Park-Ohio (NASDAQ:PKOH) Stock Price Crosses Above 200 Day Moving Average – What’s Next?

Park-Ohio Holdings Corp. (NASDAQ:PKOH) shares crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $27.13 and traded as high as $30.87. Park-Ohio shares last traded at $30.79, with a volume of 14,909 shares changing hands.

Wall Street Analysts Forecast Growth

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

Park-Ohio Stock Performance

The company has a 50-day moving average price of $29.23 and a two-hundred day moving average price of $27.13. The stock has a market capitalization of $402.46 million, a P/E ratio of 33.84 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 announced its quarterly earnings results on Wednesday, August 7th. The industrial products company reported $1.02 earnings per share 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 company earned $0.83 earnings per share.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Allspring Global Investments Holdings LLC increased its position in shares of Park-Ohio by 1,986.8% in 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 increased its position in shares of Park-Ohio by 5.4% in 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 increased its position in shares of 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 last quarter. BNP Paribas Financial Markets increased its position in shares of 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 worth $289,000 after purchasing an additional 2,036 shares during the last quarter. Finally, Aristeia Capital L.L.C. increased its position in shares of 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 worth $298,000 after purchasing an additional 1,170 shares during the last quarter. 51.38% of the stock is currently owned by 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.