Analysts Expect Park-Ohio Holdings Corp. (NASDAQ:PKOH) Will Post Quarterly Sales of $430.20 Million

Brokerages forecast that Park-Ohio Holdings Corp. (NASDAQ:PKOH) will announce sales of $430.20 million for the current quarter, Zacks Investment Research reports. Three analysts have provided estimates for Park-Ohio’s earnings, with estimates ranging from $428.90 million to $432.30 million. Park-Ohio reported sales of $414.30 million in the same quarter last year, which indicates a positive year-over-year growth rate of 3.8%. The firm is scheduled to announce its next quarterly earnings report 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 forecast that the company will post sales of $1.81 billion, with estimates ranging from $1.78 billion to $1.83 billion. Zacks’ sales averages are a mean average based on a survey of research analysts that cover Park-Ohio.

Park-Ohio (NASDAQ:PKOH) last posted its quarterly earnings data on Monday, August 5th. The industrial products company reported $1.07 EPS for the quarter, meeting analysts’ consensus estimates of $1.07. The company had revenue of $415.30 million during the quarter, compared to analysts’ expectations of $438.60 million. Park-Ohio had a return on equity of 16.77% and a net margin of 2.89%.

PKOH has been the subject of a number of analyst reports. Zacks Investment Research cut Park-Ohio from a “buy” rating to a “hold” rating in a research report on Saturday, August 17th. B. Riley cut their target price on 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 cut Park-Ohio from a “hold” rating to a “sell” rating in a research report on Friday, October 4th. TheStreet cut Park-Ohio from a “b-” rating to a “c+” rating in a research report on Monday, August 5th. Finally, ValuEngine upgraded Park-Ohio from a “strong sell” rating to a “sell” rating in a research report on Wednesday, October 2nd. Two equities research analysts have rated the stock with a sell rating and two have given a hold rating to the company. The company has a consensus rating of “Hold” and an average target price of $30.50.

In other Park-Ohio news, Director James W. Wert purchased 2,500 shares of Park-Ohio stock in a transaction that occurred on Friday, August 9th. The stock was purchased at an average price of $27.62 per share, with a total value of $69,050.00. Following the completion of the acquisition, the director now owns 80,320 shares of the company’s stock, valued at approximately $2,218,438.40. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 directly owns 18,909 shares of the company’s stock, valued at approximately $494,281.26. The disclosure for this sale can be found here. Corporate insiders own 31.20% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Royal Bank of Canada lifted its holdings in 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 worth $38,000 after buying an additional 364 shares during the last quarter. Algert Global LLC increased its position in Park-Ohio by 6.8% in the 2nd quarter. Algert Global LLC now owns 8,862 shares of the industrial products company’s stock valued at $289,000 after acquiring an additional 567 shares during the period. Swiss National Bank increased its position in Park-Ohio by 4.8% in the 2nd quarter. Swiss National Bank now owns 15,400 shares of the industrial products company’s stock valued at $502,000 after acquiring an additional 700 shares during the period. Vanguard Group Inc. increased its position in Park-Ohio by 0.3% in the 2nd quarter. Vanguard Group Inc. now owns 389,815 shares of the industrial products company’s stock valued at $12,704,000 after acquiring an additional 996 shares during the period. Finally, Russell Investments Group Ltd. increased its position in Park-Ohio by 9.2% in the 2nd quarter. Russell Investments Group Ltd. now owns 11,841 shares of the industrial products company’s stock valued at $386,000 after acquiring an additional 1,000 shares during the period. 54.67% of the stock is owned by hedge funds and other institutional investors.

PKOH traded up $0.18 during midday trading on Friday, reaching $27.70. The company had a trading volume of 968 shares, compared to its average volume of 26,922. The company has a quick ratio of 1.32, a current ratio of 2.37 and a debt-to-equity ratio of 1.89. The business has a 50-day moving average of $29.16 and a two-hundred day moving average of $31.71. The company has a market cap of $352.57 million, a P/E ratio of 6.47 and a beta of 2.33. Park-Ohio has a 1 year low of $25.74 and a 1 year high of $38.77.

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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Earnings History and Estimates for Park-Ohio (NASDAQ:PKOH)

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