Zacks Investment Research Upgrades Park-Ohio Holdings Corp. (PKOH) 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 note issued on Thursday. The brokerage currently has a $44.00 target price on the industrial products company’s stock. Zacks Investment Research‘s target price would indicate a potential upside of 9.45% from the stock’s previous close.
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. “
Other equities analysts have also issued reports about the stock. FBR & Co boosted their price target on shares of Park-Ohio Holdings Corp. from $33.00 to $37.00 and gave the company a “mkt perform” rating in a research report on Wednesday, August 9th. BidaskClub lowered shares of Park-Ohio Holdings Corp. from a “hold” rating to a “sell” rating in a research report on Saturday, August 5th. Finally, TheStreet upgraded shares of Park-Ohio Holdings Corp. from a “c” rating to a “b-” rating in a research report on Monday, May 8th. One research analyst has rated the stock with a hold rating and two have given a buy rating to the stock. Park-Ohio Holdings Corp. presently has an average rating of “Buy” and a consensus target price of $43.67.
Park-Ohio Holdings Corp. (NASDAQ PKOH) opened at 40.30 on Thursday. Park-Ohio Holdings Corp. has a one year low of $30.01 and a one year high of $47.00. The company has a market cap of $491.62 million, a PE ratio of 15.25 and a beta of 3.42. The firm has a 50-day moving average of $39.82 and a 200-day moving average of $38.61.
Park-Ohio Holdings Corp. (NASDAQ:PKOH) last released its quarterly earnings results on Monday, August 7th. The industrial products company reported $0.87 EPS for the quarter, beating the Zacks’ consensus estimate of $0.85 by $0.02. The firm had revenue of $350.90 million for the quarter, compared to analyst estimates of $355.83 million. Park-Ohio Holdings Corp. had a net margin of 2.50% and a return on equity of 16.90%. On average, analysts predict that Park-Ohio Holdings Corp. will post $3.24 EPS for the current year.
TRADEMARK VIOLATION NOTICE: This article was posted by Watch List News and is the property of of Watch List News. If you are reading this article on another site, it was illegally copied and republished in violation of U.S. and international copyright & trademark laws. The original version of this article can be viewed at https://www.watchlistnews.com/zacks-investment-research-upgrades-park-ohio-holdings-corp-pkoh-to-buy/1537969.html.
In related 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 of the company’s stock, valued at $3,333,156. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Patrick V. Auletta sold 2,010 shares of the business’s stock in a transaction that occurred 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 sale, the director now directly owns 18,645 shares of the company’s stock, valued at $718,764.75. The disclosure for this sale can be found here. Insiders own 31.00% of the company’s stock.
A number of large investors have recently modified their holdings of the stock. Russell Investments Group Ltd. increased its stake in shares of Park-Ohio Holdings Corp. by 31.7% in 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 last quarter. American International Group Inc. increased its stake in shares of Park-Ohio Holdings Corp. by 7.1% in 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 last quarter. Cornerstone Capital Management Holdings LLC. purchased a new stake in shares of Park-Ohio Holdings Corp. during the second quarter valued at approximately $197,000. Wedge Capital Management L L P NC increased its stake in shares of Park-Ohio Holdings Corp. by 3.8% in the first quarter. Wedge Capital Management L L P NC now owns 5,558 shares of the industrial products company’s stock valued at $200,000 after buying an additional 202 shares during the last quarter. Finally, Oxford Asset Management purchased a new stake in shares of Park-Ohio Holdings Corp. during the first quarter valued at approximately $202,000. 55.12% of the stock is owned by hedge funds and other institutional investors.
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.
Receive News & Ratings for Park-Ohio Holdings Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Park-Ohio Holdings Corp. and related companies with Analyst Ratings Network's FREE daily email newsletter.