Park-Ohio Holdings Corp. (PKOH) Downgraded 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 released on Wednesday morning.

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 research analysts have also recently issued reports about the stock. FBR & Co increased their price objective 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 cut shares of Park-Ohio Holdings Corp. from a hold rating to a sell rating in a report on Saturday, August 5th. Finally, ValuEngine cut shares of Park-Ohio Holdings Corp. from a strong-buy rating to a buy rating in a report on Monday, October 2nd. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. Park-Ohio Holdings Corp. presently has an average rating of Hold and an average price target of $45.00.

Shares of Park-Ohio Holdings Corp. (PKOH) traded up 1.10% during midday trading on Wednesday, hitting $46.05. The stock had a trading volume of 21,975 shares. The firm has a 50 day moving average of $42.19 and a 200-day moving average of $39.13. The company has a market cap of $561.76 million, a P/E ratio of 17.43 and a beta of 3.46. Park-Ohio Holdings Corp. has a one year low of $30.01 and a one year high of $47.00.

Park-Ohio Holdings Corp. (NASDAQ:PKOH) last posted its quarterly earnings data on Monday, August 7th. The industrial products company reported $0.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.85 by $0.02. The business had revenue of $350.90 million during the quarter, compared to analysts’ expectations 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 forecast that Park-Ohio Holdings Corp. will post $3.25 earnings per share for the current fiscal year.

ILLEGAL ACTIVITY NOTICE: “Park-Ohio Holdings Corp. (PKOH) Downgraded to “Hold” at Zacks Investment Research” was first reported by Sports Perspectives and is the property of of Sports Perspectives. If you are reading this piece of content on another domain, it was stolen and reposted in violation of US & international trademark & copyright laws. The correct version of this piece of content can be viewed at https://sportsperspectives.com/2017/10/12/park-ohio-holdings-corp-pkoh-downgraded-to-hold-at-zacks-investment-research.html.

In related news, insider Robert D. Vilsack sold 7,436 shares of the firm’s stock in a transaction that occurred on Thursday, September 28th. The shares were sold at an average price of $45.02, for a total transaction of $334,768.72. Following the completion of the sale, the insider now directly owns 103,527 shares in the company, valued at $4,660,785.54. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director James W. Wert sold 2,500 shares of the firm’s stock in a transaction that occurred on Wednesday, August 16th. The stock was sold at an average price of $40.80, for a total transaction of $102,000.00. Following the sale, the director now owns 81,695 shares of the company’s stock, valued at $3,333,156. The disclosure for this sale can be found here. Insiders have sold 39,650 shares of company stock valued at $1,647,828 over the last 90 days. 31.00% of the stock is currently owned by insiders.

A number of large investors have recently modified their holdings of the stock. Royal Bank of Canada boosted its holdings 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 in the last quarter. Massachusetts Financial Services Co. MA boosted its holdings 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 in the last quarter. American International Group Inc. boosted its holdings 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 in the last quarter. Bank of New York Mellon Corp boosted its holdings 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 in the last quarter. Finally, The Manufacturers Life Insurance Company boosted its holdings 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 in the last quarter. Hedge funds and other 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.

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