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 report issued on Wednesday.

Park-Ohio Stock Up 0.7 %

PKOH opened at $32.23 on Wednesday. The firm’s 50 day simple moving average is $30.03 and its two-hundred day simple moving average is $28.10. The company has a market capitalization of $452.54 million, a PE ratio of 25.60 and a beta of 1.16. Park-Ohio has a 1-year low of $22.32 and a 1-year high of $34.50. The company has a current ratio of 2.45, a quick ratio of 1.26 and a debt-to-equity ratio of 1.90.

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

Hedge Funds Weigh In On Park-Ohio

Large investors have recently added to or reduced their stakes in the company. 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 valued at $41,000 after purchasing an additional 1,510 shares during the period. BNP Paribas Financial Markets increased its stake in Park-Ohio by 105.2% in the 3rd quarter. BNP Paribas Financial Markets now owns 3,256 shares of the industrial products company’s stock worth $100,000 after buying an additional 1,669 shares in the last quarter. EMC Capital Management raised its holdings in Park-Ohio by 166.1% during the third quarter. EMC Capital Management now owns 7,074 shares of the industrial products company’s stock valued at $217,000 after acquiring an additional 4,416 shares during the period. L & S Advisors Inc purchased a new position in shares of Park-Ohio in the third quarter valued at about $230,000. Finally, Price T Rowe Associates Inc. MD boosted its stake 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 acquiring an additional 449 shares during the period. 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.