Park-Ohio (NASDAQ:PKOH) Upgraded at BidaskClub

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Park-Ohio (NASDAQ:PKOH) was upgraded by equities research analysts at BidaskClub from a “sell” rating to a “hold” rating in a research note issued to investors on Wednesday, BidAskClub reports.

PKOH has been the topic of a number of other reports. TheStreet upgraded shares of Park-Ohio from a “c+” rating to a “b-” rating in a research report on Monday, May 6th. ValuEngine cut Park-Ohio from a “sell” rating to a “strong sell” rating in a research report on Friday, June 7th. Finally, Zacks Investment Research cut Park-Ohio from a “strong-buy” rating to a “hold” rating in a report on Saturday, March 9th. One investment analyst has rated the stock with a sell rating and three have given a hold rating to the company. Park-Ohio presently has a consensus rating of “Hold” and a consensus price target of $39.00.

NASDAQ PKOH opened at $31.75 on Wednesday. Park-Ohio has a 12 month low of $28.01 and a 12 month high of $43.15. The company has a debt-to-equity ratio of 1.83, a quick ratio of 1.26 and a current ratio of 2.27. The stock has a market capitalization of $383.13 million, a price-to-earnings ratio of 7.42 and a beta of 2.38.

Park-Ohio (NASDAQ:PKOH) last issued its earnings results on Monday, May 6th. The industrial products company reported $1.01 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.98 by $0.03. The firm had revenue of $420.10 million for the quarter, compared to analysts’ expectations of $420.00 million. Park-Ohio had a net margin of 3.29% and a return on equity of 17.19%. As a group, analysts predict that Park-Ohio will post 4.43 EPS for the current fiscal year.

In other Park-Ohio news, Director Ronna Romney sold 2,195 shares of the firm’s stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $32.99, for a total value of $72,413.05. Following the completion of the sale, the director now owns 16,900 shares in the company, valued at approximately $557,531. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Edward F. Crawford bought 12,532 shares of the business’s stock in a transaction that occurred on Friday, June 7th. The shares were bought at an average price of $29.96 per share, with a total value of $375,458.72. Following the transaction, the insider now directly owns 1,497,675 shares in the company, valued at $44,870,343. The disclosure for this purchase can be found here. Corporate insiders own 31.20% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in PKOH. New York State Teachers Retirement System acquired a new stake in shares of Park-Ohio in the 4th quarter valued at $25,000. BNP Paribas Arbitrage SA grew its stake in shares of Park-Ohio by 453.8% during the first quarter. BNP Paribas Arbitrage SA now owns 1,872 shares of the industrial products company’s stock worth $61,000 after purchasing an additional 1,534 shares during the period. Acadian Asset Management LLC bought a new position in Park-Ohio during the first quarter worth about $83,000. Citigroup Inc. lifted its holdings in Park-Ohio by 14.4% during the fourth quarter. Citigroup Inc. now owns 2,951 shares of the industrial products company’s stock worth $91,000 after acquiring an additional 371 shares in the last quarter. Finally, Metropolitan Life Insurance Co. NY lifted its holdings in Park-Ohio by 403.4% during the fourth quarter. Metropolitan Life Insurance Co. NY now owns 3,292 shares of the industrial products company’s stock worth $101,000 after acquiring an additional 2,638 shares in the last quarter. 53.62% of the stock is owned by hedge funds and other institutional investors.

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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