Park-Ohio (NASDAQ:PKOH) Stock Rating Upgraded by Zacks Research

Park-Ohio (NASDAQ:PKOH) was upgraded by equities researchers at Zacks Research to a “hold” rating in a research report issued to clients and investors on Monday,Zacks.com reports.

A number of other research firms have also commented on PKOH. Weiss Ratings restated a “hold (c)” rating on shares of Park-Ohio in a research report on Thursday, January 22nd. KeyCorp upgraded Park-Ohio from a “sector weight” rating to an “overweight” rating and set a $37.00 price objective on the stock in a research report on Monday. One research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $37.00.

Park-Ohio Price Performance

Shares of NASDAQ PKOH opened at $27.45 on Monday. The stock has a market cap of $395.39 million, a price-to-earnings ratio of 16.34 and a beta of 1.16. The company has a debt-to-equity ratio of 1.74, a quick ratio of 1.32 and a current ratio of 2.56. Park-Ohio has a fifty-two week low of $15.52 and a fifty-two week high of $27.99. The firm’s 50-day simple moving average is $22.56 and its 200 day simple moving average is $20.86.

Insider Activity

In other news, Director Ronna Romney sold 2,975 shares of the firm’s stock in a transaction that occurred on Tuesday, December 2nd. The shares were sold at an average price of $20.29, for a total value of $60,362.75. Following the transaction, the director owned 28,944 shares in the company, valued at approximately $587,273.76. This trade represents a 9.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 31.51% of the company’s stock.

Institutional Trading of Park-Ohio

A number of hedge funds and other institutional investors have recently modified their holdings of PKOH. Gamco Investors INC. ET AL boosted its stake in shares of Park-Ohio by 14.1% during the 4th quarter. Gamco Investors INC. ET AL now owns 1,272,221 shares of the industrial products company’s stock worth $26,640,000 after acquiring an additional 156,890 shares during the last quarter. Teton Advisors LLC bought a new stake in shares of Park-Ohio during the 3rd quarter valued at $3,313,000. First Eagle Investment Management LLC lifted its stake in shares of Park-Ohio by 18.8% during the 2nd quarter. First Eagle Investment Management LLC now owns 386,025 shares of the industrial products company’s stock valued at $6,894,000 after buying an additional 61,132 shares in the last quarter. Assenagon Asset Management S.A. bought a new position in Park-Ohio in the 3rd quarter worth $1,079,000. Finally, Gabelli Funds LLC increased its stake in Park-Ohio by 4.6% in the 3rd quarter. Gabelli Funds LLC now owns 502,200 shares of the industrial products company’s stock worth $10,667,000 after buying an additional 22,000 shares in the last quarter. 51.38% of the stock is owned by hedge funds and other institutional investors.

About Park-Ohio

Park-Ohio Holdings Corp is a diversified industrial company that supplies engineered products and distribution services to a broad array of end markets. Through its two primary operating segments—Engineered Solutions and Supply Chain Solutions—the company delivers metal components, assemblies and value-added distribution tailored to energy, transportation, industrial and commercial applications.

The Engineered Solutions segment provides design, machining, fabrication and assembly of custom metal parts, including heat exchangers, welded assemblies, tubing products and precision-machined components.