’s 50-day simple moving average is $46.04 and its 200-day simple moving average is $35.21. The company has a debt-to-equity ratio of 1.66, a quick ratio of 1.26 and a current ratio of 2.40. The firm has a market capitalization of $630.32 million, a PE ratio of 15.34, a P/E/G ratio of 1.13 and a beta of 1.34. Park-Ohio has a fifty-two week low of $18.06 and a fifty-two week high of $53.30.

Park-Ohio (NASDAQ:PKOH) last announced its quarterly earnings data on Wednesday, November 4th. The industrial products company reported $1.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.90 by $0.14. Park-Ohio had a return on equity of 10.55% and a net margin of 1.60%. The firm had revenue of $458.50 million during the quarter, compared to analysts’ expectations of $432.13 million. Equities analysts expect that Park-Ohio will post 3.26 earnings per share for the current year.

Insider Activity

In other Park-Ohio news, Director James W. Wert sold 3,000 shares of the company’s stock in a transaction that occurred on Thursday, September 24th. The stock was sold at an average price of $47.50, for a total value of $142,500.00. Following the sale, the director owned 85,456 shares in the company, valued at approximately $4,059,160. This represents a 3.39% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Robert D. Vilsack sold 3,190 shares of the firm’s stock in a transaction that occurred on Thursday, October 1st. The stock was sold at an average price of $46.42, for a total transaction of $148,079.80. Following the sale, the insider directly owned 144,024 shares in the company, valued at $6,685,594.08. The trade was a 2.17% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 52,330 shares of company stock worth $2,438,390. 31.10% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Park-Ohio

Several large investors have recently made changes to their positions in the company. Bank of New York Mellon Corp purchased a new position in Park-Ohio in the second quarter valued at $4,403,000. BlackRock Inc. acquired a new stake in shares of Park-Ohio during the 2nd quarter valued at about $28,189,000. JB Capital Partners LP acquired a new stake in shares of Park-Ohio during the 2nd quarter valued at about $4,672,389. CM Wealth Advisors LLC acquired a new stake in shares of Park-Ohio during the 2nd quarter valued at about $4,302,000. Finally, Hsbc Holdings PLC purchased a new position in shares of Park-Ohio in the 2nd quarter valued at about $549,000. 51.38% of the stock is currently owned by institutional investors and hedge funds.

About Park-Ohio

Park-Ohio Holdings Corp. (NASDAQ: PKOH) is a diversified manufacturing and supply-chain management company serving original equipment manufacturers and other industrial customers. Through its operating businesses, the company provides engineered products, component manufacturing, and integrated supply-chain services.

Park-Ohio’s manufacturing activities include the production of forged, machined, stamped, molded, and assembled components, as well as specialized products made from metal, rubber, and other materials.