Oshkosh Corporation (NYSE:OSK) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Wednesday, August 9th.
According to Zacks, “Oshkosh Corporation is a leading designer, manufacturer and marketer of a broad range of specialty access equipment, commercial, fire & emergency and military vehicles and vehicle bodies. Oshkosh Corporation manufactures, distributes and services products under the brands of Oshkosh, JLG, Pierce, McNeilus, Medtec, Jerr-Dan, BAI, Oshkosh Specialty Vehicles, Frontline, SMIT, Geesink, Norba, Kiggen, Con-E-Co, London and IMT. Oshkosh products are valued worldwide in businesses where high quality, superior performance, rugged reliability and long-term value are paramount. “
A number of other equities analysts also recently weighed in on the stock. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $85.00 target price (up from $80.00) on shares of Oshkosh Corporation in a research note on Wednesday, August 9th. BidaskClub raised shares of Oshkosh Corporation from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, August 8th. Drexel Hamilton raised shares of Oshkosh Corporation from a “hold” rating to a “buy” rating and set a $83.00 target price for the company in a research note on Friday, August 4th. Deutsche Bank AG lifted their price target on shares of Oshkosh Corporation from $79.00 to $80.00 and gave the stock a “hold” rating in a research report on Thursday, August 3rd. Finally, Bank of America Corporation upgraded shares of Oshkosh Corporation from an “underperform” rating to a “neutral” rating and lifted their price target for the stock from $60.00 to $78.00 in a research report on Thursday, August 3rd. Seven analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. Oshkosh Corporation presently has a consensus rating of “Buy” and a consensus price target of $75.67.
Oshkosh Corporation (OSK) traded down 0.68% on Wednesday, hitting $73.38. 485,281 shares of the stock traded hands. The stock has a 50-day moving average price of $70.95 and a 200 day moving average price of $68.64. The stock has a market cap of $5.49 billion, a P/E ratio of 21.77 and a beta of 1.81. Oshkosh Corporation has a 12-month low of $50.77 and a 12-month high of $77.20.
Oshkosh Corporation (NYSE:OSK) last announced its earnings results on Wednesday, August 2nd. The company reported $1.84 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.33 by $0.51. Oshkosh Corporation had a net margin of 3.83% and a return on equity of 14.49%. The company had revenue of $2.04 billion during the quarter, compared to the consensus estimate of $1.95 billion. During the same period in the previous year, the firm posted $1.13 earnings per share. The company’s revenue was up 16.6% on a year-over-year basis. On average, equities analysts expect that Oshkosh Corporation will post $3.95 EPS for the current fiscal year.
In other news, VP Robert S. Messina sold 3,400 shares of the business’s stock in a transaction on Monday, August 7th. The shares were sold at an average price of $75.23, for a total value of $255,782.00. Following the sale, the vice president now owns 12,558 shares of the company’s stock, valued at $944,738.34. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Craig P. Omtvedt sold 7,050 shares of the business’s stock in a transaction on Friday, August 4th. The stock was sold at an average price of $74.82, for a total transaction of $527,481.00. Following the completion of the sale, the director now directly owns 32,374 shares in the company, valued at approximately $2,422,222.68. The disclosure for this sale can be found here. In the last ninety days, insiders sold 50,533 shares of company stock worth $3,810,466. Insiders own 2.00% of the company’s stock.
Several hedge funds have recently made changes to their positions in the company. Raymond James Trust N.A. raised its stake in Oshkosh Corporation by 0.9% in the second quarter. Raymond James Trust N.A. now owns 3,054 shares of the company’s stock valued at $210,000 after buying an additional 28 shares during the period. Hanseatic Management Services Inc. raised its stake in Oshkosh Corporation by 0.3% in the second quarter. Hanseatic Management Services Inc. now owns 15,738 shares of the company’s stock valued at $1,084,000 after buying an additional 41 shares during the period. M&T Bank Corp raised its stake in Oshkosh Corporation by 1.2% in the second quarter. M&T Bank Corp now owns 5,135 shares of the company’s stock valued at $353,000 after buying an additional 61 shares during the period. Advisors Asset Management Inc. raised its stake in Oshkosh Corporation by 3.5% in the second quarter. Advisors Asset Management Inc. now owns 2,039 shares of the company’s stock valued at $140,000 after buying an additional 68 shares during the period. Finally, 1st Global Advisors Inc. raised its stake in Oshkosh Corporation by 2.2% in the first quarter. 1st Global Advisors Inc. now owns 4,303 shares of the company’s stock valued at $295,000 after buying an additional 91 shares during the period. 95.68% of the stock is currently owned by institutional investors and hedge funds.
About Oshkosh Corporation
Oshkosh Corporation is a manufacturer and marketer of access equipment, specialty vehicles and truck bodies for the primary markets of defense, concrete placement, refuse hauling, access equipment, and fire and emergency. The company’s brands include Oshkosh, JLG, Pierce, McNeilus, IMT, Frontline, Jerr-Dan, CON-E-CO and London.
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