Oshkosh (NYSE:OSK) Upgraded to “Hold” at Zacks Research

Zacks Research upgraded shares of Oshkosh (NYSE:OSK) from a strong sell rating to a hold rating in a research note published on Thursday,Zacks.com reports.

OSK has been the topic of a number of other reports. Sanford C. Bernstein lifted their price target on Oshkosh from $132.00 to $140.00 and gave the stock a “market perform” rating in a research note on Friday, December 19th. Bank of America upgraded shares of Oshkosh from an “underperform” rating to a “neutral” rating and set a $149.00 price target for the company in a report on Tuesday, February 3rd. Barclays started coverage on shares of Oshkosh in a research report on Tuesday, November 25th. They set an “overweight” rating and a $150.00 price target for the company. Truist Financial set a $183.00 price objective on shares of Oshkosh in a research report on Friday, January 30th. Finally, Wall Street Zen raised Oshkosh from a “hold” rating to a “buy” rating in a research note on Saturday, February 21st. Thirteen analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, Oshkosh has an average rating of “Moderate Buy” and a consensus target price of $164.69.

Oshkosh Trading Down 3.4%

Oshkosh stock traded down $5.38 during mid-day trading on Thursday, hitting $154.61. The company’s stock had a trading volume of 654,996 shares, compared to its average volume of 764,990. The business has a 50 day moving average price of $156.83 and a 200-day moving average price of $140.13. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.94 and a quick ratio of 1.05. Oshkosh has a 12 month low of $76.82 and a 12 month high of $180.49. The stock has a market cap of $9.67 billion, a price-to-earnings ratio of 15.43, a price-to-earnings-growth ratio of 0.81 and a beta of 1.37.

Oshkosh (NYSE:OSK) last announced its quarterly earnings data on Thursday, January 29th. The company reported $2.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.33 by ($0.07). Oshkosh had a net margin of 6.21% and a return on equity of 15.69%. The company had revenue of $2.69 billion for the quarter, compared to the consensus estimate of $2.60 billion. During the same period last year, the business posted $2.58 earnings per share. The firm’s quarterly revenue was up 3.5% compared to the same quarter last year. As a group, analysts forecast that Oshkosh will post 10.96 EPS for the current year.

Oshkosh Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 3rd. Stockholders of record on Tuesday, February 17th were given a $0.57 dividend. The ex-dividend date of this dividend was Tuesday, February 17th. This represents a $2.28 annualized dividend and a dividend yield of 1.5%. This is an increase from Oshkosh’s previous quarterly dividend of $0.51. Oshkosh’s dividend payout ratio is currently 22.75%.

Insider Activity at Oshkosh

In related news, SVP Anupam Khare sold 4,000 shares of Oshkosh stock in a transaction that occurred on Friday, February 27th. The stock was sold at an average price of $169.07, for a total transaction of $676,280.00. Following the sale, the senior vice president directly owned 13,577 shares in the company, valued at $2,295,463.39. The trade was a 22.76% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.55% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Oshkosh

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Southpoint Capital Advisors LP bought a new position in shares of Oshkosh in the 4th quarter worth about $175,882,000. Norges Bank purchased a new stake in Oshkosh in the fourth quarter worth about $127,907,000. First Trust Advisors LP lifted its holdings in shares of Oshkosh by 408.7% during the fourth quarter. First Trust Advisors LP now owns 1,213,804 shares of the company’s stock valued at $152,490,000 after purchasing an additional 975,206 shares during the last quarter. Alliancebernstein L.P. boosted its position in shares of Oshkosh by 908.0% in the 3rd quarter. Alliancebernstein L.P. now owns 913,497 shares of the company’s stock worth $118,481,000 after purchasing an additional 822,874 shares in the last quarter. Finally, Capital Research Global Investors grew its stake in shares of Oshkosh by 143.9% in the 4th quarter. Capital Research Global Investors now owns 1,193,156 shares of the company’s stock worth $149,896,000 after buying an additional 704,022 shares during the last quarter. Hedge funds and other institutional investors own 92.36% of the company’s stock.

About Oshkosh

Oshkosh Corporation (NYSE: OSK) is a leading designer, manufacturer and marketer of specialty trucks, military vehicles and access equipment. The company’s offerings span critical end markets, including defense, fire and emergency services, commercial construction and industrial sectors. By combining engineering expertise with advanced technologies, Oshkosh delivers solutions that enhance mobility, safety and productivity for its customers.

Founded in 1917 and headquartered in Oshkosh, Wisconsin, the company has evolved from producing heavy-duty dump trucks to a diversified portfolio of products and services.