Park-Ohio Holdings Receives a Hold from B.Riley FBR

In a report released today, Christopher Van Horn from B.Riley FBR reiterated a Hold rating on Park-Ohio Holdings (NASDAQ: PKOH), with a price target of $37. The company’s shares opened today at $37.50.

Van Horn commented:

“Park-Ohio (PKOH) shares closed up 6.1% vs. the the company’s 1Q18 earnings report on May 8, after market close. The company exceeded expectations for revenue and earnings as higher sales—mainly reflecting higher organic growth —more than offset slightly lower-than-anticipated margin results. The first quarter was marked by impressive organic growth in the engineered products business, where we estimate sales were up 24% Y/Y on an organic basis, following up on organic growth of 24% in 3Q17 and of 27% in 4Q17. That business could see a slowdown in its growth rate later this year though as comps will be tougher.”

According to TipRanks.com, Horn is a 4-star analyst with an average return of 6.8% and a 53.4% success rate. Horn covers the Industrial Goods sector, focusing on stocks such as Superior Industries International, Tower International, and Unique Fabricating.

Park-Ohio Holdings has an analyst consensus of Hold, with a price target consensus of $37.

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The company has a one-year high of $47.90 and a one-year low of $34.33. Currently, Park-Ohio Holdings has an average volume of 24.08K.

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Park-Ohio Holdings Corp. engages in the provision of supply chain logistics services and manufactures aluminum products. It operates through the following business segments: Supply Technologies, Assembly Components, and Engineered Products.