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

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

Other equities analysts have also issued reports about the stock. Wall Street Zen upgraded shares of Park-Ohio from a “buy” rating to a “strong-buy” rating in a report on Thursday, August 13th. 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 report on Friday, August 7th. Finally, Weiss Ratings upgraded shares of Park-Ohio from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, October 8th. Two analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $59.00.

Park-Ohio Price Performance

Shares of Park-Ohio stock opened at $43.50 on Tuesday. The business has a 50 day simple moving average of $46.04 and a two-hundred day simple moving average of $35.21. The company has a debt-to-equity ratio of 1.66, a current ratio of 2.40 and a quick ratio of 1.26. The stock has a market capitalization of $630.32 million, a P/E ratio of 15.34, a PEG ratio of 1.13 and a beta of 1.34. Park-Ohio has a 12 month low of $18.06 and a 12 month 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 EPS for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $432.13 million. As a group, analysts predict that Park-Ohio will post 3.26 EPS for the current fiscal year.

Insider Transactions at Park-Ohio

In related news, Director James Wert sold 3,000 shares of the firm’s stock in a transaction dated Thursday, September 24th. The stock was sold at an average price of $47.50, for a total transaction of $142,500.00. Following the completion of the sale, the director directly owned 85,456 shares of the company’s stock, valued at approximately $4,059,160. This trade represents a 3.39% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Robert Vilsack sold 3,190 shares of the business’s stock in a transaction dated Thursday, October 1st. The shares were sold at an average price of $46.42, for a total transaction of $148,079.80. Following the completion of the sale, the insider owned 144,024 shares in the company, valued at approximately $6,685,594.08. This trade represents a 2.17% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 52,330 shares of company stock valued at $2,438,390 over the last three months. Corporate insiders own 31.10% of the company’s stock.

Institutional Trading of Park-Ohio

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. purchased a new stake in shares of Park-Ohio in the 2nd quarter valued at $28,189,000. JB Capital Partners LP purchased a new stake in shares of Park-Ohio during the second quarter worth approximately $4,672,389. Bank of New York Mellon Corp acquired a new stake in Park-Ohio in the second quarter valued at approximately $4,403,000. CM Wealth Advisors LLC purchased a new position in Park-Ohio in the second quarter worth approximately $4,302,000. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new position in Park-Ohio in the second quarter worth approximately $2,235,000. Hedge funds and other institutional investors own 51.38% of the company’s stock.

Park-Ohio Company Profile

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.