Wells Fargo & Company Issues Positive Forecast for Oshkosh (NYSE:OSK) Stock Price

Oshkosh (NYSE:OSK) had its target price boosted by Wells Fargo & Company from $168.00 to $204.00 in a research report report published on Wednesday morning,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the stock.

A number of other research firms also recently commented on OSK. Bank of America upgraded Oshkosh from an “underperform” rating to a “neutral” rating and set a $149.00 target price on the stock in a research report on Tuesday, February 3rd. Argus cut their target price on shares of Oshkosh from $175.00 to $160.00 and set a “buy” rating on the stock in a research note on Wednesday, December 10th. KeyCorp reiterated an “overweight” rating on shares of Oshkosh in a research note on Thursday, December 18th. Citigroup decreased their target price on Oshkosh from $175.00 to $170.00 and set a “buy” rating for the company in a research report on Monday, February 2nd. Finally, Truist Financial set a $183.00 price target on Oshkosh in a research note on Friday, January 30th. Twelve investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $162.00.

Oshkosh Price Performance

Shares of Oshkosh stock opened at $172.57 on Wednesday. The stock has a market capitalization of $10.79 billion, a P/E ratio of 17.22, a PEG ratio of 0.90 and a beta of 1.43. The business has a 50 day simple moving average of $151.81 and a two-hundred day simple moving average of $138.80. Oshkosh has a 12 month low of $76.82 and a 12 month high of $180.49. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.94 and a quick ratio of 1.05.

Oshkosh (NYSE:OSK) last issued its earnings results on Thursday, January 29th. The company reported $2.26 earnings per share for the quarter, missing the consensus estimate of $2.33 by ($0.07). The company had revenue of $2.69 billion for the quarter, compared to analyst estimates of $2.60 billion. Oshkosh had a return on equity of 15.69% and a net margin of 6.21%.The company’s revenue for the quarter was up 3.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.58 earnings per share. As a group, analysts predict that Oshkosh will post 10.96 EPS for the current fiscal year.

Oshkosh Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 3rd. Shareholders of record on Tuesday, February 17th will be issued a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a yield of 1.3%. This is a boost from Oshkosh’s previous quarterly dividend of $0.51. The ex-dividend date of this dividend is Tuesday, February 17th. Oshkosh’s dividend payout ratio is 22.75%.

Hedge Funds Weigh In On Oshkosh

Hedge funds have recently bought and sold shares of the company. Keybank National Association OH acquired a new stake in shares of Oshkosh during the 3rd quarter worth about $422,000. Mutual Advisors LLC purchased a new position in shares of Oshkosh in the 3rd quarter worth $849,000. Convergence Investment Partners LLC purchased a new position in shares of Oshkosh in the 3rd quarter worth $1,162,000. Peterson Wealth Services boosted its holdings in Oshkosh by 3,459.5% in the third quarter. Peterson Wealth Services now owns 56,952 shares of the company’s stock valued at $7,387,000 after acquiring an additional 55,352 shares during the last quarter. Finally, Asset Management One Co. Ltd. purchased a new stake in Oshkosh during the third quarter valued at about $1,399,000. 92.36% of the stock is owned by hedge funds and other institutional investors.

About Oshkosh

Oshkosh Corporation (NYSE: OSK) is a leading designer, manufacturer and marketer of specialty trucks, military vehicles and access equipment. The company’s offerings span critical end markets, including defense, fire and emergency services, commercial construction and industrial sectors. By combining engineering expertise with advanced technologies, Oshkosh delivers solutions that enhance mobility, safety and productivity for its customers.

Founded in 1917 and headquartered in Oshkosh, Wisconsin, the company has evolved from producing heavy-duty dump trucks to a diversified portfolio of products and services.