Park-Ohio (NASDAQ:PKOH) Stock Rating Lowered by Zacks Research

Park-Ohio (NASDAQ:PKOH) was downgraded by stock analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a note issued to investors on Tuesday, Zacks reports.

PKOH has been the topic of several other reports. Wall Street Zen upgraded Park-Ohio from a “buy” rating to a “strong-buy” rating in a report on Thursday, August 13th. Weiss Ratings upgraded Park-Ohio from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, October 8th. Finally, KeyCorp upped their price target on Park-Ohio from $45.00 to $59.00 and gave the stock an “overweight” rating in a report on Friday, August 7th. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $59.00.

Park-Ohio Stock Down 1.5%

Shares of NASDAQ PKOH opened at $43.50 on Tuesday. The stock has a fifty day moving average price of $46.04 and a 200 day moving average price of $35.21. The company has a current ratio of 2.40, a quick ratio of 1.26 and a debt-to-equity ratio of 1.66. Park-Ohio has a 12-month low of $18.06 and a 12-month high of $53.30. The company has a market cap of $630.32 million, a P/E ratio of 23.14, a P/E/G ratio of 1.13 and a beta of 1.34.

Park-Ohio (NASDAQ:PKOH) last issued its quarterly earnings data on Wednesday, November 4th. The industrial products company reported $1.04 EPS for the quarter, topping analysts’ consensus estimates of $0.90 by $0.14. Park-Ohio had a return on equity of 10.55% and a net margin of 1.60%. The company had revenue of $458.50 million for the quarter, compared to analysts’ expectations of $432.13 million. Research analysts anticipate that Park-Ohio will post 3.26 EPS for the current fiscal year.

Insider Buying and Selling at Park-Ohio

In other news, Director James W. Wert sold 3,000 shares of Park-Ohio stock in a transaction dated Thursday, September 24th. The stock was sold at an average price of $47.50, for a total transaction of $142,500.00. Following the sale, the director directly owned 85,456 shares of the company’s stock, valued at approximately $4,059,160. The trade was a 3.39% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Howard W. Iv Hanna sold 5,330 shares of Park-Ohio stock in a transaction dated Thursday, August 20th. The stock was sold at an average price of $45.05, for a total value of $240,116.50. Following the sale, the director directly owned 18,122 shares in the company, valued at approximately $816,396.10. The trade was a 22.73% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 52,330 shares of company stock valued at $2,438,390 in the last ninety days. Insiders own 31.10% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of PKOH. Simplex Trading LLC grew its stake in Park-Ohio by 573.5% during the 3rd quarter. Simplex Trading LLC now owns 6,735 shares of the industrial products company’s stock valued at $311,000 after purchasing an additional 5,735 shares in the last quarter. Allspring Global Investments Holdings LLC raised its position in shares of Park-Ohio by 4.1% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 15,372 shares of the industrial products company’s stock valued at $715,000 after purchasing an additional 607 shares in the last quarter. Commonwealth Equity Services LLC acquired a new position in shares of Park-Ohio in the 3rd quarter valued at approximately $268,000. USA Financial Formulas purchased a new position in shares of Park-Ohio during the 3rd quarter valued at approximately $43,000. Finally, State of Alaska Department of Revenue purchased a new position in shares of Park-Ohio during the 3rd quarter valued at approximately $27,000. Hedge funds and other institutional investors own 51.38% of the company’s stock.

About Park-Ohio

Park-Ohio Holdings Corp. (NASDAQ: PKOH) is a diversified manufacturing and supply-chain management company serving original equipment manufacturers and other industrial customers. Through its operating businesses, the company provides engineered products, component manufacturing, and integrated supply-chain services.

Park-Ohio’s manufacturing activities include the production of forged, machined, stamped, molded, and assembled components, as well as specialized products made from metal, rubber, and other materials.