BidaskClub downgraded shares of Park-Ohio (NASDAQ:PKOH) from a sell rating to a strong sell rating in a research report released on Friday morning.
Several other analysts also recently issued reports on PKOH. TheStreet upgraded Park-Ohio from a c+ rating to a b- rating in a research report on Friday, June 15th. Zacks Investment Research downgraded Park-Ohio from a buy rating to a hold rating in a research report on Wednesday, July 11th. Finally, ValuEngine downgraded Park-Ohio from a hold rating to a sell rating in a research report on Thursday, July 12th. Two analysts have rated the stock with a sell rating and two have assigned a hold rating to the company. The stock currently has a consensus rating of Hold and a consensus price target of $45.00.
Shares of NASDAQ:PKOH traded down $0.69 on Friday, hitting $35.67. The company had a trading volume of 28,565 shares, compared to its average volume of 23,056. The company has a quick ratio of 1.54, a current ratio of 2.55 and a debt-to-equity ratio of 1.92. Park-Ohio has a 52-week low of $34.95 and a 52-week high of $47.90. The company has a market capitalization of $491.93 million, a P/E ratio of 11.04 and a beta of 2.85.
Park-Ohio (NASDAQ:PKOH) last issued its quarterly earnings data on Thursday, August 9th. The industrial products company reported $1.08 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.94 by $0.14. Park-Ohio had a return on equity of 15.68% and a net margin of 2.60%. The business had revenue of $432.20 million for the quarter, compared to the consensus estimate of $397.83 million. On average, sell-side analysts anticipate that Park-Ohio will post 3.89 earnings per share for the current year.
In related news, insider Edward F. Crawford sold 48,186 shares of the company’s stock in a transaction on Tuesday, August 28th. The stock was sold at an average price of $40.59, for a total value of $1,955,869.74. Following the completion of the transaction, the insider now directly owns 1,522,148 shares in the company, valued at $61,783,987.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 31.20% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP increased its stake in Park-Ohio by 4.4% in the second quarter. Dimensional Fund Advisors LP now owns 846,751 shares of the industrial products company’s stock valued at $31,584,000 after purchasing an additional 35,491 shares during the last quarter. Gamco Investors INC. ET AL increased its stake in Park-Ohio by 1.3% in the second quarter. Gamco Investors INC. ET AL now owns 769,600 shares of the industrial products company’s stock valued at $28,706,000 after purchasing an additional 9,700 shares during the last quarter. Private Management Group Inc. increased its stake in Park-Ohio by 1.2% in the second quarter. Private Management Group Inc. now owns 646,557 shares of the industrial products company’s stock valued at $24,117,000 after purchasing an additional 7,376 shares during the last quarter. BlackRock Inc. increased its stake in Park-Ohio by 9.6% in the second quarter. BlackRock Inc. now owns 537,636 shares of the industrial products company’s stock valued at $20,052,000 after purchasing an additional 47,018 shares during the last quarter. Finally, Royce & Associates LP increased its stake in Park-Ohio by 4.1% in the second quarter. Royce & Associates LP now owns 178,666 shares of the industrial products company’s stock valued at $6,664,000 after purchasing an additional 6,978 shares during the last quarter. Hedge funds and other institutional investors own 53.93% of the company’s stock.
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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