Park-Ohio (NASDAQ:PKOH) Raised to “Sell” at ValuEngine

ValuEngine upgraded shares of Park-Ohio (NASDAQ:PKOH) from a strong sell rating to a sell rating in a report published on Wednesday, ValuEngine reports.

Other analysts also recently issued reports about the stock. Zacks Investment Research downgraded shares of Park-Ohio from a buy rating to a hold rating in a report on Saturday, August 17th. TheStreet downgraded shares of Park-Ohio from a b- rating to a c+ rating in a report on Monday, August 5th. B. Riley dropped their target price on shares of Park-Ohio from $40.00 to $30.00 and set a neutral rating on the stock in a report on Monday, August 12th. Finally, BidaskClub upgraded shares of Park-Ohio from a sell rating to a hold rating in a report on Thursday, September 26th. Two equities research analysts have rated the stock with a sell rating and two have issued a hold rating to the company. Park-Ohio currently has a consensus rating of Hold and an average price target of $30.50.

Shares of NASDAQ PKOH traded up $0.59 during midday trading on Wednesday, reaching $28.25. The company’s stock had a trading volume of 11,920 shares, compared to its average volume of 22,880. The company has a current ratio of 2.37, a quick ratio of 1.32 and a debt-to-equity ratio of 1.89. The company has a 50 day moving average price of $29.11 and a 200 day moving average price of $31.80. Park-Ohio has a one year low of $25.74 and a one year high of $38.77. The company has a market cap of $345.20 million, a price-to-earnings ratio of 6.60 and a beta of 2.33.

Park-Ohio (NASDAQ:PKOH) last released its earnings results on Monday, August 5th. The industrial products company reported $1.07 EPS for the quarter, hitting analysts’ consensus estimates of $1.07. Park-Ohio had a net margin of 2.89% and a return on equity of 16.77%. The business had revenue of $415.30 million for the quarter, compared to the consensus estimate of $438.60 million. Research analysts anticipate that Park-Ohio will post 4.44 earnings per share for the current fiscal year.

In other news, Director James W. Wert bought 2,500 shares of the company’s stock in a transaction dated Friday, August 9th. The shares were acquired at an average cost of $27.62 per share, with a total value of $69,050.00. Following the completion of the transaction, the director now directly owns 80,320 shares in the company, valued at approximately $2,218,438.40. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Ronna Romney sold 5,000 shares of Park-Ohio stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $26.14, for a total transaction of $130,700.00. Following the completion of the transaction, the director now directly owns 18,909 shares in the company, valued at $494,281.26. The disclosure for this sale can be found here. 31.20% of the stock is owned by insiders.

Institutional investors have recently added to or reduced their stakes in the company. Panagora Asset Management Inc. purchased a new position in shares of Park-Ohio in the second quarter worth approximately $34,000. Royal Bank of Canada increased its position in shares of Park-Ohio by 45.5% in the second quarter. Royal Bank of Canada now owns 1,164 shares of the industrial products company’s stock worth $38,000 after acquiring an additional 364 shares in the last quarter. BNP Paribas Arbitrage SA increased its position in shares of Park-Ohio by 453.8% in the first quarter. BNP Paribas Arbitrage SA now owns 1,872 shares of the industrial products company’s stock worth $61,000 after acquiring an additional 1,534 shares in the last quarter. Acadian Asset Management LLC increased its position in shares of Park-Ohio by 58.9% in the second quarter. Acadian Asset Management LLC now owns 4,056 shares of the industrial products company’s stock worth $132,000 after acquiring an additional 1,504 shares in the last quarter. Finally, Algert Global LLC increased its position in shares of Park-Ohio by 6.8% in the second quarter. Algert Global LLC now owns 8,862 shares of the industrial products company’s stock worth $289,000 after acquiring an additional 567 shares in the last quarter. 54.67% of the stock is currently owned by institutional investors and hedge funds.

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.

Featured Story: Why do companies issue convertible shares?

To view ValuEngine’s full report, visit ValuEngine’s official website.

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.