Oshkosh Corp. (NYSE:OSK) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a research report issued to clients and investors on Wednesday.
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 research analysts have also recently issued reports on OSK. Bank of America Corp. set a $62.00 target price on shares of Oshkosh Corp. and gave the company a “buy” rating in a research report on Saturday, September 17th. JPMorgan Chase & Co. raised shares of Oshkosh Corp. from a “neutral” rating to an “overweight” rating and set a $60.00 target price for the company in a research report on Monday, September 26th. Stifel Nicolaus boosted their price target on Oshkosh Corp. from $53.00 to $63.00 and gave the company a “buy” rating in a research note on Friday, July 29th. Drexel Hamilton reaffirmed a “hold” rating on shares of Oshkosh Corp. in a research note on Monday, September 26th. Finally, Jefferies Group reaffirmed a “buy” rating and issued a $65.00 price target on shares of Oshkosh Corp. in a research note on Monday, September 26th. One analyst has rated the stock with a sell rating, five have issued a hold rating and twelve have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $54.94.
Shares of Oshkosh Corp. (NYSE:OSK) opened at 53.30 on Wednesday. The company has a market cap of $3.92 billion, a price-to-earnings ratio of 19.55 and a beta of 1.89. The firm’s 50-day moving average is $54.76 and its 200-day moving average is $49.08. Oshkosh Corp. has a one year low of $29.59 and a one year high of $57.75.
Oshkosh Corp. (NYSE:OSK) last announced its earnings results on Thursday, July 28th. The company reported $1.13 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.00 by $0.13. The company earned $1.75 billion during the quarter, compared to analysts’ expectations of $1.61 billion. Oshkosh Corp. had a net margin of 3.36% and a return on equity of 11.02%. Oshkosh Corp.’s quarterly revenue was up 8.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.13 earnings per share. Analysts expect that Oshkosh Corp. will post $2.91 EPS for the current fiscal year.
In other Oshkosh Corp. news, VP R Scott Grennier sold 6,430 shares of the company’s stock in a transaction on Tuesday, August 2nd. The shares were sold at an average price of $54.12, for a total value of $347,991.60. Following the completion of the transaction, the vice president now owns 14,366 shares in the company, valued at $777,487.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP David M. Sagehorn sold 49,495 shares of the company’s stock in a transaction on Monday, August 1st. The shares were sold at an average price of $54.13, for a total transaction of $2,679,164.35. Following the completion of the transaction, the vice president now owns 111,113 shares of the company’s stock, valued at approximately $6,014,546.69. The disclosure for this sale can be found here. 3.10% of the stock is currently owned by company insiders.
A number of institutional investors have recently added to or reduced their stakes in the stock. Emerald Acquisition Ltd. bought a new position in Oshkosh Corp. during the second quarter valued at about $19,300,000. Thrivent Financial for Lutherans increased its stake in shares of Oshkosh Corp. by 18.3% in the second quarter. Thrivent Financial for Lutherans now owns 2,267,140 shares of the company’s stock valued at $108,165,000 after buying an additional 350,960 shares during the period. Vanguard Group Inc. increased its stake in shares of Oshkosh Corp. by 3.7% in the second quarter. Vanguard Group Inc. now owns 5,313,307 shares of the company’s stock valued at $253,498,000 after buying an additional 187,531 shares during the period. BlackRock Fund Advisors increased its stake in shares of Oshkosh Corp. by 5.2% in the second quarter. BlackRock Fund Advisors now owns 2,544,627 shares of the company’s stock valued at $121,404,000 after buying an additional 125,623 shares during the period. Finally, Boston Advisors LLC acquired a new stake in shares of Oshkosh Corp. during the second quarter valued at $5,797,000. Institutional investors own 95.66% of the company’s stock.
Oshkosh Corp. Company Profile
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Oshkosh Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Oshkosh Corp. and related companies with MarketBeat.com's FREE daily email newsletter.