Oshkosh Corp. (OSK) Stock Rating Upgraded by JPMorgan Chase & Co.
Oshkosh Corp. (NYSE:OSK) was upgraded by stock analysts at JPMorgan Chase & Co. from a “neutral” rating to an “overweight” rating in a report released on Monday. The brokerage presently has a $60.00 target price on the stock. JPMorgan Chase & Co.’s target price would suggest a potential upside of 12.32% from the company’s previous close.
Several other research analysts also recently issued reports on OSK. Jefferies Group restated a “buy” rating and set a $53.00 price objective on shares of Oshkosh Corp. in a research report on Tuesday, June 7th. Zacks Investment Research downgraded Oshkosh Corp. from a “buy” rating to a “hold” rating in a research report on Thursday, July 14th. RBC Capital Markets upgraded Oshkosh Corp. from a “sector perform” rating to an “outperform” rating and boosted their price target for the company from $46.00 to $63.00 in a report on Friday, July 29th. Royal Bank Of Canada upgraded Oshkosh Corp. from a “sector perform” rating to an “outperform” rating and boosted their price target for the company from $46.00 to $63.00 in a report on Friday, July 29th. Finally, Stifel Nicolaus boosted their price target on Oshkosh Corp. from $53.00 to $63.00 and gave the company a “buy” rating in a report on Friday, July 29th. Six equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $54.94.
Oshkosh Corp. (NYSE:OSK) opened at 53.42 on Monday. The stock has a market capitalization of $3.93 billion, a price-to-earnings ratio of 19.59 and a beta of 1.98. Oshkosh Corp. has a 52-week low of $29.59 and a 52-week high of $57.75. The stock’s 50 day moving average price is $54.49 and its 200 day moving average price is $47.54.
Oshkosh Corp. (NYSE:OSK) last issued its quarterly earnings data on Thursday, July 28th. The company reported $1.13 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.00 by $0.13. Oshkosh Corp. had a return on equity of 11.02% and a net margin of 3.36%. The firm earned $1.75 billion during the quarter, compared to the consensus estimate of $1.61 billion. During the same period in the previous year, the firm posted $1.13 EPS. The company’s quarterly revenue was up 8.4% compared to the same quarter last year. On average, analysts forecast that Oshkosh Corp. will post $2.90 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Monday, August 29th. Investors of record on Monday, August 15th were given a dividend of $0.19 per share. The ex-dividend date of this dividend was Thursday, August 11th. This represents a $0.76 dividend on an annualized basis and a yield of 1.42%. Oshkosh Corp.’s dividend payout ratio (DPR) is 27.94%.
In related news, VP R Scott Grennier sold 6,430 shares of the company’s stock in a transaction on Tuesday, August 2nd. The shares were sold at an average price of $54.12, for a total transaction of $347,991.60. Following the completion of the sale, the vice president now directly owns 14,366 shares of the company’s stock, valued at approximately $777,487.92. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP David M. Sagehorn sold 49,495 shares of the company’s stock in a transaction on Monday, August 1st. The stock was sold at an average price of $54.13, for a total transaction of $2,679,164.35. Following the sale, the vice president now directly owns 111,113 shares of the company’s stock, valued at $6,014,546.69. The disclosure for this sale can be found here. Corporate insiders own 3.10% of the company’s stock.
Hedge funds have recently made changes to their positions in the company. Envestnet Asset Management Inc. boosted its stake in shares of Oshkosh Corp. by 27.5% in the first quarter. Envestnet Asset Management Inc. now owns 26,597 shares of the company’s stock worth $1,087,000 after buying an additional 5,735 shares during the period. Prudential PLC boosted its position in Oshkosh Corp. by 36.4% in the first quarter. Prudential PLC now owns 123,744 shares of the company’s stock worth $5,057,000 after buying an additional 33,040 shares during the last quarter. Geode Capital Management LLC boosted its position in Oshkosh Corp. by 1.8% in the first quarter. Geode Capital Management LLC now owns 464,339 shares of the company’s stock worth $18,977,000 after buying an additional 7,994 shares during the last quarter. OMERS ADMINISTRATION Corp purchased a new position in Oshkosh Corp. during the first quarter worth $470,000. Finally, Canada Pension Plan Investment Board boosted its position in Oshkosh Corp. by 34.7% in the first quarter. Canada Pension Plan Investment Board now owns 126,286 shares of the company’s stock worth $5,161,000 after buying an additional 32,500 shares during the last quarter. 95.60% of the stock is owned by hedge funds and other institutional investors.
About Oshkosh Corp.
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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