Zacks Investment Research upgraded shares of Park-Ohio (NASDAQ:PKOH) from a hold rating to a buy rating in a research note published on Friday morning. The firm currently has $40.00 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. “
Other equities analysts have also recently issued reports about the company. ValuEngine upgraded Park-Ohio from a sell rating to a hold rating in a report on Thursday, August 9th. B. Riley reiterated a neutral rating on shares of Park-Ohio in a report on Wednesday. Finally, BidaskClub upgraded Park-Ohio from a strong sell rating to a sell rating in a report on Tuesday, September 18th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the company. The stock has a consensus rating of Hold and an average price target of $40.00.
Shares of PKOH traded down $1.52 during midday trading on Friday, reaching $36.79. The stock had a trading volume of 28,440 shares, compared to its average volume of 34,253. Park-Ohio has a 12-month low of $32.32 and a 12-month high of $47.90. The company has a current ratio of 2.43, a quick ratio of 1.54 and a debt-to-equity ratio of 1.78. The stock has a market capitalization of $463.58 million, a P/E ratio of 11.39 and a beta of 2.75.
Park-Ohio (NASDAQ:PKOH) last posted its quarterly earnings data on Tuesday, November 6th. The industrial products company reported $1.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.92 by $0.15. Park-Ohio had a return on equity of 16.17% and a net margin of 2.76%. The firm had revenue of $414.30 million during the quarter, compared to analysts’ expectations of $404.00 million. On average, equities research analysts predict that Park-Ohio will post 3.93 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 28th. Stockholders of record on Wednesday, November 14th will be issued a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a dividend yield of 1.36%. The ex-dividend date is Tuesday, November 13th. Park-Ohio’s payout ratio is currently 15.48%.
In other news, insider Edward F. Crawford sold 48,186 shares of the business’s stock in a transaction dated Tuesday, August 28th. The stock was sold at an average price of $40.59, for a total value of $1,955,869.74. Following the completion of the sale, the insider now owns 1,522,148 shares of the company’s stock, valued at approximately $61,783,987.32. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 31.20% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Sun Life Financial INC bought a new stake in shares of Park-Ohio in the 2nd quarter valued at about $165,000. Tower Research Capital LLC TRC lifted its stake in shares of Park-Ohio by 279.3% in the 2nd quarter. Tower Research Capital LLC TRC now owns 4,426 shares of the industrial products company’s stock valued at $165,000 after acquiring an additional 3,259 shares during the last quarter. PEAK6 Investments L.P. lifted its stake in shares of Park-Ohio by 7,026.6% in the 2nd quarter. PEAK6 Investments L.P. now owns 6,511 shares of the industrial products company’s stock valued at $243,000 after acquiring an additional 6,605 shares during the last quarter. First Trust Advisors LP lifted its stake in shares of Park-Ohio by 17.6% in the 2nd quarter. First Trust Advisors LP now owns 9,907 shares of the industrial products company’s stock valued at $370,000 after acquiring an additional 1,482 shares during the last quarter. Finally, Citadel Advisors LLC bought a new stake in shares of Park-Ohio in the 2nd quarter valued at about $650,000. 53.18% of the stock is owned by institutional investors.
Park-Ohio Company Profile
Park-Ohio Holdings Corp., through its subsidiaries, provides supply chain management outsourcing services, capital equipment, and manufactured components in the United States, Asia, Europe, Canada, Mexico, 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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