Oshkosh (NYSE:OSK) Shares Gap Up Following Better-Than-Expected Earnings

Oshkosh Co. (NYSE:OSK) gapped up before the market opened on Thursday following a stronger than expected earnings report. The stock had previously closed at $95.63, but opened at $108.01. Oshkosh shares last traded at $110.50, with a volume of 290,915 shares changing hands.

The company reported $2.58 EPS for the quarter, topping analysts’ consensus estimates of $2.22 by $0.36. Oshkosh had a net margin of 6.41% and a return on equity of 19.87%.

Analyst Ratings Changes

Several research firms have issued reports on OSK. UBS Group cut their target price on Oshkosh from $129.00 to $125.00 and set a “buy” rating on the stock in a research note on Thursday, December 12th. Truist Financial cut their price objective on shares of Oshkosh from $116.00 to $109.00 and set a “hold” rating on the stock in a research report on Thursday, January 16th. Citigroup decreased their target price on shares of Oshkosh from $125.00 to $110.00 and set a “buy” rating for the company in a research report on Tuesday, January 14th. JPMorgan Chase & Co. cut their price target on shares of Oshkosh from $125.00 to $115.00 and set a “neutral” rating on the stock in a report on Tuesday, January 14th. Finally, Robert W. Baird reduced their price target on Oshkosh from $171.00 to $160.00 and set an “outperform” rating on the stock in a research report on Thursday, October 31st. One research analyst has rated the stock with a sell rating, six have issued a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $121.14.

Institutional Trading of Oshkosh

Hedge funds and other institutional investors have recently made changes to their positions in the business. Blue Trust Inc. boosted its holdings in Oshkosh by 108.7% in the fourth quarter. Blue Trust Inc. now owns 265 shares of the company’s stock valued at $27,000 after purchasing an additional 138 shares during the last quarter. Carolina Wealth Advisors LLC grew its holdings in Oshkosh by 2.5% in the fourth quarter. Carolina Wealth Advisors LLC now owns 6,062 shares of the company’s stock valued at $576,000 after purchasing an additional 146 shares during the period. V Square Quantitative Management LLC grew its holdings in Oshkosh by 64.1% in the fourth quarter. V Square Quantitative Management LLC now owns 402 shares of the company’s stock valued at $38,000 after purchasing an additional 157 shares during the period. Manchester Capital Management LLC raised its stake in shares of Oshkosh by 11.1% during the 4th quarter. Manchester Capital Management LLC now owns 2,143 shares of the company’s stock worth $204,000 after buying an additional 214 shares during the period. Finally, KBC Group NV lifted its position in shares of Oshkosh by 15.2% during the 3rd quarter. KBC Group NV now owns 1,666 shares of the company’s stock valued at $167,000 after buying an additional 220 shares in the last quarter. Institutional investors and hedge funds own 92.36% of the company’s stock.

Oshkosh Stock Up 18.4 %

The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.79 and a current ratio of 1.46. The business’s 50 day moving average is $99.69 and its 200-day moving average is $103.04. The stock has a market cap of $7.37 billion, a price-to-earnings ratio of 11.00, a PEG ratio of 1.01 and a beta of 1.21.

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.