KeyCorp Reaffirms “Overweight” Rating for Oshkosh Corporation (OSK)

KeyCorp restated their overweight rating on shares of Oshkosh Corporation (NYSE:OSK) in a research note released on Wednesday morning. KeyCorp currently has a $100.00 price objective on the stock, up from their previous price objective of $90.00. KeyCorp also issued estimates for Oshkosh Corporation’s Q3 2018 earnings at $1.99 EPS, Q1 2019 earnings at $0.57 EPS, Q2 2019 earnings at $1.02 EPS, Q3 2019 earnings at $2.17 EPS and Q4 2019 earnings at $1.41 EPS.

OSK has been the subject of a number of other research reports. Citigroup Inc raised their price target on shares of Oshkosh Corporation from $85.00 to $100.00 and gave the stock a buy rating in a report on Friday, October 13th. ValuEngine raised shares of Oshkosh Corporation from a hold rating to a buy rating in a report on Friday, September 1st. Zacks Investment Research cut shares of Oshkosh Corporation from a hold rating to a sell rating in a report on Tuesday, July 11th. Deutsche Bank AG reissued a hold rating and set a $86.00 target price (up previously from $80.00) on shares of Oshkosh Corporation in a report on Monday, October 9th. Finally, Robert W. Baird reissued a buy rating and set a $93.00 target price on shares of Oshkosh Corporation in a report on Thursday, October 12th. Five analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of Buy and a consensus price target of $92.85.

Oshkosh Corporation (NYSE OSK) opened at $86.64 on Wednesday. The company has a current ratio of 1.81, a quick ratio of 0.92 and a debt-to-equity ratio of 0.35. The firm has a market capitalization of $6.51 billion, a PE ratio of 20.53, a price-to-earnings-growth ratio of 1.42 and a beta of 1.87.

Oshkosh Corporation (NYSE:OSK) last posted its quarterly earnings results on Tuesday, October 31st. The company reported $1.38 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.02 by $0.36. The business had revenue of $1.96 billion during the quarter, compared to analysts’ expectations of $1.90 billion. Oshkosh Corporation had a net margin of 4.18% and a return on equity of 15.14%. The business’s quarterly revenue was up 11.8% on a year-over-year basis. During the same quarter last year, the company posted $1.05 earnings per share. analysts predict that Oshkosh Corporation will post 4.51 earnings per share for the current fiscal year.

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The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 30th. Shareholders of record on Thursday, November 16th will be issued a $0.24 dividend. This is a boost from Oshkosh Corporation’s previous quarterly dividend of $0.21. The ex-dividend date of this dividend is Wednesday, November 15th. This represents a $0.96 dividend on an annualized basis and a yield of 1.11%. Oshkosh Corporation’s payout ratio is presently 22.34%.

In other Oshkosh Corporation news, VP R Scott Grennier sold 4,883 shares of Oshkosh Corporation stock in a transaction on Thursday, August 10th. The shares were sold at an average price of $74.40, for a total value of $363,295.20. Following the completion of the transaction, the vice president now owns 4,912 shares of the company’s stock, valued at $365,452.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Robert S. Messina sold 3,400 shares of Oshkosh Corporation stock in a transaction on Monday, August 7th. The shares were sold at an average price of $75.23, for a total transaction of $255,782.00. Following the completion of the transaction, the vice president now directly owns 12,558 shares of the company’s stock, valued at approximately $944,738.34. The disclosure for this sale can be found here. Insiders sold 44,283 shares of company stock valued at $3,393,817 in the last ninety days. 2.00% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Advisors Asset Management Inc. grew its position in shares of 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 purchasing an additional 68 shares during the period. Paradigm Asset Management Co. LLC grew its position in shares of Oshkosh Corporation by 4.7% in the second quarter. Paradigm Asset Management Co. LLC now owns 2,250 shares of the company’s stock valued at $155,000 after purchasing an additional 100 shares during the period. ARP Americas LLC acquired a new stake in shares of Oshkosh Corporation in the second quarter valued at about $206,000. Raymond James Trust N.A. grew its position in shares of 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 purchasing an additional 28 shares during the period. Finally, CrestPoint Capital Management LLC acquired a new stake in shares of Oshkosh Corporation in the second quarter valued at about $234,000. 94.35% of the stock is owned by institutional investors.

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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