Oshkosh (NYSE:OSK) Stock Price Target Lowered at Morgan Stanley

Key Points

• Morgan Stanley lowered Oshkosh’s price target from $147 to $139 while maintaining an “equal weight” rating, implying about 3.9% downside from the stock’s $144.68 price.
• Analyst sentiment remains generally positive, with 11 Buy, five Hold and one Sell rating; MarketBeat reports a consensus “Moderate Buy” rating and an average price target of $164.50.
• Oshkosh’s latest quarterly results missed expectations, reporting $2.41 in adjusted EPS versus a $3.06 estimate and revenue of $2.84 billion versus $2.94 billion expected, despite 5.6% year-over-year revenue growth.

Oshkosh (NYSE:OSK - Get Free Report) had its price target reduced by research analysts at Morgan Stanley from $147.00 to $139.00 in a report issued on Tuesday, Benzinga reports. The brokerage presently has an "equal weight" rating on the stock. Morgan Stanley's price target points to a potential downside of 3.93% from the stock's current price.

A number of other research analysts have also weighed in on OSK. JPMorgan Chase & Co. raised their price objective on Oshkosh from $132.00 to $145.00 and gave the company a "neutral" rating in a research report on Friday. Zacks Research downgraded Oshkosh from a "hold" rating to a "strong sell" rating in a report on Tuesday, October 13th. Barclays increased their target price on Oshkosh from $150.00 to $170.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 29th. DA Davidson reduced their price target on Oshkosh from $168.00 to $164.00 and set a "buy" rating for the company in a report on Monday. Finally, Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Oshkosh in a research report on Friday, October 9th. Eleven research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $164.50.

Oshkosh Stock Down 0.6%

NYSE OSK traded down $0.85 during trading hours on Tuesday, reaching $144.68. 125,642 shares of the company's stock traded hands, compared to its average volume of 745,410. Oshkosh has a 52-week low of $116.77 and a 52-week high of $180.49. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.72 and a quick ratio of 0.96. The firm has a 50-day simple moving average of $139.58 and a 200 day simple moving average of $146.37. The firm has a market cap of $8.93 billion, a PE ratio of 18.23, a PEG ratio of 1.05 and a beta of 1.26.

Oshkosh (NYSE:OSK - Get Free Report) last announced its quarterly earnings data on Thursday, October 29th. The company reported $2.41 earnings per share for the quarter, missing analysts' consensus estimates of $3.06 by ($0.65). Oshkosh had a return on equity of 12.95% and a net margin of 5.24%. The business had revenue of $2.84 billion during the quarter, compared to analysts' expectations of $2.94 billion. During the same quarter last year, the company posted $3.20 EPS. Oshkosh's revenue for the quarter was up 5.6% compared to the same quarter last year. Sell-side analysts anticipate that Oshkosh will post 8.94 EPS for the current fiscal year.

Insider Activity at Oshkosh

In other news, Director John Pfeifer sold 778 shares of the stock in a transaction that occurred on Friday, September 11th. The shares were sold at an average price of $150.00, for a total value of $116,700.00. Following the transaction, the director owned 150,669 shares in the company, valued at $22,600,350. This represents a 0.51% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.64% of the stock is owned by insiders.

Institutional Investors Weigh In On Oshkosh

Hedge funds have recently modified their holdings of the business. Balance Wealth Partners LLC bought a new position in Oshkosh in the 3rd quarter worth $26,000. Fiduciary Financial Advisors bought a new stake in Oshkosh during the second quarter valued at about $38,000. GK Wealth Management LLC bought a new stake in Oshkosh during the third quarter valued at about $47,000. Whittier Trust Co. increased its position in Oshkosh by 33.7% in the first quarter. Whittier Trust Co. now owns 373 shares of the company's stock worth $55,000 after buying an additional 94 shares in the last quarter. Finally, Versant Capital Management Inc increased its position in Oshkosh by 38.2% in the second quarter. Versant Capital Management Inc now owns 449 shares of the company's stock worth $69,000 after buying an additional 124 shares in the last quarter. Institutional investors own 92.36% of the company's stock.

About Oshkosh

Oshkosh Corporation NYSE: OSK is a manufacturer of specialty vehicles, vehicle bodies and related equipment for commercial, government and industrial customers. The company serves markets that require purpose-built vehicles designed for demanding operating conditions, including defense, emergency response, construction, aviation support and municipal services.

Oshkosh's product portfolio includes military vehicles and systems, fire apparatus, airport rescue and firefighting vehicles, refuse collection vehicles, concrete mixers, snow and ice removal equipment, and other vocational trucks.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.