Oshkosh Corporation (OSK) Downgraded by Zacks Investment Research
Zacks Investment Research downgraded shares of Oshkosh Corporation (NYSE:OSK) from a buy rating to a hold rating in a research note published on Wednesday morning.
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. “
OSK has been the topic of several other reports. Royal Bank Of Canada reiterated an outperform rating and set a $85.00 target price (up from $80.00) on shares of Oshkosh Corporation in a research note on Wednesday. BidaskClub upgraded Oshkosh Corporation from a buy rating to a strong-buy rating in a research note on Tuesday. Jefferies Group LLC reiterated a buy rating and set a $85.00 target price on shares of Oshkosh Corporation in a research note on Thursday, June 8th. Deutsche Bank AG increased their target price on Oshkosh Corporation from $79.00 to $80.00 and gave the company a hold rating in a research note on Thursday, August 3rd. Finally, ValuEngine upgraded Oshkosh Corporation from a hold rating to a buy rating in a research note on Friday, June 2nd. Seven investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. Oshkosh Corporation presently has an average rating of Buy and an average target price of $75.67.
Oshkosh Corporation (NYSE:OSK) traded down 0.11% on Wednesday, reaching $73.97. The company’s stock had a trading volume of 368,315 shares. Oshkosh Corporation has a 12-month low of $50.77 and a 12-month high of $77.20. The stock has a market cap of $5.54 billion, a PE ratio of 21.95 and a beta of 1.81. The company’s 50 day moving average price is $69.99 and its 200-day moving average price is $68.55.
Oshkosh Corporation (NYSE:OSK) last issued its earnings results on Wednesday, August 2nd. The company reported $1.84 EPS for the quarter, beating the consensus estimate of $1.33 by $0.51. Oshkosh Corporation had a return on equity of 14.49% and a net margin of 3.83%. The business had revenue of $2.04 billion for the quarter, compared to the consensus estimate of $1.95 billion. During the same period last year, the business posted $1.13 EPS. The company’s revenue was up 16.6% compared to the same quarter last year. On average, equities analysts expect that Oshkosh Corporation will post $3.95 EPS for the current year.
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The company also recently declared a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Friday, August 18th will be paid a $0.21 dividend. The ex-dividend date of this dividend is Wednesday, August 16th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.14%. Oshkosh Corporation’s dividend payout ratio (DPR) is currently 25.07%.
In related news, insider Joseph H. Kimmitt sold 23,000 shares of the firm’s stock in a transaction on Tuesday, August 8th. The stock was sold at an average price of $75.83, for a total value of $1,744,090.00. Following the transaction, the insider now directly owns 70,262 shares of the company’s stock, valued at approximately $5,327,967.46. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP R Scott Grennier sold 4,883 shares of the firm’s stock in a transaction on Thursday, August 10th. The stock was sold at an average price of $74.40, for a total value of $363,295.20. Following the completion of the transaction, the vice president now directly owns 4,912 shares in the company, valued at $365,452.80. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 50,533 shares of company stock worth $3,810,466. 2.00% of the stock is owned by insiders.
Institutional investors have recently made changes to their positions in the company. Invictus RG bought a new position in shares of Oshkosh Corporation during the first quarter worth approximately $133,000. Advisors Asset Management Inc. boosted its position in shares of Oshkosh Corporation by 9.5% in the first quarter. Advisors Asset Management Inc. now owns 1,971 shares of the company’s stock worth $135,000 after buying an additional 171 shares in the last quarter. James Investment Research Inc. bought a new position in shares of Oshkosh Corporation during the first quarter worth approximately $144,000. Paradigm Asset Management Co. LLC boosted its position in shares of Oshkosh Corporation by 4.7% in the second quarter. Paradigm Asset Management Co. LLC now owns 2,250 shares of the company’s stock worth $155,000 after buying an additional 100 shares in the last quarter. Finally, ARP Americas LLC bought a new position in shares of Oshkosh Corporation during the second quarter worth approximately $206,000. 95.09% of the stock is currently owned by institutional investors.
Oshkosh Corporation 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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