Park-Ohio Holdings Corp. (PKOH) Upgraded by Zacks Investment Research to “Buy”
Park-Ohio Holdings Corp. (NASDAQ:PKOH) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Friday. The firm presently has a $44.00 price objective on the industrial products company’s stock. Zacks Investment Research‘s price target points to a potential upside of 13.26% from the stock’s current price.
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 brokerages have also weighed in on PKOH. TheStreet raised Park-Ohio Holdings Corp. from a “c” rating to a “b-” rating in a research report on Monday, May 8th. FBR & Co increased their target price on Park-Ohio Holdings Corp. from $33.00 to $37.00 and gave the stock a “mkt perform” rating in a research report on Wednesday. Finally, BidaskClub lowered Park-Ohio Holdings Corp. from a “hold” rating to a “sell” rating in a research report on Saturday, August 5th. One analyst has rated the stock with a sell rating and three have given a buy rating to the company’s stock. Park-Ohio Holdings Corp. has a consensus rating of “Buy” and an average target price of $45.25.
Park-Ohio Holdings Corp. (NASDAQ:PKOH) opened at 38.85 on Friday. The stock has a market capitalization of $473.93 million, a price-to-earnings ratio of 14.70 and a beta of 3.47. Park-Ohio Holdings Corp. has a 52-week low of $30.01 and a 52-week high of $47.00. The company has a 50-day moving average of $39.04 and a 200-day moving average of $39.10.
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 (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.85 by $0.02. The business had revenue of $350.90 million for the quarter, compared to analyst estimates of $355.83 million. Park-Ohio Holdings Corp. had a return on equity of 17.18% and a net margin of 2.50%. Equities research analysts expect that Park-Ohio Holdings Corp. will post $3.24 EPS for the current year.
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In other news, Director Patrick V. Auletta sold 2,010 shares of the firm’s stock in a transaction on Friday, June 9th. The stock was sold at an average price of $38.55, for a total transaction of $77,485.50. Following the transaction, the director now directly owns 18,645 shares of the company’s stock, valued at $718,764.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 31.00% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently modified their holdings of the stock. James Investment Research Inc. acquired a new position in shares of Park-Ohio Holdings Corp. during the first quarter worth approximately $2,230,000. Alambic Investment Management L.P. raised its position in shares of Park-Ohio Holdings Corp. by 20.2% in the first quarter. Alambic Investment Management L.P. now owns 26,135 shares of the industrial products company’s stock worth $940,000 after buying an additional 4,385 shares during the period. Citadel Advisors LLC acquired a new position in shares of Park-Ohio Holdings Corp. during the first quarter worth approximately $439,000. Strs Ohio raised its position in shares of Park-Ohio Holdings Corp. by 51.3% in the first quarter. Strs Ohio now owns 18,000 shares of the industrial products company’s stock worth $647,000 after buying an additional 6,100 shares during the period. Finally, FMR LLC raised its position in shares of Park-Ohio Holdings Corp. by 2.3% in the fourth quarter. FMR LLC now owns 68,060 shares of the industrial products company’s stock worth $2,899,000 after buying an additional 1,500 shares during the period. 55.89% of the stock is currently owned by institutional investors.
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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