Park-Ohio (NASDAQ:PKOH) Rating Increased to Sell at BidaskClub

Park-Ohio (NASDAQ:PKOH) was upgraded by BidaskClub from a “strong sell” rating to a “sell” rating in a report issued on Thursday, April 4th, BidAskClub reports.

PKOH has been the subject of a number of other reports. Zacks Investment Research lowered shares of Park-Ohio from a “buy” rating to a “hold” rating in a report on Wednesday, January 9th. ValuEngine lowered shares of Park-Ohio from a “hold” rating to a “sell” rating in a report on Thursday, December 6th. Finally, TheStreet lowered shares of Park-Ohio from a “b-” rating to a “c+” rating in a report on Wednesday, December 19th. One equities research analyst has rated the stock with a sell rating and three have issued a hold rating to the stock. Park-Ohio currently has an average rating of “Hold” and a consensus price target of $39.00.

NASDAQ:PKOH traded up $0.24 during mid-day trading on Thursday, hitting $36.21. 11,176 shares of the stock traded hands, compared to its average volume of 25,215. The stock has a market cap of $467.33 million, a P/E ratio of 8.46 and a beta of 2.35. Park-Ohio has a 12-month low of $28.01 and a 12-month high of $43.15. The company has a current ratio of 2.41, a quick ratio of 1.35 and a debt-to-equity ratio of 1.75.

Park-Ohio (NASDAQ:PKOH) last released its quarterly earnings results on Monday, March 4th. The industrial products company reported $1.20 EPS for the quarter, topping the Zacks’ consensus estimate of $0.88 by $0.32. Park-Ohio had a net margin of 3.23% and a return on equity of 17.24%. The business had revenue of $405.90 million during the quarter, compared to analysts’ expectations of $410.37 million. On average, equities analysts forecast that Park-Ohio will post 4.43 earnings per share for the current fiscal year.

In other news, Director Ronna Romney sold 2,195 shares of the company’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $32.99, for a total value of $72,413.05. Following the sale, the director now directly owns 16,900 shares of the company’s stock, valued at approximately $557,531. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 31.20% of the stock is owned by corporate insiders.

A number of hedge funds have recently made changes to their positions in PKOH. First Trust Advisors LP grew its position in Park-Ohio by 33.7% during the 3rd quarter. First Trust Advisors LP now owns 13,248 shares of the industrial products company’s stock valued at $508,000 after purchasing an additional 3,341 shares during the last quarter. Wells Fargo & Company MN lifted its stake in Park-Ohio by 36.1% during the 3rd quarter. Wells Fargo & Company MN now owns 50,613 shares of the industrial products company’s stock valued at $1,941,000 after acquiring an additional 13,419 shares during the period. JPMorgan Chase & Co. lifted its stake in Park-Ohio by 8.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 32,054 shares of the industrial products company’s stock valued at $1,229,000 after acquiring an additional 2,384 shares during the period. BlackRock Inc. lifted its stake in Park-Ohio by 2.9% during the 3rd quarter. BlackRock Inc. now owns 553,007 shares of the industrial products company’s stock valued at $21,209,000 after acquiring an additional 15,371 shares during the period. Finally, FMR LLC lifted its stake in Park-Ohio by 5.8% during the 3rd quarter. FMR LLC now owns 67,225 shares of the industrial products company’s stock valued at $2,578,000 after acquiring an additional 3,713 shares during the period. 54.06% of the stock is currently owned by institutional investors.

Park-Ohio Company Profile

Park-Ohio Holdings Corp., through its subsidiaries, provides supply chain management outsourcing services, capital equipment, and manufactured components in the United States, Asia, Europe, Canada, Mexico, and internationally. The company's Supply Technologies segment offers Total Supply Management solution, including engineering and design support, part usage and cost analysis, supplier selection, quality assurance, bar coding, product packaging and tracking, just-in-time and point-of-use delivery, electronic billing, and ongoing technical support services, as well as provides spare parts and aftermarket products; and production components, including valves, fuel hose assemblies, electro-mechanical hardware, labels, fittings, steering components, and other products.

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