Oshkosh (OSK) Downgraded by Zacks Investment Research
Oshkosh (NYSE:OSK) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Monday.
According to Zacks, “Strong backlogs across all the four segments, along with expectation of a favorable market demand, have encouraged Oshkosh to set positive guidance for fiscal 2019. Also, solid product demand in the North American market and other international markets led to the robust demand for Oshkosh’s access equipment segment’s products. It also pays regular dividends and engages in share buyback programs to enhance shareholder value. In the past three months, shares of the company have outperformed the industry it belongs to. However, the struggle to hire new employees to manage ramped-up manufacturing activities and increasing raw material costs are headwinds for Oshkosh Corporation.”
OSK has been the topic of several other reports. Royal Bank of Canada reaffirmed a “buy” rating and issued a $82.00 price target on shares of Oshkosh in a research report on Monday, January 7th. Goldman Sachs Group lowered shares of Oshkosh from a “neutral” rating to a “sell” rating and reduced their price target for the stock from $66.00 to $58.00 in a research report on Monday, December 10th. JPMorgan Chase & Co. upgraded shares of Oshkosh from a “neutral” rating to an “overweight” rating and set a $80.00 price target on the stock in a research report on Thursday. SunTrust Banks increased their price objective on shares of Oshkosh to $96.00 and gave the stock a “buy” rating in a research report on Friday, November 2nd. Finally, ValuEngine upgraded shares of Oshkosh from a “strong sell” rating to a “sell” rating in a report on Thursday, November 1st. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $82.86.
Oshkosh (NYSE:OSK) last posted its earnings results on Thursday, November 1st. The company reported $1.80 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.45 by $0.35. The firm had revenue of $2.06 billion for the quarter, compared to the consensus estimate of $1.98 billion. Oshkosh had a net margin of 6.12% and a return on equity of 19.93%. The business’s quarterly revenue was up 4.8% on a year-over-year basis. During the same period in the prior year, the business posted $1.38 earnings per share. As a group, sell-side analysts anticipate that Oshkosh will post 7.07 earnings per share for the current year.
In other news, SVP Tina R. Schoner bought 630 shares of the stock in a transaction on Friday, November 16th. The shares were bought at an average price of $66.78 per share, with a total value of $42,071.40. Following the completion of the acquisition, the senior vice president now owns 630 shares of the company’s stock, valued at $42,071.40. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Frank R. Nerenhausen sold 10,000 shares of the company’s stock in a transaction on Wednesday, November 28th. The shares were sold at an average price of $70.00, for a total value of $700,000.00. Following the completion of the sale, the executive vice president now directly owns 62,385 shares in the company, valued at approximately $4,366,950. The disclosure for this sale can be found here. Company insiders own 1.60% of the company’s stock.
A number of institutional investors have recently bought and sold shares of OSK. Point72 Hong Kong Ltd acquired a new stake in shares of Oshkosh in the third quarter valued at about $106,000. Ayalon Holdings Ltd. bought a new stake in Oshkosh during the 3rd quarter valued at about $125,000. Trilogy Capital Inc. bought a new stake in Oshkosh during the 3rd quarter valued at about $199,000. Cornerstone Wealth Management LLC increased its stake in Oshkosh by 19.0% during the 3rd quarter. Cornerstone Wealth Management LLC now owns 16,818 shares of the company’s stock valued at $200,000 after purchasing an additional 2,680 shares in the last quarter. Finally, Cerebellum GP LLC grew its stake in shares of Oshkosh by 44.9% in the fourth quarter. Cerebellum GP LLC now owns 3,532 shares of the company’s stock worth $217,000 after acquiring an additional 1,094 shares during the period. 89.69% of the stock is currently owned by institutional investors.
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 services; and chassis and service parts sales.
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