Park-Ohio Holdings Corp. (PKOH) PT Raised to $50.00
Park-Ohio Holdings Corp. (NASDAQ:PKOH) had its price objective lifted by analysts at KeyCorp from $45.00 to $50.00 in a report released on Tuesday. The firm presently has an “overweight” rating on the stock. KeyCorp’s price objective points to a potential upside of 18.62% from the stock’s current price.
A number of other equities research analysts have also recently commented on PKOH. TheStreet cut shares of Park-Ohio Holdings Corp. from a “buy” rating to a “hold” rating in a report on Friday, November 4th. Zacks Investment Research cut shares of Park-Ohio Holdings Corp. from a “buy” rating to a “hold” rating in a report on Wednesday, August 17th. FBR & Co reaffirmed a “market perform” rating and issued a $33.00 price target on shares of Park-Ohio Holdings Corp. in a report on Thursday, November 10th. Finally, Sidoti assumed coverage on shares of Park-Ohio Holdings Corp. in a report on Tuesday, August 30th. They issued a “buy” rating and a $50.00 price target on the stock. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $43.00.
Park-Ohio Holdings Corp. (NASDAQ:PKOH) opened at 42.15 on Tuesday. The stock has a 50 day moving average price of $35.83 and a 200-day moving average price of $32.97. The company has a market capitalization of $512.08 million, a PE ratio of 14.05 and a beta of 3.01. Park-Ohio Holdings Corp. has a 52 week low of $23.21 and a 52 week high of $44.15.
Park-Ohio Holdings Corp. (NASDAQ:PKOH) last posted its quarterly earnings results on Monday, November 7th. The company reported $1.13 EPS for the quarter, topping analysts’ consensus estimates of $0.92 by $0.21. The company had revenue of $312.70 million for the quarter, compared to analysts’ expectations of $351.20 million. Park-Ohio Holdings Corp. had a net margin of 2.80% and a return on equity of 19.44%. On average, equities analysts predict that Park-Ohio Holdings Corp. will post $3.11 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Monday, November 28th. Shareholders of record on Monday, November 14th were issued a dividend of $0.125 per share. The ex-dividend date was Wednesday, November 9th. This represents a $0.50 dividend on an annualized basis and a yield of 1.19%. Park-Ohio Holdings Corp.’s payout ratio is 16.67%.
In other Park-Ohio Holdings Corp. news, Director James W. Wert sold 2,560 shares of the business’s stock in a transaction on Wednesday, September 14th. The shares were sold at an average price of $35.79, for a total transaction of $91,622.40. Following the sale, the director now owns 85,464 shares of the company’s stock, valued at approximately $3,058,756.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director James W. Wert sold 1,000 shares of the business’s stock in a transaction on Thursday, September 15th. The shares were sold at an average price of $36.05, for a total transaction of $36,050.00. Following the sale, the director now directly owns 82,500 shares in the company, valued at approximately $2,974,125. The disclosure for this sale can be found here. Company insiders own 32.00% of the company’s stock.
Large investors have recently modified their holdings of the stock. BlackRock Advisors LLC raised its position in Park-Ohio Holdings Corp. by 1.1% in the second quarter. BlackRock Advisors LLC now owns 3,914 shares of the company’s stock worth $111,000 after buying an additional 41 shares during the period. Emerald Acquisition Ltd. purchased a new position in Park-Ohio Holdings Corp. during the second quarter worth approximately $121,000. SG Americas Securities LLC purchased a new position in Park-Ohio Holdings Corp. during the third quarter worth approximately $129,000. Panagora Asset Management Inc. purchased a new position in Park-Ohio Holdings Corp. during the third quarter worth approximately $132,000. Finally, BlackRock Group LTD raised its position in Park-Ohio Holdings Corp. by 129.0% in the second quarter. BlackRock Group LTD now owns 7,846 shares of the company’s stock worth $222,000 after buying an additional 4,420 shares during the period. 55.59% of the stock is currently owned by institutional investors and hedge funds.
About Park-Ohio Holdings Corp.
Park-Ohio Holdings Corp. operates through the subsidiaries owned by its direct subsidiary, Park-Ohio Industries, Inc (Park-Ohio). Park-Ohio is an industrial supply chain logistics and diversified manufacturing business operating in three segments: Supply Technologies, Assembly Components and Engineered Products.
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