Oshkosh (NYSE:OSK) Shares Gap Down Following Weak Earnings

Oshkosh Corporation (NYSE:OSK)’s share price gapped down before the market opened on Thursday following a dissappointing earnings announcement. The stock had previously closed at $137.93, but opened at $120.00. Oshkosh shares last traded at $129.7450, with a volume of 154,616 shares traded.

The company reported $2.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.06 by ($0.65). Oshkosh had a return on equity of 12.95% and a net margin of 5.24%. The company had revenue of $2.84 billion for the quarter, compared to analysts’ expectations of $2.94 billion. During the same period last year, the company posted $3.20 EPS. The business’s revenue for the quarter was up 5.6% on a year-over-year basis.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Zacks Research cut shares of Oshkosh from a “hold” rating to a “strong sell” rating in a report on Tuesday, October 13th. DA Davidson upped their price objective on shares of Oshkosh from $168.00 to $176.00 and gave the stock a “buy” rating in a research report on Wednesday, July 29th. Robert W. Baird raised their target price on shares of Oshkosh from $172.00 to $180.00 and gave the company an “outperform” rating in a research note on Wednesday, July 29th. Citigroup dropped their target price on shares of Oshkosh from $155.00 to $135.00 and set a “neutral” rating for the company in a research report on Monday, October 12th. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Oshkosh in a research note on Friday, October 9th. Eleven equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $165.79.

Insider Activity at Oshkosh

In other news, Director John Pfeifer sold 778 shares of the business’s stock in a transaction dated Friday, September 11th. The stock was sold at an average price of $150.00, for a total value of $116,700.00. Following the completion of the sale, the director owned 150,669 shares of the company’s stock, valued at approximately $22,600,350. The trade was a 0.51% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.64% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Annex Advisory Services LLC increased its holdings in Oshkosh by 2.8% during the 2nd quarter. Annex Advisory Services LLC now owns 2,967 shares of the company’s stock valued at $455,000 after purchasing an additional 80 shares during the period. World Investment Advisors increased its stake in shares of Oshkosh by 4.7% during the first quarter. World Investment Advisors now owns 1,809 shares of the company’s stock valued at $266,000 after buying an additional 82 shares during the period. Waverly Advisors LLC increased its stake in shares of Oshkosh by 0.5% during the first quarter. Waverly Advisors LLC now owns 18,595 shares of the company’s stock valued at $2,737,000 after buying an additional 90 shares during the period. Personal CFO Solutions LLC increased its stake in shares of Oshkosh by 4.8% during the first quarter. Personal CFO Solutions LLC now owns 1,992 shares of the company’s stock valued at $293,000 after buying an additional 92 shares during the period. Finally, Whittier Trust Co. raised its holdings in shares of Oshkosh by 33.7% during the first quarter. Whittier Trust Co. now owns 373 shares of the company’s stock valued at $55,000 after acquiring an additional 94 shares in the last quarter. Institutional investors own 92.36% of the company’s stock.

Oshkosh Price Performance

The business has a 50 day moving average of $140.39 and a 200 day moving average of $146.53. The company has a market cap of $8.03 billion, a PE ratio of 14.87, a price-to-earnings-growth ratio of 1.00 and a beta of 1.26. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.72 and a quick ratio of 0.96.

About Oshkosh

Oshkosh Corporation (NYSE: OSK) is a manufacturer of specialty vehicles, vehicle bodies and related equipment for commercial, government and industrial customers. The company serves markets that require purpose-built vehicles designed for demanding operating conditions, including defense, emergency response, construction, aviation support and municipal services.

Oshkosh’s product portfolio includes military vehicles and systems, fire apparatus, airport rescue and firefighting vehicles, refuse collection vehicles, concrete mixers, snow and ice removal equipment, and other vocational trucks.