BidaskClub Lowers Park-Ohio (NASDAQ:PKOH) to Sell

BidaskClub lowered shares of Park-Ohio (NASDAQ:PKOH) from a hold rating to a sell rating in a report released on Friday morning, BidAskClub reports.

Several other equities research analysts have also commented on PKOH. B. Riley lowered their price objective on Park-Ohio from $40.00 to $30.00 and set a neutral rating on the stock in a research report on Monday, August 12th. Zacks Investment Research lowered shares of Park-Ohio from a hold rating to a strong sell rating in a report on Saturday, November 9th. Finally, ValuEngine cut shares of Park-Ohio from a sell rating to a strong sell rating in a research note on Monday, November 4th. Three analysts have rated the stock with a sell rating and one has issued a hold rating to the stock. The stock presently has a consensus rating of Sell and an average price target of $30.50.

Shares of PKOH opened at $31.49 on Friday. The company has a market capitalization of $393.41 million, a price-to-earnings ratio of 7.36 and a beta of 2.30. Park-Ohio has a 52 week low of $25.74 and a 52 week high of $38.77. The stock’s 50-day moving average price is $31.71 and its 200-day moving average price is $30.64. The company has a quick ratio of 1.32, a current ratio of 2.34 and a debt-to-equity ratio of 1.83.

Park-Ohio (NASDAQ:PKOH) last announced its quarterly earnings results on Tuesday, November 5th. The industrial products company reported $1.01 earnings per share for the quarter, missing the consensus estimate of $1.14 by ($0.13). Park-Ohio had a net margin of 2.78% and a return on equity of 16.27%. The company had revenue of $403.40 million for the quarter, compared to analysts’ expectations of $430.20 million. As a group, equities analysts anticipate that Park-Ohio will post 4.13 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Wednesday, November 13th were paid a $0.125 dividend. This represents a $0.50 annualized dividend and a dividend yield of 1.59%. The ex-dividend date was Tuesday, November 12th. Park-Ohio’s dividend payout ratio is currently 11.68%.

In other Park-Ohio news, CEO Matthew V. Crawford sold 5,000 shares of the business’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $33.09, for a total transaction of $165,450.00. Following the transaction, the chief executive officer now owns 999,936 shares of the company’s stock, valued at $33,087,882.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Matthew V. Crawford sold 6,600 shares of the company’s stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $33.30, for a total value of $219,780.00. Following the completion of the sale, the chief executive officer now owns 996,436 shares of the company’s stock, valued at $33,181,318.80. The disclosure for this sale can be found here. Insiders own 31.20% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the business. Panagora Asset Management Inc. purchased a new position in shares of Park-Ohio during the 2nd quarter worth $34,000. Royal Bank of Canada increased its position in Park-Ohio by 45.5% during the second quarter. Royal Bank of Canada now owns 1,164 shares of the industrial products company’s stock worth $38,000 after purchasing an additional 364 shares during the last quarter. Acadian Asset Management LLC increased its position in Park-Ohio by 58.9% during the second quarter. Acadian Asset Management LLC now owns 4,056 shares of the industrial products company’s stock worth $132,000 after purchasing an additional 1,504 shares during the last quarter. Zebra Capital Management LLC raised its stake in Park-Ohio by 16.4% during the third quarter. Zebra Capital Management LLC now owns 8,700 shares of the industrial products company’s stock worth $260,000 after purchasing an additional 1,223 shares during the period. Finally, Algert Global LLC raised its stake in Park-Ohio by 6.8% during the second quarter. Algert Global LLC now owns 8,862 shares of the industrial products company’s stock worth $289,000 after purchasing an additional 567 shares during the period. 55.18% of the stock is owned by institutional investors and hedge funds.

Park-Ohio Company Profile

Park-Ohio Holdings Corp. provides supply chain management outsourcing services, capital equipment, and manufactured components in the United States, Europe, Asia, Mexico, Canada, 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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