Park-Ohio (PKOH) Rating Lowered to Hold at BidaskClub

BidaskClub downgraded shares of Park-Ohio (NASDAQ:PKOH) from a buy rating to a hold rating in a research report sent to investors on Thursday, December 7th.

Several other equities analysts have also recently issued reports on PKOH. B. Riley restated a neutral rating on shares of Park-Ohio in a research note on Wednesday, November 1st. FBR & Co raised their target price on Park-Ohio from $33.00 to $37.00 and gave the company a mkt perform rating in a research note on Wednesday, August 9th. ValuEngine upgraded Park-Ohio from a buy rating to a strong-buy rating in a research note on Wednesday, September 6th. Finally, Zacks Investment Research upgraded Park-Ohio from a hold rating to a buy rating and set a $46.00 target price on the stock in a research note on Saturday, August 19th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Park-Ohio currently has an average rating of Hold and an average price target of $42.00.

Shares of Park-Ohio (PKOH) traded down $0.50 on Thursday, reaching $45.45. The company had a trading volume of 15,189 shares, compared to its average volume of 27,100. Park-Ohio has a 52-week low of $34.25 and a 52-week high of $47.80. The company has a market capitalization of $575.78, a PE ratio of 19.26 and a beta of 3.47. The company has a debt-to-equity ratio of 1.79, a current ratio of 2.36 and a quick ratio of 1.39.

Park-Ohio (NASDAQ:PKOH) last announced its quarterly earnings data on Monday, November 6th. The industrial products company reported $0.82 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ 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 firm had revenue of $352.20 million for the quarter, compared to the consensus estimate of $345.17 million. sell-side analysts predict that Park-Ohio will post 3.18 EPS for the current year.

In other news, insider Robert D. Vilsack sold 1,093 shares of the firm’s stock in a transaction on Wednesday, November 29th. The stock was sold at an average price of $46.91, for a total transaction of $51,272.63. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, COO Matthew V. Crawford sold 4,122 shares of the firm’s stock in a transaction on Thursday, December 21st. The shares were sold at an average price of $44.38, for a total value of $182,934.36. Following the transaction, the chief operating officer now directly owns 997,433 shares in the company, valued at $44,266,076.54. The disclosure for this sale can be found here. Insiders sold 21,715 shares of company stock worth $1,008,612 over the last quarter. 31.00% of the stock is currently owned by company insiders.

Several institutional investors and hedge funds have recently modified their holdings of the company. Royal Bank of Canada increased its holdings in shares of Park-Ohio by 0.7% during the second 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 during the period. Bank of New York Mellon Corp grew its holdings in Park-Ohio 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 acquiring an additional 404 shares during the period. The Manufacturers Life Insurance Company grew its holdings in Park-Ohio 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 acquiring an additional 452 shares during the period. Teachers Advisors LLC grew its holdings in Park-Ohio by 4.0% during the second quarter. Teachers Advisors LLC now owns 15,695 shares of the industrial products company’s stock worth $598,000 after acquiring an additional 603 shares during the period. Finally, Wedge Capital Management L L P NC grew its holdings in Park-Ohio by 11.2% during the second quarter. Wedge Capital Management L L P NC now owns 6,180 shares of the industrial products company’s stock worth $235,000 after acquiring an additional 622 shares during the period. 55.93% of the stock is currently owned by institutional investors.

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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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