Park-Ohio (NASDAQ:PKOH) Raised to Buy at StockNews.com

Park-Ohio (NASDAQ:PKOH) was upgraded by stock analysts at StockNews.com from a “hold” rating to a “buy” rating in a report issued on Thursday.

Park-Ohio Stock Down 1.2 %

Shares of NASDAQ:PKOH traded down $0.36 during midday trading on Thursday, hitting $28.85. 13,655 shares of the company’s stock were exchanged, compared to its average volume of 27,141. The company has a debt-to-equity ratio of 2.22, a current ratio of 2.42 and a quick ratio of 1.22. The stock has a 50 day moving average price of $28.95 and a 200-day moving average price of $27.00. The company has a market cap of $377.10 million, a PE ratio of 31.70 and a beta of 1.15. Park-Ohio has a 12 month low of $21.13 and a 12 month high of $31.95.

Park-Ohio (NASDAQ:PKOH) last posted its earnings results on Wednesday, August 7th. The industrial products company reported $1.02 EPS for the quarter, topping the consensus estimate of $0.94 by $0.08. The company had revenue of $432.60 million during the quarter. Park-Ohio had a net margin of 1.09% and a return on equity of 14.72%. During the same period in the previous year, the firm earned $0.83 earnings per share.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PKOH. Allspring Global Investments Holdings LLC boosted its holdings in Park-Ohio by 1,986.8% during the second quarter. Allspring Global Investments Holdings LLC now owns 1,586 shares of the industrial products company’s stock worth $41,000 after purchasing an additional 1,510 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in Park-Ohio by 5.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 8,703 shares of the industrial products company’s stock worth $233,000 after purchasing an additional 449 shares during the last quarter. Empowered Funds LLC boosted its stake in Park-Ohio by 7.8% in the first quarter. Empowered Funds LLC now owns 9,618 shares of the industrial products company’s stock valued at $257,000 after acquiring an additional 700 shares during the last quarter. BNP Paribas Financial Markets boosted its stake in Park-Ohio by 23.1% in the first quarter. BNP Paribas Financial Markets now owns 10,831 shares of the industrial products company’s stock valued at $289,000 after acquiring an additional 2,036 shares during the last quarter. Finally, Aristeia Capital L.L.C. boosted its stake in Park-Ohio by 11.3% in the second quarter. Aristeia Capital L.L.C. now owns 11,515 shares of the industrial products company’s stock valued at $298,000 after acquiring an additional 1,170 shares during the last quarter. 51.38% of the stock is currently owned by hedge funds and other institutional investors.

About Park-Ohio

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.