Park-Ohio Holdings Corp. (PKOH) Lowered to Hold at Zacks Investment Research
Zacks Investment Research cut shares of Park-Ohio Holdings Corp. (NASDAQ:PKOH) from a buy rating to a hold rating in a research note issued to investors on Wednesday.
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. “
A number of other research firms also recently issued reports on PKOH. FBR & Co boosted their target price on shares of 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. BidaskClub upgraded shares of Park-Ohio Holdings Corp. from a sell rating to a hold rating in a report on Wednesday, August 16th. Finally, ValuEngine upgraded shares of Park-Ohio Holdings Corp. from a buy rating to a strong-buy rating in a report on Wednesday, September 6th. One equities research analyst has rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. Park-Ohio Holdings Corp. has a consensus rating of Buy and an average target price of $45.00.
Shares of Park-Ohio Holdings Corp. (PKOH) opened at 45.60 on Wednesday. Park-Ohio Holdings Corp. has a 12-month low of $30.01 and a 12-month high of $47.00. The firm’s 50-day moving average is $39.86 and its 200-day moving average is $38.21. The firm has a market capitalization of $556.27 million, a price-to-earnings ratio of 17.26 and a beta of 3.42.
Park-Ohio Holdings Corp. (NASDAQ:PKOH) last released its earnings results on Monday, August 7th. The industrial products company reported $0.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.85 by $0.02. Park-Ohio Holdings Corp. had a net margin of 2.50% and a return on equity of 16.90%. The firm had revenue of $350.90 million during the quarter, compared to the consensus estimate of $355.83 million. Equities research analysts forecast that Park-Ohio Holdings Corp. will post $3.24 EPS for the current fiscal year.
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In other Park-Ohio Holdings Corp. news, Director James W. Wert sold 2,500 shares of the business’s stock in a transaction that occurred on Wednesday, August 16th. The shares were sold at an average price of $40.80, for a total transaction of $102,000.00. Following the completion of the sale, the director now directly owns 81,695 shares in the company, valued at $3,333,156. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Matthew V. Crawford sold 15,808 shares of the business’s stock in a transaction that occurred 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 sale, the chief operating officer now owns 1,032,645 shares of the company’s stock, valued at $40,758,498.15. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 38,179 shares of company stock valued at $1,580,530. 31.00% of the stock is owned by insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Royal Bank of Canada grew its stake 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 worth $216,000 after buying an additional 37 shares during the period. Massachusetts Financial Services Co. MA grew its stake in Park-Ohio Holdings Corp. by 1.2% during the first quarter. Massachusetts Financial Services Co. MA now owns 20,904 shares of the industrial products company’s stock worth $751,000 after buying an additional 249 shares during the period. American International Group Inc. grew its stake 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 worth $188,000 after buying an additional 346 shares during the period. Bank of New York Mellon Corp grew its stake in Park-Ohio Holdings Corp. by 0.5% during the second quarter. Bank of New York Mellon Corp now owns 75,203 shares of the industrial products company’s stock worth $2,866,000 after buying an additional 404 shares during the period. Finally, The Manufacturers Life Insurance Company grew its stake in Park-Ohio Holdings Corp. by 6.4% during the second quarter. The Manufacturers Life Insurance Company now owns 7,473 shares of the industrial products company’s stock worth $285,000 after buying an additional 452 shares during the period. Institutional investors own 55.12% of the company’s stock.
Park-Ohio Holdings Corp. Company Profile
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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