Park-Ohio (NASDAQ:PKOH) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Thursday. The brokerage presently has a $45.00 price objective on the industrial products company’s stock. Zacks Investment Research‘s price objective suggests a potential upside of 11.80% from the company’s current price.

According to Zacks, “Park Ohio Holdings Corp. operates through two segments, Manufactured Products and Logistics, which serve a wide variety of industrial markets. Manufactured Products designs and manufactures a broad range of high quality products engineered for specific customer applications. The principal customers of Manufactured Products are original equipment manufacturers and end-users in the automotive, railroad, truck and aerospace industries. Logistics is a leading national supplier of fasteners (e.g., nuts, bolts and screws) and other industrial products. “

PKOH has been the subject of several other reports. BidaskClub raised Park-Ohio from a “hold” rating to a “buy” rating in a research report on Friday, December 29th. ValuEngine cut Park-Ohio from a “strong-buy” rating to a “buy” rating in a research report on Thursday, November 9th. Finally, B. Riley reaffirmed a “neutral” rating on shares of Park-Ohio in a research report on Wednesday, November 1st. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $41.00.

Park-Ohio (PKOH) opened at $40.25 on Thursday. The company has a current ratio of 2.36, a quick ratio of 1.39 and a debt-to-equity ratio of 1.79. The firm has a market capitalization of $508.74, a PE ratio of 17.06 and a beta of 3.23. Park-Ohio has a 52-week low of $34.25 and a 52-week high of $47.90.

In related news, Director Ronna Romney sold 3,000 shares of the stock in a transaction that occurred on Monday, November 27th. The stock was sold at an average price of $46.41, for a total transaction of $139,230.00. Following the completion of the transaction, the director now directly owns 24,478 shares of the company’s stock, valued at $1,136,023.98. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Robert D. Vilsack sold 1,093 shares of the stock in a transaction that occurred on Wednesday, November 29th. The shares were sold at an average price of $46.91, for a total value of $51,272.63. The disclosure for this sale can be found here. Insiders have sold 21,715 shares of company stock valued at $1,008,612 over the last ninety days. 31.00% of the stock is owned by insiders.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Cornerstone Capital Management Holdings LLC. acquired a new position in Park-Ohio during the second quarter valued at approximately $197,000. Royal Bank of Canada boosted its position in Park-Ohio by 0.7% during the second quarter. Royal Bank of Canada now owns 5,663 shares of the industrial products company’s stock valued at $216,000 after purchasing an additional 37 shares during the last quarter. Ameriprise Financial Inc. acquired a new position in Park-Ohio during the second quarter valued at approximately $228,000. Barrow Hanley Mewhinney & Strauss LLC boosted its position in Park-Ohio by 154.5% during the third quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 5,067 shares of the industrial products company’s stock valued at $231,000 after purchasing an additional 3,076 shares during the last quarter. Finally, The Manufacturers Life Insurance Company boosted its position in Park-Ohio by 6.4% during the second quarter. The Manufacturers Life Insurance Company now owns 7,473 shares of the industrial products company’s stock valued at $285,000 after purchasing an additional 452 shares during the last quarter. 55.18% of the stock is owned by hedge funds and other institutional investors.

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Park-Ohio Company Profile

Park-Ohio Holdings Corp. is a diversified international company providing supply chain management outsourcing services, capital equipment used on their production lines and manufactured components used to assemble its products. The Company operates in three segments: Supply Technologies, Assembly Components and Engineered Products.

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