Oshkosh (NYSE:OSK) Sets New 52-Week High on Strong Earnings

Oshkosh Corp (NYSE:OSK)’s share price hit a new 52-week high during trading on Wednesday following a stronger than expected earnings report. The stock traded as high as $89.77 and last traded at $89.43, with a volume of 306268 shares. The stock had previously closed at $84.39.

The company reported $2.17 earnings per share for the quarter, beating analysts’ consensus estimates of $1.88 by $0.29. The firm had revenue of $2.20 billion during the quarter, compared to analyst estimates of $2.11 billion. Oshkosh had a return on equity of 22.70% and a net margin of 7.04%. The business’s quarterly revenue was up 6.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.80 earnings per share.

OSK has been the subject of a number of analyst reports. Longbow Research lowered Oshkosh from a “buy” rating to a “neutral” rating in a research note on Thursday. They noted that the move was a valuation call. JPMorgan Chase & Co. raised Oshkosh from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $85.00 to $90.00 in a research note on Wednesday, September 11th. Dougherty & Co initiated coverage on Oshkosh in a research note on Wednesday, August 28th. They set a “buy” rating and a $80.00 price objective for the company. Citigroup dropped their price objective on Oshkosh from $95.00 to $88.00 and set a “buy” rating for the company in a research note on Tuesday, August 6th. Finally, Evercore ISI raised Oshkosh from an “in-line” rating to an “outperform” rating and set a $79.00 price objective for the company in a research note on Thursday, August 1st. Four equities research analysts have rated the stock with a sell rating, two have given a hold rating and nine have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $86.27.

Several institutional investors have recently made changes to their positions in OSK. BB&T Corp increased its holdings in shares of Oshkosh by 3.4% during the third quarter. BB&T Corp now owns 56,051 shares of the company’s stock valued at $4,249,000 after acquiring an additional 1,825 shares in the last quarter. Cozad Asset Management Inc. increased its holdings in shares of Oshkosh by 4.9% during the third quarter. Cozad Asset Management Inc. now owns 53,470 shares of the company’s stock valued at $4,053,000 after acquiring an additional 2,500 shares in the last quarter. California Public Employees Retirement System increased its holdings in shares of Oshkosh by 24.3% during the third quarter. California Public Employees Retirement System now owns 165,628 shares of the company’s stock valued at $12,555,000 after acquiring an additional 32,398 shares in the last quarter. Commonwealth Equity Services LLC increased its holdings in shares of Oshkosh by 3.1% during the third quarter. Commonwealth Equity Services LLC now owns 8,598 shares of the company’s stock valued at $651,000 after acquiring an additional 259 shares in the last quarter. Finally, State of Tennessee Treasury Department increased its holdings in shares of Oshkosh by 4.4% during the third quarter. State of Tennessee Treasury Department now owns 57,217 shares of the company’s stock valued at $4,337,000 after acquiring an additional 2,400 shares in the last quarter. Institutional investors own 90.32% of the company’s stock.

The company has a quick ratio of 1.19, a current ratio of 1.99 and a debt-to-equity ratio of 0.32. The firm has a fifty day moving average price of $76.26 and a two-hundred day moving average price of $77.41. The stock has a market capitalization of $5.77 billion, a P/E ratio of 13.42, a P/E/G ratio of 0.85 and a beta of 1.97.

About Oshkosh (NYSE:OSK)

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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