Oshkosh (NYSE:OSK) Reaches New 52-Week High Following Strong Earnings

Key Points

• Oshkosh Corporation's stock reached a new 52-week high of $132.75 after reporting quarterly earnings of $3.41 per share, exceeding analysts' expectations by $0.43.
• Despite a year-over-year revenue decline of 4%, the company generated quarterly revenue of $2.73 billion, surpassing analyst estimates of $2.67 billion.
• Institutional investors own 92.36% of Oshkosh's stock, with major recent investments including a 267.3% increase in holdings by AQR Capital Management.

Oshkosh Corporation (NYSE:OSK - Get Free Report)'s stock price hit a new 52-week high during trading on Friday after the company announced better than expected quarterly earnings. The company 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 for the quarter, topping analysts' consensus estimates of $2.98 by $0.43. Oshkosh had a return on equity of 17.22% and a net margin of 5.84%. The firm had revenue of $2.73 billion for the quarter, compared to analyst estimates of $2.67 billion. During the same quarter in the prior year, the company posted $3.34 earnings per share. Oshkosh's quarterly revenue was down 4.0% on a year-over-year basis.

Analyst Ratings Changes

Several research firms have weighed in on OSK. UBS Group upped their target price on Oshkosh from $119.00 to $149.00 and gave the company a "buy" rating in a report on Thursday, July 10th. KeyCorp lowered their target price on Oshkosh from $132.00 to $120.00 and set an "overweight" rating on the stock in a report on Tuesday, April 8th. Bank of America increased their price objective on Oshkosh from $90.00 to $103.00 and gave the company an "underperform" rating in a research note on Friday, June 6th. JPMorgan Chase & Co. increased their price objective on Oshkosh from $92.00 to $106.00 and gave the company a "neutral" rating in a research note on Friday, June 6th. Finally, Citigroup reiterated a "buy" rating and set a $130.00 target price (up from $125.00) on shares of Oshkosh in a research report on Tuesday, June 24th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $129.69.

Institutional Investors Weigh In On Oshkosh

Large investors have recently modified their holdings of the stock. AQR Capital Management LLC boosted its position in Oshkosh by 267.3% in the 1st quarter. AQR Capital Management LLC now owns 1,363,556 shares of the company's stock valued at $126,224,000 after buying an additional 992,313 shares during the last quarter. Norges Bank acquired a new stake in Oshkosh during the 4th quarter worth $72,692,000. Fuller & Thaler Asset Management Inc. acquired a new stake in Oshkosh during the 1st quarter worth $54,860,000. Pzena Investment Management LLC acquired a new stake in shares of Oshkosh in the 2nd quarter valued at about $59,709,000. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Oshkosh by 15.3% in the first quarter. Dimensional Fund Advisors LP now owns 2,672,423 shares of the company's stock valued at $251,417,000 after purchasing an additional 354,714 shares in the last quarter. 92.36% of the stock is currently owned by institutional investors.

Oshkosh Trading Up 2.7%

The company has a market capitalization of $8.36 billion, a P/E ratio of 13.81, a price-to-earnings-growth ratio of 2.02 and a beta of 1.43. The company has a quick ratio of 0.86, a current ratio of 1.77 and a debt-to-equity ratio of 0.26. The business has a fifty day moving average price of $115.39 and a 200 day moving average price of $102.90.

Oshkosh Company Profile

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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