Oshkosh Corporation (OSK) Stock Rating Upgraded by Zacks Investment Research
Oshkosh Corporation (NYSE:OSK) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Wednesday. The brokerage currently has a $94.00 target price on the stock. Zacks Investment Research‘s target price indicates a potential upside of 11.26% from the stock’s previous close.
According to Zacks, “Oshkosh Corporation designs, manufactures and markets of specialty vehicles and vehicle bodies. It operates through the following segments: Access Equipment, Defense, Fire & Emergency, and Commercial. The Access Equipment segment also includes Jerr-Dan-branded tow trucks and roll-back vehicle carriers sold to towing companies in the U. S. and abroad. The Defense segment manufactures and sells tactical trucks and supply parts to U. S. military and to other militaries around the world. The Fire & Emergency segment manufactures commercial and custom firefighting vehicles and equipment, aircraft rescue and firefighting vehicles, snow removal vehicles, simulators and other emergency vehicles primarily sold to fire departments, airports and other governmental units, and broadcast vehicles sold to broadcasters and television stations in the Americas and abroad. The Commercial segment manufactures rear and front discharge concrete mixers, refuse collection vehicles, portable and stationary concrete batch plants. “
Several other equities research analysts also recently issued reports on OSK. Royal Bank Of Canada lifted their price objective on Oshkosh Corporation from $80.00 to $85.00 and gave the stock an “outperform” rating in a report on Thursday, August 3rd. BidaskClub upgraded Oshkosh Corporation from a “buy” rating to a “strong-buy” rating in a report on Tuesday, August 8th. Deutsche Bank AG lifted their price objective on Oshkosh Corporation from $79.00 to $80.00 and gave the stock a “hold” rating in a report on Thursday, August 3rd. Drexel Hamilton upgraded Oshkosh Corporation from a “hold” rating to a “buy” rating and set a $83.00 price objective on the stock in a report on Friday, August 4th. Finally, Bank of America Corporation upgraded Oshkosh Corporation from an “underperform” rating to a “neutral” rating and lifted their price objective for the stock from $60.00 to $78.00 in a report on Thursday, August 3rd. Four investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of “Buy” and an average price target of $82.40.
Oshkosh Corporation (NYSE OSK) opened at 84.49 on Wednesday. The stock has a market capitalization of $6.32 billion, a price-to-earnings ratio of 25.07 and a beta of 1.77. The firm has a 50-day moving average of $77.01 and a 200 day moving average of $70.63. Oshkosh Corporation has a 52 week low of $52.00 and a 52 week high of $84.97.
Oshkosh Corporation (NYSE:OSK) last posted its quarterly earnings data on Wednesday, August 2nd. The company reported $1.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.33 by $0.51. Oshkosh Corporation had a return on equity of 14.49% and a net margin of 3.83%. The company had revenue of $2.04 billion for the quarter, compared to the consensus estimate of $1.95 billion. During the same period in the previous year, the business earned $1.13 EPS. Oshkosh Corporation’s revenue for the quarter was up 16.6% compared to the same quarter last year. On average, analysts anticipate that Oshkosh Corporation will post $3.95 EPS for the current year.
In related news, Director Craig P. Omtvedt sold 7,050 shares of the business’s stock in a transaction that occurred 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 transaction, the director now owns 32,374 shares in the company, valued at approximately $2,422,222.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Joseph H. Kimmitt sold 23,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 8th. The shares were sold at an average price of $75.83, for a total value of $1,744,090.00. Following the transaction, the insider now owns 70,262 shares of the company’s stock, valued at approximately $5,327,967.46. The disclosure for this sale can be found here. Insiders sold a total of 50,533 shares of company stock valued at $3,810,466 over the last quarter. Company insiders own 2.00% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in the stock. Koch Industries Inc. acquired a new position in Oshkosh Corporation during the 2nd quarter valued at approximately $264,000. 1st Global Advisors Inc. boosted its position in Oshkosh Corporation by 183.6% during the 2nd quarter. 1st Global Advisors Inc. now owns 12,204 shares of the company’s stock valued at $841,000 after purchasing an additional 7,901 shares during the period. Ameritas Investment Partners Inc. boosted its position in Oshkosh Corporation by 1.8% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 22,382 shares of the company’s stock valued at $1,542,000 after purchasing an additional 388 shares during the period. Raymond James Financial Services Advisors Inc. boosted its position in Oshkosh Corporation by 6.1% during the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 15,647 shares of the company’s stock valued at $1,078,000 after purchasing an additional 900 shares during the period. Finally, BlueCrest Capital Management Ltd acquired a new position in Oshkosh Corporation during the 2nd quarter valued at approximately $736,000. Institutional investors and hedge funds own 94.64% of the company’s stock.
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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