Oshkosh (NYSE:OSK) Trading Up 7.2% – Here’s Why

Oshkosh Co. (NYSE:OSK) shares shot up 7.2% during mid-day trading on Thursday . The company traded as high as $109.64 and last traded at $109.48. 1,295,877 shares traded hands during mid-day trading, an increase of 103% from the average session volume of 637,690 shares. The stock had previously closed at $102.13.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on OSK shares. Truist Financial upgraded Oshkosh from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $93.00 to $127.00 in a report on Tuesday. JPMorgan Chase & Co. lifted their target price on Oshkosh from $92.00 to $106.00 and gave the company a “neutral” rating in a research note on Friday. Morgan Stanley reduced their price objective on Oshkosh from $110.00 to $91.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 16th. Evercore ISI boosted their target price on Oshkosh from $137.00 to $147.00 and gave the company an “outperform” rating in a research report on Monday, May 19th. Finally, The Goldman Sachs Group cut their price objective on Oshkosh from $135.00 to $116.00 and set a “neutral” rating on the stock in a research report on Wednesday, March 19th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $120.29.

Oshkosh Trading Down 0.2%

The company has a debt-to-equity ratio of 0.14, a current ratio of 1.51 and a quick ratio of 0.76. The company’s 50 day moving average is $92.27 and its two-hundred day moving average is $97.99. The firm has a market cap of $7.04 billion, a P/E ratio of 10.57, a PEG ratio of 1.45 and a beta of 1.37.

Oshkosh (NYSE:OSK) last issued its quarterly earnings results on Wednesday, April 30th. The company reported $1.92 earnings per share for the quarter, missing analysts’ consensus estimates of $2.02 by ($0.10). Oshkosh had a net margin of 6.34% and a return on equity of 19.31%. The company had revenue of $2.31 billion during the quarter, compared to analyst estimates of $2.42 billion. During the same period in the prior year, the business earned $2.89 EPS. The business’s revenue for the quarter was down 9.1% on a year-over-year basis. On average, sell-side analysts predict that Oshkosh Co. will post 10.96 earnings per share for the current year.

Oshkosh Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 30th. Shareholders of record on Friday, May 16th were given a dividend of $0.51 per share. The ex-dividend date was Friday, May 16th. This represents a $2.04 annualized dividend and a yield of 1.86%. Oshkosh’s dividend payout ratio (DPR) is presently 21.79%.

Institutional Trading of Oshkosh

Institutional investors and hedge funds have recently made changes to their positions in the company. AQR Capital Management LLC increased its position in Oshkosh by 267.3% in the 1st quarter. AQR Capital Management LLC now owns 1,363,556 shares of the company’s stock valued at $126,224,000 after acquiring an additional 992,313 shares during the period. Norges Bank acquired a new position in shares of Oshkosh during the fourth quarter valued at about $72,692,000. Fuller & Thaler Asset Management Inc. purchased a new position in Oshkosh during the first quarter worth about $54,860,000. American Century Companies Inc. boosted its holdings in Oshkosh by 23.3% during the fourth quarter. American Century Companies Inc. now owns 2,030,410 shares of the company’s stock worth $193,031,000 after purchasing an additional 384,141 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in Oshkosh by 15.3% during the first quarter. Dimensional Fund Advisors LP now owns 2,672,423 shares of the company’s stock worth $251,417,000 after purchasing an additional 354,714 shares during the last quarter. Institutional investors own 92.36% of the company’s stock.

About Oshkosh

Oshkosh Corporation provides purpose-built vehicles and equipment worldwide. The company operates through three segments: Access, Defense, and Vocational segment. Its Access Equipment segment design and manufacture aerial work platform and telehandlers for use in construction, industrial, and maintenance applications; offers financing and leasing solutions including rental fleet loans, leases, and floor plan and retail financing; and towing and recovery equipment, which includes carriers, wreckers, and rotators, as well as provides equipment installation and sale of chassis and service parts.