Oshkosh (OSK) Upgraded to Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of Oshkosh (NYSE:OSK) from a hold rating to a buy rating in a report published on Friday. The firm currently has $77.00 price objective on the stock.

According to Zacks, “Strong backlogs across all the four segments, along with expectation of a favorable market demand, have encouraged Oshkosh to set positive guidance for fiscal 2019. Also, solid product demand in the North American market and other international markets led to the robust demand for Oshkosh’s access equipment segment’s products. It also pays regular dividends and engages in share buyback programs to enhance shareholder value. In the past three months, shares of the company have outperformed the industry it belongs to.”

A number of other research analysts have also commented on the company. ValuEngine lowered Oshkosh from a sell rating to a strong sell rating in a research report on Saturday, October 6th. SunTrust Banks increased their price objective on Oshkosh to $96.00 and gave the company a buy rating in a research report on Friday, November 2nd. Goldman Sachs Group lowered Oshkosh from a neutral rating to a sell rating and decreased their price objective for the company from $66.00 to $58.00 in a research report on Monday, December 10th. JPMorgan Chase & Co. upgraded Oshkosh from a neutral rating to an overweight rating and set a $80.00 price objective on the stock in a research report on Thursday. Finally, Royal Bank of Canada reiterated a buy rating and issued a $82.00 price objective on shares of Oshkosh in a research report on Monday, January 7th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and eight have issued a buy rating to the company’s stock. Oshkosh has a consensus rating of Hold and a consensus price target of $82.86.

NYSE OSK traded up $0.02 during trading hours on Friday, reaching $68.40. 548,954 shares of the company’s stock were exchanged, compared to its average volume of 655,207. The firm has a market cap of $4.67 billion, a PE ratio of 10.75, a price-to-earnings-growth ratio of 0.64 and a beta of 1.74. Oshkosh has a one year low of $51.42 and a one year high of $100.26. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.93 and a quick ratio of 1.21.

Oshkosh (NYSE:OSK) last announced its quarterly earnings data on Thursday, November 1st. The company reported $1.80 EPS for the quarter, beating the Zacks’ consensus estimate of $1.45 by $0.35. The firm had revenue of $2.06 billion for the quarter, compared to analyst estimates of $1.98 billion. Oshkosh had a return on equity of 19.93% and a net margin of 6.12%. The business’s quarterly revenue was up 4.8% compared to the same quarter last year. During the same period last year, the company earned $1.38 EPS. As a group, equities analysts expect that Oshkosh will post 7.07 earnings per share for the current year.

In related news, EVP Frank R. Nerenhausen sold 10,000 shares of the firm’s stock in a transaction on Wednesday, November 28th. The stock was sold at an average price of $70.00, for a total transaction of $700,000.00. Following the sale, the executive vice president now owns 62,385 shares of the company’s stock, valued at approximately $4,366,950. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Tina R. Schoner acquired 630 shares of the company’s stock in a transaction that occurred on Friday, November 16th. The shares were acquired at an average cost of $66.78 per share, for a total transaction of $42,071.40. Following the purchase, the senior vice president now directly owns 630 shares in the company, valued at approximately $42,071.40. The disclosure for this purchase can be found here. Corporate insiders own 1.60% of the company’s stock.

A number of institutional investors have recently modified their holdings of OSK. FMR LLC raised its stake in Oshkosh by 75.0% during the 3rd quarter. FMR LLC now owns 1,563,930 shares of the company’s stock worth $111,414,000 after buying an additional 670,251 shares during the period. BlackRock Inc. raised its stake in Oshkosh by 9.9% during the 3rd quarter. BlackRock Inc. now owns 7,216,221 shares of the company’s stock worth $514,083,000 after buying an additional 652,069 shares during the period. Renaissance Technologies LLC raised its stake in Oshkosh by 931.2% during the 3rd quarter. Renaissance Technologies LLC now owns 304,200 shares of the company’s stock worth $21,671,000 after buying an additional 274,700 shares during the period. First Trust Advisors LP raised its stake in Oshkosh by 112.0% during the 3rd quarter. First Trust Advisors LP now owns 370,276 shares of the company’s stock worth $26,378,000 after buying an additional 195,596 shares during the period. Finally, Marshall Wace LLP acquired a new stake in Oshkosh during the 3rd quarter worth $12,408,000. 89.69% of the stock is currently owned by institutional investors and hedge funds.

About Oshkosh

Oshkosh Corporation designs, manufactures, and markets specialty vehicles and vehicle bodies worldwide. The company's Access Equipment segment provides aerial work platforms and telehandlers for use in various construction, industrial, institutional, and general maintenance applications. This segment also offers rental fleet loans and leases, and floor plan and retail financing through third-party funding arrangements; towing and recovery equipment; carriers and wreckers; equipment installation services; and chassis and service parts sales.

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