Oshkosh (NYSE:OSK) Reaches New 12-Month High - What's Next?

Key Points

• Oshkosh Corporation (NYSE:OSK) shares hit a new 52-week high, trading as high as $140.48 before closing at $140.22.
• Multiple research analysts have upgraded Oshkosh's stock ratings, with price targets ranging from $131.00 to $188.00 and a consensus average rating of "Moderate Buy".
• The company reported an earnings per share (EPS) of $3.41 for the last quarter, exceeding analysts' expectations by $0.43 and generating revenue of $2.73 billion.

Oshkosh Corporation (NYSE:OSK - Get Free Report) shares reached a new 52-week high during trading on Wednesday . The stock traded as high as $140.48 and last traded at $140.22, with a volume of 35552 shares traded. The stock had previously closed at $138.76.

Wall Street Analysts Forecast Growth

Several research analysts have commented on OSK shares. UBS Group set a $164.00 price target on Oshkosh and gave the stock a "buy" rating in a research report on Tuesday, August 5th. The Goldman Sachs Group raised Oshkosh from a "neutral" rating to a "buy" rating and lifted their price target for the stock from $124.00 to $131.00 in a research report on Tuesday, July 1st. DA Davidson lifted their price target on Oshkosh from $148.00 to $160.00 and gave the stock a "buy" rating in a research report on Tuesday, August 5th. Evercore ISI boosted their target price on Oshkosh from $137.00 to $147.00 and gave the company an "outperform" rating in a report on Monday, May 19th. Finally, Robert W. Baird boosted their target price on Oshkosh from $169.00 to $188.00 and gave the company an "outperform" rating in a report on Monday, August 4th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $133.08.

Oshkosh Stock Performance

The stock has a 50-day simple moving average of $121.18 and a 200 day simple moving average of $105.19. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.84 and a quick ratio of 0.92. The company has a market capitalization of $9.02 billion, a PE ratio of 14.14, a P/E/G ratio of 1.67 and a beta of 1.43.

Oshkosh (NYSE:OSK - Get Free Report) last posted its earnings results on Friday, August 1st. The company reported $3.41 EPS for the quarter, topping analysts' consensus estimates of $2.98 by $0.43. The company had revenue of $2.73 billion for the quarter, compared to the consensus estimate of $2.67 billion. Oshkosh had a return on equity of 16.70% and a net margin of 6.25%. Oshkosh's quarterly revenue was down 4.0% compared to the same quarter last year. During the same period in the previous year, the business earned $3.34 earnings per share. Equities analysts anticipate that Oshkosh Corporation will post 10.96 EPS for the current fiscal year.

Oshkosh Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Tuesday, August 19th will be given a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date of this dividend is Tuesday, August 19th. Oshkosh's payout ratio is currently 20.48%.

Hedge Funds Weigh In On Oshkosh

A number of institutional investors have recently modified their holdings of the company. Wells Fargo & Company MN lifted its position in Oshkosh by 13.1% during the fourth quarter. Wells Fargo & Company MN now owns 68,868 shares of the company's stock worth $6,547,000 after buying an additional 7,960 shares during the period. Advisory Services Network LLC grew its stake in shares of Oshkosh by 43.3% in the fourth quarter. Advisory Services Network LLC now owns 5,289 shares of the company's stock valued at $503,000 after buying an additional 1,599 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in Oshkosh during the 4th quarter valued at approximately $8,467,000. Bessemer Group Inc. grew its stake in Oshkosh by 105.8% during the 4th quarter. Bessemer Group Inc. now owns 745 shares of the company's stock valued at $71,000 after purchasing an additional 383 shares in the last quarter. Finally, Treasurer of the State of North Carolina grew its stake in Oshkosh by 0.6% during the 4th quarter. Treasurer of the State of North Carolina now owns 28,677 shares of the company's stock valued at $2,726,000 after purchasing an additional 180 shares in the last quarter. Institutional investors and hedge funds own 92.36% of the company's stock.

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.

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