Park-Ohio Holdings Corp. (PKOH) Rating Lowered to Hold at Zacks Investment Research

Park-Ohio Holdings Corp. (NASDAQ:PKOH) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Thursday.

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. “

PKOH has been the topic of several other research reports. ValuEngine upgraded shares of 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 research report on Saturday, August 5th. Finally, FBR & Co upped their price objective 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, August 9th. One 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 company’s stock. The company has a consensus rating of “Buy” and an average target price of $44.00.

Park-Ohio Holdings Corp. (NASDAQ PKOH) traded up 0.37% during trading on Thursday, hitting $40.40. 44,422 shares of the company were exchanged. Park-Ohio Holdings Corp. has a 1-year low of $30.01 and a 1-year high of $47.00. The stock has a market capitalization of $492.84 million, a PE ratio of 15.29 and a beta of 3.42. The firm’s 50 day moving average price is $39.76 and its 200-day moving average price is $38.34.

Park-Ohio Holdings Corp. (NASDAQ:PKOH) last issued its quarterly earnings results on Monday, August 7th. The industrial products company reported $0.87 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate 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 company had revenue of $350.90 million for the quarter, compared to the consensus estimate of $355.83 million. Equities analysts predict that Park-Ohio Holdings Corp. will post $3.24 EPS for the current year.

ILLEGAL ACTIVITY WARNING: This piece of content was originally reported by Chaffey Breeze and is the property of of Chaffey Breeze. If you are viewing this piece of content on another website, it was stolen and republished in violation of international trademark & copyright legislation. The legal version of this piece of content can be viewed at https://www.chaffeybreeze.com/2017/09/16/park-ohio-holdings-corp-pkoh-rating-lowered-to-hold-at-zacks-investment-research.html.

In other news, COO Matthew V. Crawford sold 15,808 shares of the 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 transaction, the chief operating officer now owns 1,032,645 shares in the company, valued at approximately $40,758,498.15. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, COO Matthew V. Crawford sold 4,192 shares of the stock in a transaction that occurred 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 owns 1,016,145 shares in the company, valued at approximately $40,859,190.45. The disclosure for this sale can be found here. Insiders have sold a total of 26,162 shares of company stock worth $1,041,861 in the last quarter. Insiders own 31.00% of the company’s stock.

Several large investors have recently made changes to their positions in PKOH. Teachers Advisors LLC lifted its position in shares of Park-Ohio Holdings Corp. by 4.4% during the 4th quarter. Teachers Advisors LLC now owns 13,842 shares of the industrial products company’s stock valued at $590,000 after buying an additional 581 shares in the last quarter. Strs Ohio lifted its position in shares of Park-Ohio Holdings Corp. by 51.3% during the 1st quarter. Strs Ohio now owns 18,000 shares of the industrial products company’s stock valued at $647,000 after buying an additional 6,100 shares in the last quarter. Russell Investments Group Ltd. lifted its position in shares of Park-Ohio Holdings Corp. by 31.7% during the 1st 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 in the last quarter. Bank of New York Mellon Corp lifted its position in shares of Park-Ohio Holdings Corp. by 3.0% during the 1st quarter. Bank of New York Mellon Corp now owns 74,799 shares of the industrial products company’s stock valued at $2,689,000 after buying an additional 2,164 shares in the last quarter. Finally, Oxford Asset Management purchased a new position in shares of Park-Ohio Holdings Corp. during the 1st quarter valued at approximately $202,000. Hedge funds and other institutional investors own 55.12% of the company’s stock.

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.

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 MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply