KeyCorp Reiterates “Buy” Rating for Oshkosh Corporation (OSK)
Oshkosh Corporation (NYSE:OSK)‘s stock had its “buy” rating reaffirmed by KeyCorp in a note issued to investors on Sunday. They presently have a $85.00 price target on the stock. KeyCorp’s target price would suggest a potential upside of 10.20% from the stock’s current price.
Several other analysts also recently weighed in on OSK. ValuEngine raised Oshkosh Corporation from a “hold” rating to a “buy” rating in a report on Friday, June 2nd. Jefferies Group LLC reissued a “buy” rating and issued a $85.00 target price on shares of Oshkosh Corporation in a report on Thursday, June 8th. BidaskClub raised Oshkosh Corporation from a “hold” rating to a “buy” rating in a report on Wednesday, June 14th. Bank of America Corporation downgraded Oshkosh Corporation from a “neutral” rating to an “underperform” rating and reduced their target price for the company from $75.00 to $60.00 in a report on Friday, July 7th. Finally, Zacks Investment Research downgraded Oshkosh Corporation from a “hold” rating to a “sell” rating in a report on Tuesday, July 11th. Seven analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. Oshkosh Corporation currently has a consensus rating of “Buy” and an average target price of $76.50.
Shares of Oshkosh Corporation (OSK) traded up 1.57% on Friday, hitting $77.13. The stock had a trading volume of 559,245 shares. Oshkosh Corporation has a 12-month low of $50.77 and a 12-month high of $77.22. The stock has a 50 day moving average price of $73.69 and a 200-day moving average price of $69.44. The company has a market cap of $5.77 billion, a price-to-earnings ratio of 22.89 and a beta of 1.77.
Oshkosh Corporation (NYSE:OSK) last posted its earnings results on Wednesday, August 2nd. The company reported $1.84 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.33 by $0.51. Oshkosh Corporation had a return on equity of 14.49% and a net margin of 3.83%. The business had revenue of $2.04 billion during the quarter, compared to the consensus estimate of $1.95 billion. During the same period in the previous year, the business earned $1.13 EPS. The business’s quarterly revenue was up 16.6% on a year-over-year basis. On average, equities analysts expect that Oshkosh Corporation will post $3.95 earnings per share for the current year.
In other Oshkosh Corporation news, insider Joseph H. Kimmitt sold 23,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 8th. The stock was sold at an average price of $75.83, for a total transaction of $1,744,090.00. Following the transaction, the insider now owns 70,262 shares in the company, valued at approximately $5,327,967.46. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Craig P. Omtvedt sold 7,050 shares of the business’s stock in a transaction that occurred on Friday, August 4th. The stock was sold at an average price of $74.82, for a total value of $527,481.00. Following the transaction, the director now owns 32,374 shares in the company, valued at approximately $2,422,222.68. The disclosure for this sale can be found here. Insiders have sold a total of 50,533 shares of company stock worth $3,810,466 in the last quarter. 2.00% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Ladenburg Thalmann Financial Services Inc. increased its position in Oshkosh Corporation by 48.2% during the 4th quarter. Ladenburg Thalmann Financial Services Inc. now owns 1,855 shares of the company’s stock worth $120,000 after purchasing an additional 603 shares during the period. Harvest Fund Management Co. Ltd acquired a new position in Oshkosh Corporation during the 4th quarter worth approximately $121,000. Invictus RG acquired a new position in Oshkosh Corporation during the 1st quarter worth approximately $133,000. Advisors Asset Management Inc. increased its position in Oshkosh Corporation by 9.5% during the 1st quarter. Advisors Asset Management Inc. now owns 1,971 shares of the company’s stock worth $135,000 after purchasing an additional 171 shares during the period. Finally, James Investment Research Inc. acquired a new position in Oshkosh Corporation during the 1st quarter worth approximately $144,000. Institutional investors own 94.62% of the company’s stock.
About Oshkosh Corporation
Oshkosh Corporation is a manufacturer and marketer of access equipment, specialty vehicles and truck bodies for the primary markets of defense, concrete placement, refuse hauling, access equipment, and fire and emergency. The company’s brands include Oshkosh, JLG, Pierce, McNeilus, IMT, Frontline, Jerr-Dan, CON-E-CO and London.
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