Zacks Investment Research upgraded shares of Park-Ohio (NASDAQ:PKOH) from a hold rating to a buy rating in a research report released on Saturday morning. Zacks Investment Research currently has $49.00 target price on the industrial products company’s stock.
According to Zacks, “Park Ohio Holdings Corp. operates through two segments, Manufactured Products and Logistics, which serve a wide variety of industrial markets. Manufactured Products designs and manufactures a broad range of high quality products engineered for specific customer applications. The principal customers of Manufactured Products are original equipment manufacturers and end-users in the automotive, railroad, truck and aerospace industries. Logistics is a leading national supplier of fasteners (e.g., nuts, bolts and screws) and other industrial products. “
Several other equities analysts have also weighed in on the company. BidaskClub lowered Park-Ohio from a buy rating to a hold rating in a report on Thursday, January 18th. ValuEngine lowered Park-Ohio from a strong-buy rating to a buy rating in a report on Thursday, November 9th. Finally, B. Riley restated a neutral rating on shares of Park-Ohio in a report on Wednesday, November 1st. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Park-Ohio has an average rating of Hold and an average target price of $43.00.
Park-Ohio (NASDAQ:PKOH) last released its quarterly earnings data on Monday, November 6th. The industrial products company reported $0.82 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.05). Park-Ohio had a net margin of 2.16% and a return on equity of 14.79%. The firm 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 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, March 1st. Shareholders of record on Thursday, February 15th will be issued a dividend of $0.125 per share. The ex-dividend date of this dividend is Wednesday, February 14th. This represents a $0.50 annualized dividend and a yield of 1.21%. Park-Ohio’s dividend payout ratio (DPR) is currently 21.19%.
In other Park-Ohio news, COO Matthew V. Crawford sold 4,122 shares of the firm’s stock in a transaction dated Thursday, December 21st. The stock was sold at an average price of $44.38, for a total transaction 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 transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Patrick W. Fogarty sold 13,500 shares of the firm’s stock in a transaction dated Wednesday, November 29th. The shares were sold at an average price of $47.05, for a total value of $635,175.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 21,715 shares of company stock worth $1,008,612. Corporate insiders own 31.00% of the company’s stock.
Several institutional investors have recently bought and sold shares of PKOH. Bank of New York Mellon Corp increased its stake in shares of Park-Ohio by 0.5% in 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 purchasing an additional 404 shares during the period. Teachers Advisors LLC increased its stake in shares of Park-Ohio by 4.0% in the second quarter. Teachers Advisors LLC now owns 15,695 shares of the industrial products company’s stock worth $598,000 after purchasing an additional 603 shares during the period. Ameriprise Financial Inc. bought a new position in shares of Park-Ohio in the second quarter worth about $228,000. Northern Trust Corp increased its stake in shares of Park-Ohio by 13.6% in the second quarter. Northern Trust Corp now owns 111,886 shares of the industrial products company’s stock worth $4,263,000 after purchasing an additional 13,412 shares during the period. Finally, Vanguard Group Inc. increased its stake in shares of Park-Ohio by 3.8% in the second quarter. Vanguard Group Inc. now owns 380,717 shares of the industrial products company’s stock worth $14,506,000 after purchasing an additional 13,983 shares during the period. Institutional investors and hedge funds own 55.55% of the company’s stock.
TRADEMARK VIOLATION NOTICE: This news story was originally reported by Community Financial News and is owned by of Community Financial News. If you are reading this news story on another website, it was stolen and reposted in violation of international copyright laws. The correct version of this news story can be read at https://www.com-unik.info/2018/02/07/park-ohio-pkoh-lifted-to-buy-at-zacks-investment-research.html.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Park-Ohio Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Park-Ohio and related companies with MarketBeat.com's FREE daily email newsletter.