Oshkosh (NYSE:OSK) Shares Gap Up After Strong Earnings

Oshkosh Co. (NYSE:OSK)’s share price gapped up before the market opened on Thursday following a better than expected earnings announcement. The stock had previously closed at $121.25, but opened at $124.89. Oshkosh shares last traded at $121.66, with a volume of 274,956 shares.

The company reported $2.89 EPS for the quarter, beating the consensus estimate of $2.26 by $0.63. Oshkosh had a return on equity of 20.39% and a net margin of 6.93%. The business had revenue of $2.54 billion for the quarter, compared to analysts’ expectations of $2.49 billion. During the same period in the prior year, the business posted $1.59 earnings per share. The firm’s revenue was up 12.2% on a year-over-year basis.

Oshkosh Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, May 28th. Investors of record on Monday, May 13th will be issued a $0.46 dividend. This represents a $1.84 annualized dividend and a yield of 1.56%. The ex-dividend date is Friday, May 10th. Oshkosh’s payout ratio is presently 17.61%.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on OSK shares. DA Davidson upgraded Oshkosh from a “neutral” rating to a “buy” rating and increased their price target for the stock from $122.00 to $130.00 in a report on Friday, March 1st. TheStreet upgraded Oshkosh from a “c” rating to a “b-” rating in a report on Tuesday, January 30th. Robert W. Baird increased their price target on Oshkosh from $140.00 to $158.00 and gave the stock an “outperform” rating in a report on Friday. Truist Financial increased their price target on Oshkosh from $121.00 to $132.00 and gave the stock a “hold” rating in a report on Friday. Finally, Stifel Nicolaus increased their price target on Oshkosh from $135.00 to $140.00 and gave the stock a “buy” rating in a report on Friday. Seven analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $123.50.

Insider Transactions at Oshkosh

In related news, SVP Anupam Khare sold 4,234 shares of the stock in a transaction on Friday, February 9th. The stock was sold at an average price of $111.38, for a total value of $471,582.92. Following the completion of the sale, the senior vice president now directly owns 13,499 shares of the company’s stock, valued at approximately $1,503,518.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.64% of the stock is owned by insiders.

Institutional Investors Weigh In On Oshkosh

A number of institutional investors and hedge funds have recently bought and sold shares of OSK. Atlas Capital Advisors LLC raised its position in Oshkosh by 161.6% in the 1st quarter. Atlas Capital Advisors LLC now owns 225 shares of the company’s stock valued at $28,000 after buying an additional 139 shares during the last quarter. BluePath Capital Management LLC purchased a new stake in Oshkosh in the 3rd quarter valued at $32,000. Rise Advisors LLC raised its position in Oshkosh by 215.5% in the 1st quarter. Rise Advisors LLC now owns 265 shares of the company’s stock valued at $33,000 after buying an additional 181 shares during the last quarter. Venturi Wealth Management LLC increased its position in shares of Oshkosh by 53.6% during the 4th quarter. Venturi Wealth Management LLC now owns 318 shares of the company’s stock valued at $34,000 after purchasing an additional 111 shares during the last quarter. Finally, GAMMA Investing LLC purchased a new stake in shares of Oshkosh during the 4th quarter valued at $42,000. 92.36% of the stock is owned by hedge funds and other institutional investors.

Oshkosh Trading Down 0.9 %

The stock has a market capitalization of $7.71 billion, a PE ratio of 11.25, a price-to-earnings-growth ratio of 1.39 and a beta of 1.29. The firm has a 50-day moving average price of $117.49 and a 200-day moving average price of $107.07. The company has a current ratio of 1.43, a quick ratio of 0.76 and a debt-to-equity ratio of 0.16.

About Oshkosh

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.