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

Park-Ohio (NASDAQ:PKOH) was upgraded by equities research analysts at StockNews.com from a “hold” rating to a “buy” rating in a note issued to investors on Wednesday.

Park-Ohio Price Performance

PKOH stock opened at $31.99 on Wednesday. Park-Ohio has a 1 year low of $22.32 and a 1 year high of $34.50. The company has a market cap of $449.14 million, a P/E ratio of 25.59 and a beta of 1.16. The firm has a 50-day moving average of $29.87 and a 200 day moving average of $28.03. The company has a debt-to-equity ratio of 1.90, a current ratio of 2.45 and a quick ratio of 1.26.

Park-Ohio (NASDAQ:PKOH) last announced its earnings results on Wednesday, November 6th. The industrial products company reported $1.07 earnings per share for the quarter, beating analysts’ consensus estimates of $0.89 by $0.18. The business had revenue of $417.60 million during the quarter. Park-Ohio had a net margin of 1.01% and a return on equity of 14.64%.

Institutional Investors Weigh In On Park-Ohio

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp lifted its stake in shares of Park-Ohio by 0.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 95,170 shares of the industrial products company’s stock valued at $2,464,000 after buying an additional 496 shares in the last quarter. First Eagle Investment Management LLC lifted its stake in shares of Park-Ohio by 41.8% during the 2nd quarter. First Eagle Investment Management LLC now owns 158,189 shares of the industrial products company’s stock worth $4,096,000 after acquiring an additional 46,660 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in Park-Ohio by 5.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,703 shares of the industrial products company’s stock valued at $233,000 after purchasing an additional 449 shares in the last quarter. BNP Paribas Financial Markets raised its position in Park-Ohio by 23.1% during the 1st quarter. BNP Paribas Financial Markets now owns 10,831 shares of the industrial products company’s stock valued at $289,000 after purchasing an additional 2,036 shares in the last quarter. Finally, Vanguard Group Inc. raised its position in shares of Park-Ohio by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 442,830 shares of the industrial products company’s stock worth $11,815,000 after acquiring an additional 3,236 shares in the last quarter. Hedge funds and other institutional investors own 51.38% of the company’s stock.

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