Park-Ohio (PKOH) Downgraded by BidaskClub to Hold

Park-Ohio (NASDAQ:PKOH) was downgraded by investment analysts at BidaskClub from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Thursday.

A number of other brokerages have also recently issued reports on PKOH. ValuEngine cut Park-Ohio from a “strong-buy” rating to a “buy” rating in a report on Monday, October 2nd. FBR & Co restated a “hold” rating on shares of Park-Ohio in a report on Thursday, October 5th. Zacks Investment Research cut Park-Ohio from a “buy” rating to a “hold” rating in a report on Wednesday, October 11th. Finally, B. Riley reiterated a “neutral” rating on shares of Park-Ohio in a report on Wednesday, November 1st. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Park-Ohio currently has an average rating of “Hold” and a consensus price target of $42.00.

Park-Ohio (PKOH) opened at $43.15 on Thursday. The company has a current ratio of 2.36, a quick ratio of 1.39 and a debt-to-equity ratio of 1.79. Park-Ohio has a 1-year low of $34.25 and a 1-year high of $47.80. The stock has a market capitalization of $539.72, a PE ratio of 14.51 and a beta of 3.47.

Park-Ohio (NASDAQ:PKOH) last issued its earnings results on Monday, November 6th. The industrial products company reported $0.82 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.87 by ($0.05). Park-Ohio had a return on equity of 14.79% and a net margin of 2.16%. The company had revenue of $352.20 million for the quarter, compared to the consensus estimate of $345.17 million. sell-side analysts expect that Park-Ohio will post 3.18 EPS for the current year.

In other news, insider Robert D. Vilsack sold 7,436 shares of Park-Ohio stock in a transaction dated Thursday, September 28th. The stock was sold at an average price of $45.02, for a total transaction of $334,768.72. Following the transaction, the insider now owns 103,527 shares in the company, valued at approximately $4,660,785.54. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Robert D. Vilsack sold 1,093 shares of Park-Ohio stock in a transaction dated Wednesday, November 29th. The shares were sold at an average price of $46.91, for a total value of $51,272.63. The disclosure for this sale can be found here. Insiders have sold a total of 54,743 shares of company stock worth $2,371,506 in the last quarter. 31.00% of the stock is currently owned by company insiders.

Several large investors have recently added to or reduced their stakes in the company. Royal Bank of Canada lifted its holdings in shares of Park-Ohio by 0.7% during the 2nd quarter. Royal Bank of Canada now owns 5,663 shares of the industrial products company’s stock valued at $216,000 after purchasing an additional 37 shares in the last quarter. Bank of New York Mellon Corp raised its position in Park-Ohio by 0.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 75,203 shares of the industrial products company’s stock valued at $2,866,000 after buying an additional 404 shares during the last quarter. The Manufacturers Life Insurance Company raised its position in Park-Ohio by 6.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 7,473 shares of the industrial products company’s stock valued at $285,000 after buying an additional 452 shares during the last quarter. Teachers Advisors LLC raised its position in Park-Ohio by 4.0% in the 2nd quarter. Teachers Advisors LLC now owns 15,695 shares of the industrial products company’s stock valued at $598,000 after buying an additional 603 shares during the last quarter. Finally, Wedge Capital Management L L P NC raised its position in Park-Ohio by 11.2% in the 2nd quarter. Wedge Capital Management L L P NC now owns 6,180 shares of the industrial products company’s stock valued at $235,000 after buying an additional 622 shares during the last quarter. Institutional investors and hedge funds own 55.93% of the company’s stock.

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About Park-Ohio

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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