Park-Ohio (NASDAQ:PKOH) Rating Lowered to Sell at BidaskClub

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

Other analysts also recently issued reports about the stock. TheStreet downgraded shares of Stitch Fix from a “c-” rating to a “d+” rating in a report on Monday, May 6th. ValuEngine upgraded shares of YY from a “sell” rating to a “hold” rating in a report on Friday, June 7th. Two research analysts have rated the stock with a sell rating and two have assigned a hold rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $39.00.

Shares of NASDAQ:PKOH opened at $30.95 on Friday. The stock has a 50 day moving average of $31.94. The firm has a market cap of $390.96 million, a price-to-earnings ratio of 7.10 and a beta of 2.28. Park-Ohio has a twelve month low of $28.01 and a twelve month high of $43.15. The company has a current ratio of 2.27, a quick ratio of 1.26 and a debt-to-equity ratio of 1.83.

Park-Ohio (NASDAQ:PKOH) last issued its quarterly earnings results on Monday, May 6th. The industrial products company reported $1.01 earnings per share for the quarter, topping analysts’ consensus estimates of $0.98 by $0.03. Park-Ohio had a net margin of 3.29% and a return on equity of 17.19%. The company had revenue of $420.10 million during the quarter, compared to analyst estimates of $420.00 million. Equities analysts forecast that Park-Ohio will post 4.43 earnings per share for the current fiscal year.

In related news, Director Patrick V. Auletta sold 2,300 shares of the business’s stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $31.33, for a total value of $72,059.00. Following the sale, the director now directly owns 17,125 shares in the company, valued at approximately $536,526.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Edward F. Crawford bought 7,581 shares of the company’s stock in a transaction that occurred on Tuesday, June 11th. The stock was acquired at an average price of $30.84 per share, for a total transaction of $233,798.04. Following the completion of the acquisition, the insider now directly owns 1,510,295 shares in the company, valued at $46,577,497.80. The disclosure for this purchase can be found here. 31.20% of the stock is owned by insiders.

Several hedge funds have recently added to or reduced their stakes in PKOH. BNP Paribas Arbitrage SA raised its holdings 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 valued at $61,000 after acquiring an additional 1,534 shares during the period. Citigroup Inc. raised its holdings in shares of Park-Ohio by 14.4% during the fourth quarter. Citigroup Inc. now owns 2,951 shares of the industrial products company’s stock valued at $91,000 after acquiring an additional 371 shares during the period. Metropolitan Life Insurance Co. NY raised its holdings in shares of 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 valued at $101,000 after acquiring an additional 2,638 shares during the period. Denali Advisors LLC raised its holdings in shares of Park-Ohio by 1,878.2% during the first quarter. Denali Advisors LLC now owns 3,897 shares of the industrial products company’s stock valued at $126,000 after acquiring an additional 3,700 shares during the period. Finally, Heritage Investors Management Corp acquired a new stake in shares of Park-Ohio during the first quarter valued at approximately $203,000. Institutional investors and hedge funds own 53.62% of the company’s stock.

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. 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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