Park-Ohio (PKOH) Downgraded to “Hold” at BidaskClub

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

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

Park-Ohio (PKOH) traded up $1.50 on Thursday, reaching $47.35. 23,937 shares of the company’s stock were exchanged, compared to its average volume of 24,625. The company has a quick ratio of 1.39, a current ratio of 2.36 and a debt-to-equity ratio of 1.79. Park-Ohio has a 12-month low of $34.25 and a 12-month high of $47.90. The firm has a market cap of $611.62, a price-to-earnings ratio of 20.06 and a beta of 3.47.

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

In related news, Director Patrick W. Fogarty sold 13,500 shares of the business’s stock in a transaction on Wednesday, November 29th. The shares were sold at an average price of $47.05, for a total value of $635,175.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Ronna Romney sold 3,000 shares of the business’s stock in a transaction on Monday, November 27th. The shares were sold at an average price of $46.41, for a total transaction of $139,230.00. Following the completion of the sale, the director now directly owns 24,478 shares in the company, valued at $1,136,023.98. The disclosure for this sale can be found here. Over the last three months, insiders have sold 21,715 shares of company stock worth $1,008,612. Insiders own 31.00% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Royal Bank of Canada lifted its position in Park-Ohio by 0.7% in the 2nd quarter. Royal Bank of Canada now owns 5,663 shares of the industrial products company’s stock valued at $216,000 after acquiring an additional 37 shares in the last quarter. Bank of New York Mellon Corp lifted 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 acquiring an additional 404 shares in the last quarter. The Manufacturers Life Insurance Company lifted 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 acquiring an additional 452 shares in the last quarter. Teachers Advisors LLC lifted 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 acquiring an additional 603 shares in the last quarter. Finally, Martingale Asset Management L P lifted its position in Park-Ohio by 4.7% in the 2nd quarter. Martingale Asset Management L P now owns 28,715 shares of the industrial products company’s stock valued at $1,095,000 after acquiring an additional 1,300 shares in the last quarter. 55.93% of the stock is currently owned by institutional investors and hedge funds.

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Park-Ohio Company Profile

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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