Park-Ohio Holdings Corp. (NASDAQ:PKOH) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Friday, November 10th.
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 firms have also weighed in on PKOH. ValuEngine lowered Park-Ohio Holdings Corp. from a “strong-buy” rating to a “buy” rating in a report on Monday, October 2nd. FBR & Co reiterated a “hold” rating on shares of Park-Ohio Holdings Corp. in a research note on Thursday, October 5th. B. Riley reiterated a “neutral” rating on shares of Park-Ohio Holdings Corp. in a research note on Wednesday, November 1st. Finally, BidaskClub upgraded Park-Ohio Holdings Corp. from a “sell” rating to a “hold” rating in a research note on Wednesday, August 16th. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company. Park-Ohio Holdings Corp. presently has a consensus rating of “Hold” and an average price target of $44.67.
Park-Ohio Holdings Corp. (NASDAQ PKOH) traded down $0.35 during trading hours on Friday, reaching $46.45. The company had a trading volume of 25,400 shares, compared to its average volume of 32,377. Park-Ohio Holdings Corp. has a one year low of $34.25 and a one year high of $47.80. The stock has a market cap of $586.43, a price-to-earnings ratio of 15.45 and a beta of 3.52. The company has a quick ratio of 1.39, a current ratio of 2.36 and a debt-to-equity ratio of 1.79.
Park-Ohio Holdings Corp. (NASDAQ:PKOH) last released its quarterly earnings results on Monday, November 6th. The industrial products company reported $0.82 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.87 by ($0.05). Park-Ohio Holdings Corp. had a net margin of 2.16% and a return on equity of 14.79%. The company had revenue of $352.20 million for the quarter, compared to analysts’ expectations of $345.17 million. analysts anticipate that Park-Ohio Holdings Corp. will post 3.18 earnings per share for the current fiscal year.
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In other news, insider Robert D. Vilsack sold 1,471 shares of the firm’s stock in a transaction on Friday, September 29th. The stock was sold at an average price of $45.75, for a total transaction of $67,298.25. Following the transaction, the insider now owns 93,527 shares in the company, valued at $4,278,860.25. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Robert D. Vilsack sold 7,436 shares of the firm’s stock in a transaction on 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 owns 103,527 shares in the company, valued at approximately $4,660,785.54. The disclosure for this sale can be found here. In the last quarter, insiders sold 37,150 shares of company stock worth $1,545,828. Insiders own 31.00% of the company’s stock.
Institutional investors have recently made changes to their positions in the company. Russell Investments Group Ltd. increased its stake in shares of Park-Ohio Holdings Corp. by 31.7% during the first quarter. Russell Investments Group Ltd. now owns 4,981 shares of the industrial products company’s stock valued at $180,000 after buying an additional 1,200 shares during the period. Cornerstone Capital Management Holdings LLC. purchased a new position in shares of Park-Ohio Holdings Corp. during the second quarter valued at $197,000. American International Group Inc. increased its stake in shares of Park-Ohio Holdings Corp. by 7.1% during the first quarter. American International Group Inc. now owns 5,238 shares of the industrial products company’s stock valued at $188,000 after buying an additional 346 shares during the period. Royal Bank of Canada increased its stake in shares of Park-Ohio Holdings Corp. by 0.7% during the second quarter. Royal Bank of Canada now owns 5,663 shares of the industrial products company’s stock valued at $216,000 after buying an additional 37 shares during the period. Finally, Ameriprise Financial Inc. purchased a new position in shares of Park-Ohio Holdings Corp. during the second quarter valued at $228,000. Hedge funds and other institutional investors own 55.55% of the company’s stock.
About Park-Ohio Holdings Corp.
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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