Oshkosh (NYSE:OSK) Reaches New 52-Week High on Analyst Upgrade

Oshkosh Corporation (NYSE:OSK)’s stock price reached a new 52-week high on Tuesday after Bank of America upgraded the stock from an underperform rating to a neutral rating. Bank of America now has a $149.00 price target on the stock. Oshkosh traded as high as $159.00 and last traded at $159.1920, with a volume of 864499 shares. The stock had previously closed at $149.48.

Several other analysts have also issued reports on the stock. Wall Street Zen lowered shares of Oshkosh from a “buy” rating to a “hold” rating in a research report on Saturday, January 31st. DA Davidson boosted their price objective on shares of Oshkosh from $160.00 to $168.00 and gave the stock a “buy” rating in a research note on Monday. Sanford C. Bernstein raised their target price on shares of Oshkosh from $132.00 to $140.00 and gave the company a “market perform” rating in a research note on Friday, December 19th. Barclays assumed coverage on Oshkosh in a research report on Tuesday, November 25th. They set an “overweight” rating and a $150.00 price target on the stock. Finally, Robert W. Baird set a $182.00 price objective on Oshkosh in a research note on Friday, January 30th. Twelve analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $159.60.

Hedge Funds Weigh In On Oshkosh

Large investors have recently made changes to their positions in the company. Harbor Capital Advisors Inc. acquired a new position in Oshkosh in the 3rd quarter valued at $26,000. Blue Trust Inc. boosted its position in shares of Oshkosh by 471.1% in the third quarter. Blue Trust Inc. now owns 217 shares of the company’s stock valued at $28,000 after acquiring an additional 179 shares during the period. SJS Investment Consulting Inc. grew its stake in shares of Oshkosh by 3,014.3% in the third quarter. SJS Investment Consulting Inc. now owns 218 shares of the company’s stock valued at $28,000 after acquiring an additional 211 shares in the last quarter. Abich Financial Wealth Management LLC bought a new position in Oshkosh during the third quarter worth about $29,000. Finally, Torren Management LLC acquired a new stake in Oshkosh in the 4th quarter worth about $30,000. Institutional investors own 92.36% of the company’s stock.

Oshkosh Stock Up 5.0%

The stock’s fifty day simple moving average is $138.87 and its 200-day simple moving average is $134.43. The stock has a market cap of $10.58 billion, a P/E ratio of 16.69, a P/E/G ratio of 2.34 and a beta of 1.43. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.05 and a current ratio of 1.94.

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

Oshkosh Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 3rd. Stockholders of record on Tuesday, February 17th will be given a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date is Tuesday, February 17th. This is a positive change from Oshkosh’s previous quarterly dividend of $0.51. Oshkosh’s dividend payout ratio is currently 20.36%.

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.