Oshkosh Corp. (OSK) Downgraded by Zacks Investment Research to “Strong Sell”
Oshkosh Corp. (NYSE:OSK) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a research report issued on Wednesday.
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. “
Other analysts have also recently issued research reports about the company. Bank of America Corp. set a $62.00 target price on Oshkosh Corp. and gave the company a “buy” rating in a research report on Saturday, September 17th. Stifel Nicolaus dropped their target price on Oshkosh Corp. from $63.00 to $61.00 and set a “buy” rating on the stock in a research report on Monday, September 26th. Barrington Research increased their target price on Oshkosh Corp. from $54.00 to $62.00 and gave the company an “outperform” rating in a research report on Friday, July 29th. RBC Capital Markets raised Oshkosh Corp. from a “sector perform” rating to an “outperform” rating and increased their target price for the company from $46.00 to $63.00 in a research report on Friday, July 29th. Finally, Royal Bank Of Canada raised Oshkosh Corp. from a “sector perform” rating to an “outperform” rating and increased their target price for the company from $46.00 to $63.00 in a research report on Friday, July 29th. One research analyst has rated the stock with a sell rating, five have given a hold rating and twelve have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $54.94.
Shares of Oshkosh Corp. (NYSE:OSK) opened at 53.30 on Wednesday. The stock has a market cap of $3.92 billion, a PE ratio of 19.55 and a beta of 1.89. Oshkosh Corp. has a 52-week low of $29.59 and a 52-week high of $57.75. The company’s 50-day moving average price is $54.76 and its 200-day moving average price is $49.08.
Oshkosh Corp. (NYSE:OSK) last announced its earnings results on Thursday, July 28th. The company reported $1.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.00 by $0.13. The business had revenue of $1.75 billion for the quarter, compared to analysts’ expectations of $1.61 billion. Oshkosh Corp. had a return on equity of 11.02% and a net margin of 3.36%. The business’s revenue for the quarter was up 8.4% on a year-over-year basis. During the same quarter last year, the firm earned $1.13 EPS. On average, equities research analysts forecast that Oshkosh Corp. will post $2.91 earnings per share for the current fiscal year.
In related news, VP R Scott Grennier sold 6,430 shares of the stock in a transaction dated 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 owns 14,366 shares in the company, valued at approximately $777,487.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Robert S. Messina sold 2,500 shares of the stock in a transaction dated Friday, August 19th. The stock was sold at an average price of $54.18, for a total transaction of $135,450.00. Following the sale, the vice president now owns 9,063 shares of the company’s stock, valued at approximately $491,033.34. The disclosure for this sale can be found here. Corporate insiders own 3.10% of the company’s stock.
Several large investors have recently made changes to their positions in OSK. BlackRock Japan Co. Ltd purchased a new stake in shares of Oshkosh Corp. during the second quarter worth about $127,000. US Bancorp DE raised its stake in shares of Oshkosh Corp. by 1.1% in the second quarter. US Bancorp DE now owns 3,154 shares of the company’s stock worth $150,000 after buying an additional 34 shares in the last quarter. Pacer Advisors Inc. bought a new stake in shares of Oshkosh Corp. during the second quarter worth approximately $201,000. 1st Global Advisors Inc. bought a new stake in shares of Oshkosh Corp. during the second quarter worth approximately $205,000. Finally, Oarsman Capital Inc. bought a new stake in shares of Oshkosh Corp. during the second quarter worth approximately $208,000. Institutional investors and hedge funds own 95.66% of the company’s stock.
Oshkosh Corp. Company Profile
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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