Park-Ohio (NASDAQ:PKOH) Shares Pass Above 200 Day Moving Average – Time to Sell?

Park-Ohio Holdings Corp. (NASDAQ:PKOH) shares crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $27.26 and traded as high as $29.03. Park-Ohio shares last traded at $28.60, with a volume of 24,386 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised shares of Park-Ohio from a “hold” rating to a “buy” rating in a report on Thursday, October 10th.

Park-Ohio Stock Down 0.1 %

The firm’s 50 day simple moving average is $29.34 and its 200 day simple moving average is $27.26. The company has a market cap of $376.95 million, a price-to-earnings ratio of 20.43 and a beta of 1.15. The company has a quick ratio of 1.22, a current ratio of 2.42 and a debt-to-equity ratio of 2.22.

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

Institutional Investors Weigh In On Park-Ohio

Several institutional investors have recently bought and sold shares of PKOH. Allspring Global Investments Holdings LLC raised its position in shares of Park-Ohio by 1,986.8% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 1,586 shares of the industrial products company’s stock worth $41,000 after buying an additional 1,510 shares in the last quarter. Price T Rowe Associates Inc. MD raised 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 in the last quarter. Empowered Funds LLC lifted its position 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 worth $257,000 after purchasing an additional 700 shares during the period. BNP Paribas Financial Markets boosted its stake 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, Aristeia Capital L.L.C. increased its position in shares of Park-Ohio by 11.3% during the 2nd quarter. Aristeia Capital L.L.C. now owns 11,515 shares of the industrial products company’s stock valued at $298,000 after purchasing an additional 1,170 shares during the period. Institutional investors and hedge funds own 51.38% 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. It operates through three segments: Supply Technologies, Assembly Components, and Engineered Products.