Park-Ohio (NASDAQ:PKOH) Upgraded at StockNews.com

Park-Ohio (NASDAQ:PKOH) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a report issued on Thursday.

Park-Ohio Price Performance

Shares of NASDAQ:PKOH traded down $0.63 on Thursday, hitting $32.04. The company’s stock had a trading volume of 17,934 shares, compared to its average volume of 27,672. The company has a 50-day simple moving average of $30.43 and a 200 day simple moving average of $28.32. Park-Ohio has a 1 year low of $22.52 and a 1 year high of $34.50. The company has a market capitalization of $449.84 million, a PE ratio of 25.63 and a beta of 1.16. 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 released its quarterly earnings results on Wednesday, November 6th. The industrial products company reported $1.07 earnings per share for the quarter, beating the consensus estimate of $0.89 by $0.18. The firm had revenue of $417.60 million for the quarter. Park-Ohio had a return on equity of 14.64% and a net margin of 1.01%.

Hedge Funds Weigh In On Park-Ohio

Institutional investors have recently modified their holdings of the company. Allspring Global Investments Holdings LLC increased 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 last quarter. BNP Paribas Financial Markets grew its position in Park-Ohio by 105.2% during the 3rd quarter. BNP Paribas Financial Markets now owns 3,256 shares of the industrial products company’s stock worth $100,000 after acquiring an additional 1,669 shares during the last quarter. EMC Capital Management grew its position in Park-Ohio by 166.1% during the 3rd quarter. EMC Capital Management now owns 7,074 shares of the industrial products company’s stock worth $217,000 after acquiring an additional 4,416 shares during the last quarter. L & S Advisors Inc bought a new position in Park-Ohio during the 3rd quarter worth approximately $230,000. Finally, Price T Rowe Associates Inc. MD grew 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 worth $233,000 after acquiring an additional 449 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.