Oshkosh (OSK) Cut to Hold at Zacks Investment Research

Oshkosh (NYSE:OSK) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Friday, Zacks.com reports.

According to Zacks, “In the second quarter of fiscal 2019, Oshkosh’s earnings and revenues beat the respective Zacks Consensus Estimate. Further, the figures rose on a year-over-year basis, supported by diverse end market and robust backlog. Further, the company updated fiscal 2019 on the back of strong backlogs along with integrated operations and supply chain. For the current fiscal year, it projects earnings per share of $7.50-$7.80. Also, improved product pricing and increased volume sales bode well for the company’s access equipment segment.It also pays regular dividends and engages in share buyback programs to enhance shareholder value.However, increasing raw material costs and macro-economic challenges are headwinds. Also, dependence on the U.S. government for the Defense segment’s sales is a concern for Oshkosh.”

OSK has been the topic of several other reports. JPMorgan Chase & Co. upgraded shares of Oshkosh from a “neutral” rating to an “overweight” rating and set a $80.00 price target on the stock in a report on Thursday, January 10th. ValuEngine upgraded shares of Oshkosh from a “sell” rating to a “hold” rating in a report on Wednesday, February 13th. Citigroup upped their price target on shares of Oshkosh from $85.00 to $95.00 and gave the company a “buy” rating in a report on Wednesday, May 1st. reiterated a “sell” rating on shares of Oshkosh in a report on Wednesday, February 13th. Finally, reiterated a “sell” rating on shares of Oshkosh in a report on Wednesday, February 13th. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $85.07.

Oshkosh stock opened at $78.03 on Friday. Oshkosh has a twelve month low of $51.42 and a twelve month high of $84.86. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.03 and a current ratio of 1.86. The stock has a market capitalization of $5.54 billion, a PE ratio of 12.27, a price-to-earnings-growth ratio of 0.88 and a beta of 1.94.

Oshkosh (NYSE:OSK) last posted its earnings results on Tuesday, April 30th. The company reported $1.82 earnings per share for the quarter, topping analysts’ consensus estimates of $1.62 by $0.20. Oshkosh had a net margin of 6.76% and a return on equity of 21.98%. The firm had revenue of $1.99 billion for the quarter, compared to the consensus estimate of $1.98 billion. During the same period in the previous year, the firm posted $1.54 EPS. The business’s quarterly revenue was up 5.5% on a year-over-year basis. On average, equities analysts forecast that Oshkosh will post 7.76 earnings per share for the current fiscal year.

In other Oshkosh news, insider Wilson R. Jones sold 16,000 shares of the business’s stock in a transaction dated Tuesday, February 12th. The shares were sold at an average price of $79.04, for a total value of $1,264,640.00. Following the completion of the sale, the insider now directly owns 168,274 shares of the company’s stock, valued at approximately $13,300,376.96. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, VP David M. Sagehorn sold 29,200 shares of the business’s stock in a transaction dated Wednesday, February 13th. The shares were sold at an average price of $79.20, for a total transaction of $2,312,640.00. Following the completion of the sale, the vice president now directly owns 166,310 shares of the company’s stock, valued at $13,171,752. The disclosure for this sale can be found here. Over the last three months, insiders sold 80,928 shares of company stock valued at $6,398,679. 1.60% of the stock is owned by corporate insiders.

A number of institutional investors have recently added to or reduced their stakes in OSK. Retirement Systems of Alabama boosted its position in Oshkosh by 1.1% in the 4th quarter. Retirement Systems of Alabama now owns 181,818 shares of the company’s stock valued at $11,147,000 after buying an additional 2,033 shares during the period. Cerebellum GP LLC boosted its position in Oshkosh by 44.9% in the 4th quarter. Cerebellum GP LLC now owns 3,532 shares of the company’s stock valued at $217,000 after buying an additional 1,094 shares during the period. State of Alaska Department of Revenue boosted its position in Oshkosh by 2.0% in the 4th quarter. State of Alaska Department of Revenue now owns 7,726 shares of the company’s stock valued at $473,000 after buying an additional 149 shares during the period. Cozad Asset Management Inc. boosted its position in Oshkosh by 777.7% in the 4th quarter. Cozad Asset Management Inc. now owns 24,970 shares of the company’s stock valued at $1,531,000 after buying an additional 22,125 shares during the period. Finally, Boston Advisors LLC boosted its position in Oshkosh by 1.2% in the 4th quarter. Boston Advisors LLC now owns 59,994 shares of the company’s stock valued at $3,678,000 after buying an additional 716 shares during the period. 89.93% of the stock is owned by institutional investors.

Oshkosh Company Profile

Oshkosh Corporation designs, manufactures, and markets specialty vehicles and vehicle bodies worldwide. The company's Access Equipment segment provides aerial work platforms and telehandlers for use in various construction, industrial, institutional, and general maintenance applications. This segment also offers rental fleet loans and leases, and floor plan and retail financing through third-party funding arrangements; towing and recovery equipment; carriers and wreckers; equipment installation services; and chassis and service parts sales.

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