Bank of America Trims Oshkosh (OSK) Target Price to $77.00

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Oshkosh (NYSE:OSK) had its price objective cut by analysts at Bank of America from $84.00 to $77.00 in a note issued to investors on Friday. The firm presently has a “neutral” rating on the stock. Bank of America’s price objective points to a potential upside of 9.00% from the company’s current price.

A number of other research analysts also recently commented on OSK. SunTrust Banks increased their price objective on Oshkosh to $110.00 and gave the company a “buy” rating in a report on Friday, April 20th. Zacks Investment Research upgraded Oshkosh from a “hold” rating to a “strong-buy” rating and set a $82.00 price objective on the stock in a report on Thursday, May 3rd. ValuEngine downgraded Oshkosh from a “hold” rating to a “sell” rating in a report on Wednesday, June 20th. Longbow Research started coverage on Oshkosh in a report on Friday, July 13th. They issued a “buy” rating and a $88.00 price objective on the stock. Finally, KeyCorp dropped their price objective on Oshkosh from $104.00 to $88.00 and set an “overweight” rating on the stock in a report on Wednesday, August 1st. One research analyst has rated the stock with a sell rating, five have given a hold rating and ten have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $91.07.

OSK opened at $70.64 on Friday. Oshkosh has a one year low of $66.77 and a one year high of $100.26. The stock has a market capitalization of $5.15 billion, a PE ratio of 16.62, a price-to-earnings-growth ratio of 0.64 and a beta of 1.51. The company has a current ratio of 1.88, a quick ratio of 1.16 and a debt-to-equity ratio of 0.34.

Oshkosh (NYSE:OSK) last released its quarterly earnings data on Tuesday, July 31st. The company reported $2.20 EPS for the quarter, beating analysts’ consensus estimates of $2.02 by $0.18. Oshkosh had a return on equity of 19.19% and a net margin of 5.44%. The business had revenue of $2.18 billion for the quarter, compared to the consensus estimate of $2.16 billion. During the same quarter in the prior year, the business posted $1.84 EPS. The business’s revenue for the quarter was up 6.8% on a year-over-year basis. research analysts expect that Oshkosh will post 6.01 earnings per share for the current year.

In related news, insider Wilson R. Jones sold 47,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 2nd. The stock was sold at an average price of $72.02, for a total transaction of $3,384,940.00. Following the transaction, the insider now owns 180,862 shares in the company, valued at approximately $13,025,681.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP David M. Sagehorn sold 45,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 7th. The stock was sold at an average price of $75.40, for a total value of $3,393,000.00. Following the transaction, the vice president now owns 179,097 shares in the company, valued at approximately $13,503,913.80. The disclosure for this sale can be found here. Insiders have sold a total of 99,180 shares of company stock worth $7,346,740 in the last 90 days. 1.60% of the stock is currently owned by company insiders.

A number of institutional investors have recently bought and sold shares of the business. Northpointe Capital LLC lifted its position in Oshkosh by 2.0% during the 2nd quarter. Northpointe Capital LLC now owns 34,572 shares of the company’s stock worth $2,431,000 after acquiring an additional 679 shares during the period. Midwest Professional Planners LTD. lifted its position in Oshkosh by 7.1% during the 1st quarter. Midwest Professional Planners LTD. now owns 10,434 shares of the company’s stock worth $806,000 after acquiring an additional 696 shares during the period. MainStreet Investment Advisors LLC lifted its position in Oshkosh by 9.0% during the 2nd quarter. MainStreet Investment Advisors LLC now owns 9,296 shares of the company’s stock worth $654,000 after acquiring an additional 771 shares during the period. Dynamic Technology Lab Private Ltd lifted its position in Oshkosh by 9.6% during the 2nd quarter. Dynamic Technology Lab Private Ltd now owns 9,244 shares of the company’s stock worth $650,000 after acquiring an additional 807 shares during the period. Finally, Arizona State Retirement System lifted its position in Oshkosh by 1.6% during the 2nd quarter. Arizona State Retirement System now owns 51,320 shares of the company’s stock worth $3,609,000 after acquiring an additional 813 shares during the period. 92.44% of the stock is owned by institutional investors.

Oshkosh Company Profile

Oshkosh Corporation designs, manufactures, and markets specialty vehicles and vehicle bodies worldwide. The company's Access Equipment segment provides aerial work platforms and telehandlers for use in various construction, industrial, institutional, and general maintenance applications. This segment also offers rental fleet loans and leases, and floor plan and retail financing through third-party funding arrangements; towing and recovery equipment; carriers and wreckers; equipment installation; and chassis and service parts sales.

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