Wall Street analysts forecast that Park-Ohio Holdings Corp. (NASDAQ:PKOH) will announce $430.20 million in sales for the current quarter, according to Zacks. Three analysts have issued estimates for Park-Ohio’s earnings, with the lowest sales estimate coming in at $428.90 million and the highest estimate coming in at $432.30 million. Park-Ohio reported sales of $414.30 million during the same quarter last year, which would suggest a positive year over year growth rate of 3.8%. The company is scheduled to announce its next quarterly earnings results on Monday, November 4th.
According to Zacks, analysts expect that Park-Ohio will report full-year sales of $1.70 billion for the current financial year, with estimates ranging from $1.70 billion to $1.71 billion. For the next fiscal year, analysts anticipate that the company will post sales of $1.81 billion, with estimates ranging from $1.78 billion to $1.83 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that cover Park-Ohio.
Park-Ohio (NASDAQ:PKOH) last issued its earnings results on Monday, August 5th. The industrial products company reported $1.07 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $1.07. The company had revenue of $415.30 million for the quarter, compared to analysts’ expectations of $438.60 million. Park-Ohio had a net margin of 2.89% and a return on equity of 16.77%.
A number of analysts have weighed in on PKOH shares. Zacks Investment Research cut shares of Park-Ohio from a “buy” rating to a “hold” rating in a report on Saturday, August 17th. B. Riley lowered their price target on shares of Park-Ohio from $40.00 to $30.00 and set a “neutral” rating for the company in a research report on Monday, August 12th. BidaskClub lowered shares of Park-Ohio from a “hold” rating to a “sell” rating in a research report on Friday, October 4th. TheStreet lowered shares of Park-Ohio from a “b-” rating to a “c+” rating in a research report on Monday, August 5th. Finally, ValuEngine upgraded shares of Park-Ohio from a “strong sell” rating to a “sell” rating in a research report on Wednesday, October 2nd. Two research analysts have rated the stock with a sell rating and two have assigned a hold rating to the company’s stock. Park-Ohio has an average rating of “Hold” and an average price target of $30.50.
In related news, Director Ronna Romney sold 5,000 shares of the stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $26.14, for a total value of $130,700.00. Following the completion of the transaction, the director now owns 18,909 shares in the company, valued at approximately $494,281.26. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director James W. Wert bought 2,500 shares of the firm’s stock in a transaction that occurred on Friday, August 9th. The stock was bought at an average price of $27.62 per share, with a total value of $69,050.00. Following the transaction, the director now directly owns 80,320 shares in the company, valued at $2,218,438.40. The disclosure for this purchase can be found here. 31.20% of the stock is currently owned by corporate insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in PKOH. Royal Bank of Canada boosted its position in shares of Park-Ohio by 45.5% during the 2nd quarter. Royal Bank of Canada now owns 1,164 shares of the industrial products company’s stock valued at $38,000 after purchasing an additional 364 shares in the last quarter. Algert Global LLC boosted its position in shares of Park-Ohio by 6.8% during the 2nd quarter. Algert Global LLC now owns 8,862 shares of the industrial products company’s stock valued at $289,000 after purchasing an additional 567 shares in the last quarter. Swiss National Bank boosted its position in shares of Park-Ohio by 4.8% during the 2nd quarter. Swiss National Bank now owns 15,400 shares of the industrial products company’s stock valued at $502,000 after purchasing an additional 700 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Park-Ohio by 0.3% during the 2nd quarter. Vanguard Group Inc. now owns 389,815 shares of the industrial products company’s stock valued at $12,704,000 after purchasing an additional 996 shares in the last quarter. Finally, Russell Investments Group Ltd. boosted its position in shares of Park-Ohio by 9.2% during the 2nd quarter. Russell Investments Group Ltd. now owns 11,841 shares of the industrial products company’s stock valued at $386,000 after purchasing an additional 1,000 shares in the last quarter. Hedge funds and other institutional investors own 54.67% of the company’s stock.
Shares of NASDAQ:PKOH traded up $1.07 on Friday, reaching $28.35. 859 shares of the company’s stock were exchanged, compared to its average volume of 22,152. The firm has a market capitalization of $343.45 million, a price-to-earnings ratio of 6.55 and a beta of 2.33. Park-Ohio has a fifty-two week low of $25.74 and a fifty-two week high of $38.77. The business’s 50-day moving average is $29.13 and its two-hundred day moving average is $31.66. The company has a quick ratio of 1.32, a current ratio of 2.37 and a debt-to-equity ratio of 1.89.
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. The company's Supply Technologies segment offers Total Supply Management solution, including engineering and design support, part usage and cost analysis, supplier selection, quality assurance, bar coding, product packaging and tracking, just-in-time and point-of-use delivery, electronic billing, and ongoing technical support services, as well as provides spare parts and aftermarket products; and production components, including valves, fuel hose assemblies, electro-mechanical hardware, labels, fittings, steering components, and other products.
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