Zacks Investment Research upgraded shares of Oshkosh (NYSE:OSK) from a hold rating to a buy rating in a report published on Thursday, Zacks.com reports. Zacks Investment Research currently has $88.00 target price on the stock.
According to Zacks, “Oshkosh is supported by diverse end market and robust backlog. Further, the company updated fiscal 2019 expectations on strong backlogs along with integrated operations and supply chain. For the current fiscal year, the company projects earnings per share of $7.50-$7.80. Also, improved product pricing and increased volume sales bode well for its access equipment segment. The company also pays regular dividends and engages in share buyback programs to enhance shareholder value. However, increasing raw material and freight costs, and macro-economic challenges are headwinds for the company. Also, dependence on the U.S. government for the defense segment’s sales is a concern for Oshkosh. Additionally, fluctuating foreign currency, labor challenges, uncertain trade policies and tariffs are hurting the company’s bottom line.”
Other research analysts have also issued reports about the stock. Evercore ISI reaffirmed an in-line rating and issued a $31.00 price target (down from $40.00) on shares of Terex in a research note on Friday, May 31st. Citigroup raised their price target on shares of Martin Marietta Materials from $239.00 to $255.00 and gave the company a buy rating in a research note on Wednesday, May 1st. UBS Group set a $36.00 price target on shares of Halliburton and gave the company a buy rating in a research note on Tuesday, April 23rd. Finally, JPMorgan Chase & Co. decreased their price target on shares of Whitbread from GBX 5,400 ($70.56) to GBX 5,100 ($66.64) and set an overweight rating on the stock in a research note on Wednesday, May 1st. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have given a buy rating to the company. The stock currently has an average rating of Hold and a consensus price target of $84.86.
Oshkosh (NYSE:OSK) last issued its quarterly earnings results on Tuesday, April 30th. The company reported $1.82 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.62 by $0.20. The firm had revenue of $1.99 billion for the quarter, compared to analyst estimates of $1.98 billion. Oshkosh had a net margin of 6.76% and a return on equity of 21.98%. Oshkosh’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same period last year, the company posted $1.54 EPS. On average, equities analysts anticipate that Oshkosh will post 7.78 EPS for the current fiscal year.
In other Oshkosh news, VP James W. Johnson sold 11,029 shares of the stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $76.05, for a total value of $838,755.45. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.60% of the stock is currently owned by corporate insiders.
Hedge funds have recently added to or reduced their stakes in the business. Jane Street Group LLC acquired a new stake in Oshkosh in the 4th quarter valued at about $697,000. Segall Bryant & Hamill LLC raised its holdings in Oshkosh by 2.8% in the 4th quarter. Segall Bryant & Hamill LLC now owns 42,405 shares of the company’s stock valued at $2,600,000 after acquiring an additional 1,135 shares during the last quarter. Corient Capital Partners LLC raised its holdings in Oshkosh by 7.4% in the 1st quarter. Corient Capital Partners LLC now owns 16,486 shares of the company’s stock valued at $1,238,000 after acquiring an additional 1,132 shares during the last quarter. Donaldson Capital Management LLC acquired a new stake in Oshkosh in the 1st quarter valued at about $2,715,000. Finally, Stone Ridge Asset Management LLC increased its holdings in shares of Oshkosh by 35.2% during the 4th quarter. Stone Ridge Asset Management LLC now owns 31,137 shares of the company’s stock worth $1,909,000 after buying an additional 8,099 shares during the last quarter. Institutional investors own 88.68% of the company’s stock.
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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