Oshkosh (NYSE:OSK) Sets New 52-Week High After Strong Earnings

Shares of Oshkosh Corporation (NYSE:OSK) hit a new 52-week high on Friday following a stronger than expected earnings report. The stock traded as high as $132.75 and last traded at $131.07, with a volume of 734 shares. The stock had previously closed at $126.53.

The company reported $3.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.98 by $0.43. The company had revenue of $2.73 billion for the quarter, compared to analyst estimates of $2.67 billion. Oshkosh had a return on equity of 17.22% and a net margin of 5.84%. Oshkosh’s revenue for the quarter was down 4.0% compared to the same quarter last year. During the same quarter last year, the company earned $3.34 EPS.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on OSK shares. Citigroup restated a “buy” rating and issued a $130.00 price objective (up from $125.00) on shares of Oshkosh in a report on Tuesday, June 24th. Jefferies Financial Group restated a “hold” rating on shares of Oshkosh in a research note on Friday, June 6th. Truist Financial upgraded Oshkosh from a “hold” rating to a “buy” rating and raised their price target for the company from $93.00 to $127.00 in a research note on Tuesday, June 3rd. UBS Group raised their target price on Oshkosh from $119.00 to $149.00 and gave the stock a “buy” rating in a research report on Thursday, July 10th. Finally, Morgan Stanley cut their target price on Oshkosh from $110.00 to $91.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 16th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, Oshkosh has a consensus rating of “Moderate Buy” and an average target price of $129.25.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. O Shaughnessy Asset Management LLC increased its holdings in shares of Oshkosh by 16.9% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 2,562 shares of the company’s stock valued at $244,000 after purchasing an additional 371 shares during the period. Geode Capital Management LLC increased its stake in Oshkosh by 3.7% in the 4th quarter. Geode Capital Management LLC now owns 1,130,190 shares of the company’s stock valued at $107,479,000 after buying an additional 40,260 shares during the period. Groupama Asset Managment increased its stake in Oshkosh by 53.9% in the 4th quarter. Groupama Asset Managment now owns 6,007 shares of the company’s stock valued at $565,000 after buying an additional 2,103 shares during the period. ExodusPoint Capital Management LP increased its stake in Oshkosh by 0.9% in the 4th quarter. ExodusPoint Capital Management LP now owns 49,450 shares of the company’s stock valued at $4,701,000 after buying an additional 417 shares during the period. Finally, Wells Fargo & Company MN increased its stake in Oshkosh by 13.1% in the 4th quarter. Wells Fargo & Company MN now owns 68,868 shares of the company’s stock valued at $6,547,000 after buying an additional 7,960 shares during the period. 92.36% of the stock is currently owned by institutional investors and hedge funds.

Oshkosh Trading Up 3.2%

The company has a debt-to-equity ratio of 0.26, a current ratio of 1.77 and a quick ratio of 0.86. The business’s 50 day moving average price is $116.04 and its 200-day moving average price is $103.16. The firm has a market capitalization of $8.40 billion, a price-to-earnings ratio of 13.95, a price-to-earnings-growth ratio of 2.04 and a beta of 1.43.

About Oshkosh

Oshkosh Corporation provides purpose-built vehicles and equipment worldwide. The company operates through three segments: Access, Defense, and Vocational segment. Its Access Equipment segment design and manufacture aerial work platform and telehandlers for use in construction, industrial, and maintenance applications; offers financing and leasing solutions including rental fleet loans, leases, and floor plan and retail financing; and towing and recovery equipment, which includes carriers, wreckers, and rotators, as well as provides equipment installation and sale of chassis and service parts.