Park-Ohio (NASDAQ:PKOH) Stock Rating Upgraded by StockNews.com

Park-Ohio (NASDAQ:PKOHGet Free Report) was upgraded by research analysts at StockNews.com from a “hold” rating to a “buy” rating in a research note issued on Tuesday.

Separately, TheStreet upgraded shares of Park-Ohio from a “d+” rating to a “c” rating in a research report on Monday, October 16th.

Check Out Our Latest Stock Analysis on PKOH

Park-Ohio Stock Performance

NASDAQ:PKOH opened at $24.74 on Tuesday. The company has a debt-to-equity ratio of 2.29, a quick ratio of 1.24 and a current ratio of 2.14. The stock has a 50-day simple moving average of $25.08 and a two-hundred day simple moving average of $22.14. The firm has a market capitalization of $323.85 million, a PE ratio of -123.69 and a beta of 1.21. Park-Ohio has a 52-week low of $10.90 and a 52-week high of $28.79.

Park-Ohio (NASDAQ:PKOHGet Free Report) last released its earnings results on Wednesday, November 1st. The industrial products company reported $0.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.80 by $0.19. Park-Ohio had a negative net margin of 0.10% and a positive return on equity of 10.86%. The company had revenue of $418.80 million during the quarter, compared to analyst estimates of $406.05 million. Analysts forecast that Park-Ohio will post 3.09 EPS for the current year.

Insiders Place Their Bets

In other news, Director James W. Wert sold 1,000 shares of the business’s stock in a transaction on Wednesday, December 27th. The shares were sold at an average price of $27.00, for a total value of $27,000.00. Following the transaction, the director now owns 90,190 shares of the company’s stock, valued at $2,435,130. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Park-Ohio news, Director James W. Wert sold 1,000 shares of the stock in a transaction dated Wednesday, December 27th. The shares were sold at an average price of $27.00, for a total transaction of $27,000.00. Following the completion of the transaction, the director now owns 90,190 shares of the company’s stock, valued at approximately $2,435,130. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Patrick W. Fogarty sold 2,500 shares of the stock in a transaction dated Wednesday, December 13th. The shares were sold at an average price of $24.05, for a total transaction of $60,125.00. Following the transaction, the chief financial officer now directly owns 147,336 shares of the company’s stock, valued at approximately $3,543,430.80. The disclosure for this sale can be found here. Insiders sold 28,731 shares of company stock worth $700,775 in the last three months. 33.26% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in PKOH. BlackRock Inc. lifted its holdings in shares of Park-Ohio by 351.6% in the 2nd quarter. BlackRock Inc. now owns 488,811 shares of the industrial products company’s stock valued at $9,287,000 after acquiring an additional 380,560 shares during the last quarter. Millennium Management LLC purchased a new stake in Park-Ohio in the 2nd quarter worth about $2,310,000. Prescott Group Capital Management L.L.C. purchased a new stake in Park-Ohio in the 2nd quarter worth about $2,090,000. Acadian Asset Management LLC raised its position in Park-Ohio by 70.6% in the 3rd quarter. Acadian Asset Management LLC now owns 219,837 shares of the industrial products company’s stock worth $4,373,000 after purchasing an additional 90,998 shares during the period. Finally, Geode Capital Management LLC raised its position in Park-Ohio by 105.1% in the 2nd quarter. Geode Capital Management LLC now owns 168,277 shares of the industrial products company’s stock worth $3,197,000 after purchasing an additional 86,216 shares during the period. Institutional investors own 48.16% of the company’s stock.

Park-Ohio Company Profile

(Get Free Report)

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. It operates through three segments: Supply Technologies, Assembly Components, and Engineered Products.

Further Reading

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