Oshkosh (OSK) Price Target Lowered to $77.00 at Bank of America
Oshkosh (NYSE:OSK) had its price target reduced by Bank of America from $84.00 to $77.00 in a research report sent to investors on Friday morning. Bank of America currently has a neutral rating on the stock.
A number of other brokerages have also issued reports on OSK. Zacks Investment Research raised shares of Oshkosh from a hold rating to a buy rating and set a $80.00 target price for the company in a research note on Sunday, July 15th. Longbow Research began coverage on shares of Oshkosh in a research note on Friday, July 13th. They set a buy rating and a $88.00 target price for the company. ValuEngine downgraded shares of Oshkosh from a sell rating to a strong sell rating in a report on Friday, August 10th. SunTrust Banks raised their price target on shares of Oshkosh to $110.00 and gave the company a buy rating in a report on Friday, April 20th. Finally, KeyCorp cut their price target on shares of Oshkosh from $104.00 to $88.00 and set an overweight rating on the stock in a report on Wednesday, August 1st. One analyst has rated the stock with a sell rating, five have issued a hold rating and ten have assigned a buy rating to the company’s stock. The company presently has a consensus rating of Buy and a consensus target price of $91.07.
Shares of NYSE:OSK opened at $70.33 on Friday. The firm has a market cap of $5.15 billion, a price-to-earnings ratio of 16.71, a P/E/G ratio of 0.64 and a beta of 1.51. Oshkosh has a 12-month low of $66.77 and a 12-month high of $100.26. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.88 and a quick ratio of 1.16.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 30th. Stockholders of record on Thursday, August 16th will be issued a dividend of $0.24 per share. The ex-dividend date of this dividend is Wednesday, August 15th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.36%. Oshkosh’s dividend payout ratio is currently 22.59%.
In other news, insider Wilson R. Jones sold 47,000 shares of the firm’s stock in a transaction on Thursday, August 2nd. The shares were sold at an average price of $72.02, for a total transaction of $3,384,940.00. Following the transaction, the insider now owns 180,862 shares in the company, valued at approximately $13,025,681.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP David M. Sagehorn sold 45,000 shares of Oshkosh stock in a transaction on Tuesday, August 7th. The stock was sold at an average price of $75.40, for a total transaction of $3,393,000.00. Following the completion of the transaction, the vice president now owns 179,097 shares in the company, valued at approximately $13,503,913.80. The disclosure for this sale can be found here. 1.60% of the stock is currently owned by company insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in OSK. JPMorgan Chase & Co. raised its holdings in Oshkosh by 31.7% in the 1st quarter. JPMorgan Chase & Co. now owns 3,574,951 shares of the company’s stock worth $276,236,000 after acquiring an additional 860,630 shares during the period. FMR LLC raised its holdings in Oshkosh by 292.0% in the 2nd quarter. FMR LLC now owns 893,679 shares of the company’s stock worth $62,843,000 after acquiring an additional 665,690 shares during the period. Aristotle Capital Management LLC raised its holdings in Oshkosh by 8.9% in the 1st quarter. Aristotle Capital Management LLC now owns 5,035,322 shares of the company’s stock worth $389,079,000 after acquiring an additional 410,630 shares during the period. Assenagon Asset Management S.A. bought a new position in Oshkosh in the 2nd quarter worth $23,987,000. Finally, Vaughan Nelson Investment Management L.P. raised its holdings in Oshkosh by 76.5% in the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 602,050 shares of the company’s stock worth $46,521,000 after acquiring an additional 260,910 shares during the period. Hedge funds and other institutional investors own 92.44% of the company’s stock.
Oshkosh Company Profile
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; and chassis and service parts sales.
See Also: Diversification
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