Oshkosh Corporation (OSK) Rating Increased to Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of Oshkosh Corporation (NYSE:OSK) from a hold rating to a buy rating in a research note released on Tuesday, August 8th. They currently have $84.00 target price on the stock.

According to Zacks, “Oshkosh Corporation is a leading designer, manufacturer and marketer of a broad range of specialty access equipment, commercial, fire & emergency and military vehicles and vehicle bodies. Oshkosh Corporation manufactures, distributes and services products under the brands of Oshkosh, JLG, Pierce, McNeilus, Medtec, Jerr-Dan, BAI, Oshkosh Specialty Vehicles, Frontline, SMIT, Geesink, Norba, Kiggen, Con-E-Co, London and IMT. Oshkosh products are valued worldwide in businesses where high quality, superior performance, rugged reliability and long-term value are paramount. “

A number of other equities analysts have also commented on OSK. Royal Bank Of Canada lifted their price objective on Oshkosh Corporation from $79.00 to $80.00 and gave the stock an outperform rating in a research note on Thursday, April 27th. Barrington Research lifted their target price on Oshkosh Corporation from $75.00 to $86.00 and gave the stock an outperform rating in a report on Thursday, April 27th. ValuEngine upgraded Oshkosh Corporation from a hold rating to a buy rating in a report on Friday, June 2nd. Jefferies Group LLC reiterated a buy rating and issued a $85.00 target price on shares of Oshkosh Corporation in a report on Thursday, June 8th. Finally, BidaskClub upgraded Oshkosh Corporation from a hold rating to a buy rating in a report on Wednesday, June 14th. Seven analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of Buy and an average price target of $75.67.

Shares of Oshkosh Corporation (OSK) traded down 0.68% during midday trading on Tuesday, reaching $73.38. 485,281 shares of the company’s stock traded hands. The stock has a 50 day moving average of $70.95 and a 200-day moving average of $68.64. The stock has a market cap of $5.49 billion, a price-to-earnings ratio of 21.77 and a beta of 1.81. Oshkosh Corporation has a 52-week low of $50.77 and a 52-week high of $77.20.

Oshkosh Corporation (NYSE:OSK) last posted its quarterly earnings data on Wednesday, August 2nd. The company reported $1.84 EPS for the quarter, topping the Zacks’ consensus estimate of $1.33 by $0.51. The company had revenue of $2.04 billion for the quarter, compared to analyst estimates of $1.95 billion. Oshkosh Corporation had a return on equity of 14.49% and a net margin of 3.83%. The firm’s quarterly revenue was up 16.6% on a year-over-year basis. During the same period in the previous year, the firm earned $1.13 earnings per share. On average, equities research analysts expect that Oshkosh Corporation will post $3.95 EPS for the current year.

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The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Friday, August 18th will be given a $0.21 dividend. The ex-dividend date of this dividend is Wednesday, August 16th. This represents a $0.84 annualized dividend and a yield of 1.14%. Oshkosh Corporation’s dividend payout ratio is currently 25.07%.

In other Oshkosh Corporation news, Director Craig P. Omtvedt sold 7,050 shares of the business’s stock in a transaction on Friday, August 4th. The stock was sold at an average price of $74.82, for a total value of $527,481.00. Following the transaction, the director now owns 32,374 shares of the company’s stock, valued at $2,422,222.68. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Robert S. Messina sold 3,400 shares of the business’s stock in a transaction on Monday, August 7th. The stock was sold at an average price of $75.23, for a total value of $255,782.00. Following the completion of the transaction, the vice president now directly owns 12,558 shares in the company, valued at approximately $944,738.34. The disclosure for this sale can be found here. In the last three months, insiders sold 50,533 shares of company stock worth $3,810,466. Insiders own 2.00% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of OSK. Raymond James Trust N.A. boosted its position in Oshkosh Corporation by 0.9% in the second quarter. Raymond James Trust N.A. now owns 3,054 shares of the company’s stock valued at $210,000 after buying an additional 28 shares in the last quarter. Hanseatic Management Services Inc. boosted its position in shares of Oshkosh Corporation by 0.3% in the second quarter. Hanseatic Management Services Inc. now owns 15,738 shares of the company’s stock worth $1,084,000 after buying an additional 41 shares in the last quarter. M&T Bank Corp boosted its position in shares of Oshkosh Corporation by 1.2% in the second quarter. M&T Bank Corp now owns 5,135 shares of the company’s stock worth $353,000 after buying an additional 61 shares in the last quarter. Advisors Asset Management Inc. boosted its position in shares of Oshkosh Corporation by 3.5% in the second quarter. Advisors Asset Management Inc. now owns 2,039 shares of the company’s stock worth $140,000 after buying an additional 68 shares in the last quarter. Finally, 1st Global Advisors Inc. boosted its position in shares of Oshkosh Corporation by 2.2% in the first quarter. 1st Global Advisors Inc. now owns 4,303 shares of the company’s stock worth $295,000 after buying an additional 91 shares in the last quarter. 95.68% of the stock is currently owned by institutional investors and hedge funds.

About Oshkosh Corporation

Oshkosh Corporation is a manufacturer and marketer of access equipment, specialty vehicles and truck bodies for the primary markets of defense, concrete placement, refuse hauling, access equipment, and fire and emergency. The company’s brands include Oshkosh, JLG, Pierce, McNeilus, IMT, Frontline, Jerr-Dan, CON-E-CO and London.

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