Park-Ohio Holdings Corp. (PKOH) Lifted to “Buy” at Zacks Investment Research
Zacks Investment Research upgraded shares of Park-Ohio Holdings Corp. (NASDAQ:PKOH) from a hold rating to a buy rating in a report issued on Friday morning. The firm currently has $46.00 price target on the industrial products company’s stock.
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 issued reports on PKOH. ValuEngine raised Park-Ohio Holdings Corp. from a buy rating to a strong-buy rating in a report on Wednesday, September 6th. BidaskClub lowered Park-Ohio Holdings Corp. from a hold rating to a sell rating in a report on Saturday, August 5th. Finally, FBR & Co upped their target price on Park-Ohio Holdings Corp. from $33.00 to $37.00 and gave the company a mkt perform rating in a report on Wednesday, August 9th. One investment analyst has rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of Buy and an average target price of $44.33.
Park-Ohio Holdings Corp. (NASDAQ:PKOH) opened at 43.55 on Friday. Park-Ohio Holdings Corp. has a 12-month low of $30.01 and a 12-month high of $47.00. The company’s 50 day moving average price is $39.86 and its 200-day moving average price is $38.21. The company has a market capitalization of $531.27 million, a P/E ratio of 16.48 and a beta of 3.42.
Park-Ohio Holdings Corp. (NASDAQ:PKOH) last posted its quarterly earnings results on Monday, August 7th. The industrial products company reported $0.87 earnings per share for the quarter, topping analysts’ consensus estimates of $0.85 by $0.02. Park-Ohio Holdings Corp. had a return on equity of 16.90% and a net margin of 2.50%. The business had revenue of $350.90 million for the quarter, compared to the consensus estimate of $355.83 million. Equities analysts forecast that Park-Ohio Holdings Corp. will post $3.24 earnings per share for the current fiscal year.
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In other Park-Ohio Holdings Corp. news, COO Matthew V. Crawford sold 15,808 shares of the stock in a transaction on Monday, September 11th. The stock was sold at an average price of $39.47, for a total transaction of $623,941.76. Following the completion of the transaction, the chief operating officer now directly owns 1,032,645 shares of the company’s stock, valued at $40,758,498.15. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO Matthew V. Crawford sold 4,192 shares of the stock in a transaction on Wednesday, September 13th. The shares were sold at an average price of $40.21, for a total value of $168,560.32. Following the transaction, the chief operating officer now directly owns 1,016,145 shares of the company’s stock, valued at $40,859,190.45. The disclosure for this sale can be found here. Over the last three months, insiders have sold 26,162 shares of company stock valued at $1,041,861. 31.00% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the business. Russell Investments Group Ltd. grew its holdings in 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 purchasing an additional 1,200 shares during the period. Cornerstone Capital Management Holdings LLC. bought a new position in Park-Ohio Holdings Corp. during the second quarter valued at $197,000. American International Group Inc. grew its holdings in 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 purchasing an additional 346 shares during the period. Oxford Asset Management bought a new position in Park-Ohio Holdings Corp. during the first quarter valued at $202,000. Finally, Royal Bank of Canada grew its holdings in 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 purchasing an additional 37 shares during the period. 55.12% of the stock is owned by institutional investors and hedge funds.
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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