Morgan Joseph Downgrades Park-Ohio Holdings (PKOH) to Hold
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Morgan Joseph downgrades Park-Ohio Holdings (Nasdaq: PKOH) from Buy to Hold.
Morgan analyst says, "We are reducing our rating to Hold on end-market uncertainty and lowered near-term margin performance expectations. While we believe Park-Ohio is taking the proper steps to manage the company through this difficult environment, and should emerge as a stronger, more profitable company with a better cost structure and less competition once the cycle recovers, we would refrain from establishing new positions in PKOH stock until we have a better sense of when a sustainable rebound could occur."
To see more analyst ratings on PKOH Click Here.
Park-Ohio Holdings Corp., through its subsidiaries, provides supply chain logistics services primarily in the United States, Asia, Canada, Mexico, and Europe.
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