Oshkosh (OSK) Lifted 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 research report released on Tuesday morning, Zacks.com reports. Zacks Investment Research currently has $84.00 price target on the stock.

According to Zacks, “In the second quarter of fiscal 2019, Oshkosh’s earnings and revenues beat the respective Zacks Consensus Estimate. Further, the figures rose on a year-over-year basis, supported by diverse end market and robust backlog. Further, the company updated fiscal 2019 on the back of strong backlogs along with integrated operations and supply chain. For the current fiscal year, it projects earnings per share of $7.50-$7.80. Also, improved product pricing and increased volume sales bode well for the company’s access equipment segment.It also pays regular dividends and engages in share buyback programs to enhance shareholder value.However, increasing raw material costs and macro-economic challenges are headwinds. Also, dependence on the U.S. government for the Defense segment’s sales is a concern for Oshkosh.”

Other analysts have also issued reports about the company. UBS Group assumed coverage on Oshkosh in a report on Tuesday, April 23rd. They issued a neutral rating and a $85.00 price target on the stock. Royal Bank of Canada boosted their price target on Oshkosh to $90.00 and gave the stock an outperform rating in a research report on Thursday, January 31st. reissued a sell rating on shares of Oshkosh in a research report on Wednesday, February 13th. reissued a sell rating on shares of Oshkosh in a research report on Wednesday, February 13th. Finally, Bank of America upgraded Oshkosh from a neutral rating to a buy rating and set a $86.00 price objective for the company in a report on Thursday, January 31st. Three investment 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. The company has a consensus rating of Hold and a consensus price target of $85.21.

Shares of OSK traded down $0.37 during mid-day trading on Tuesday, reaching $76.17. The company had a trading volume of 1,021 shares, compared to its average volume of 601,615. Oshkosh has a twelve month low of $51.42 and a twelve month high of $84.86. The company has a current ratio of 1.86, a quick ratio of 1.03 and a debt-to-equity ratio of 0.33. The stock has a market cap of $5.26 billion, a PE ratio of 11.91, a PEG ratio of 0.84 and a beta of 1.94.

Oshkosh (NYSE:OSK) last released its earnings results on Tuesday, April 30th. The company reported $1.82 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.62 by $0.20. Oshkosh had a return on equity of 21.98% and a net margin of 6.76%. The company had revenue of $1.99 billion during the quarter, compared to analysts’ expectations of $1.98 billion. During the same period last year, the firm earned $1.54 EPS. The business’s revenue for the quarter was up 5.5% on a year-over-year basis. On average, sell-side analysts forecast that Oshkosh will post 7.76 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 30th. Stockholders of record on Thursday, May 16th will be issued a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.42%. The ex-dividend date of this dividend is Wednesday, May 15th. Oshkosh’s dividend payout ratio is presently 16.98%.

In other news, VP R Scott Grennier sold 3,784 shares of the business’s stock in a transaction that occurred on Friday, February 22nd. The stock was sold at an average price of $80.67, for a total transaction of $305,255.28. Following the completion of the sale, the vice president now owns 4,780 shares in the company, valued at $385,602.60. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP John J. Bryant sold 4,819 shares of the business’s stock in a transaction that occurred on Thursday, February 28th. The shares were sold at an average price of $77.85, for a total value of $375,159.15. Following the completion of the sale, the executive vice president now owns 6,309 shares of the company’s stock, valued at $491,155.65. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 24,228 shares of company stock valued at $1,914,789. Corporate insiders own 1.90% of the company’s stock.

Several hedge funds have recently modified their holdings of the stock. State of Alaska Department of Revenue boosted its stake in shares of Oshkosh by 2.0% in the fourth quarter. State of Alaska Department of Revenue now owns 7,726 shares of the company’s stock valued at $473,000 after buying an additional 149 shares during the period. JOYN Advisors Inc. boosted its stake in shares of Oshkosh by 18.2% in the fourth quarter. JOYN Advisors Inc. now owns 993 shares of the company’s stock valued at $61,000 after buying an additional 153 shares during the period. Wright Investors Service Inc. boosted its stake in shares of Oshkosh by 5.8% in the fourth quarter. Wright Investors Service Inc. now owns 3,276 shares of the company’s stock valued at $201,000 after buying an additional 180 shares during the period. Capital Investment Advisory Services LLC boosted its stake in shares of Oshkosh by 35.3% in the first quarter. Capital Investment Advisory Services LLC now owns 763 shares of the company’s stock valued at $57,000 after buying an additional 199 shares during the period. Finally, Sage Capital Advisors llc boosted its stake in shares of Oshkosh by 5.1% in the first quarter. Sage Capital Advisors llc now owns 5,498 shares of the company’s stock valued at $413,000 after buying an additional 268 shares during the period. Institutional investors and hedge funds own 91.36% 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 services; and chassis and service parts sales.

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