Evercore ISI Trims Oshkosh (NYSE:OSK) Target Price to $119.00

Oshkosh (NYSE:OSK) had its price target reduced by stock analysts at Evercore ISI from $137.00 to $119.00 in a report released on Monday, Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Evercore ISI’s price target indicates a potential upside of 17.36% from the stock’s previous close.

A number of other research analysts also recently issued reports on OSK. Robert W. Baird upped their target price on shares of Oshkosh from $158.00 to $190.00 and gave the company an “outperform” rating in a research report on Friday, May 10th. Jefferies Financial Group cut their price objective on shares of Oshkosh from $135.00 to $105.00 and set a “hold” rating on the stock in a report on Thursday, July 11th. Truist Financial lifted their target price on shares of Oshkosh from $123.00 to $126.00 and gave the stock a “hold” rating in a report on Thursday, August 1st. Bank of America increased their price target on Oshkosh from $108.00 to $112.00 and gave the company an “underperform” rating in a research note on Tuesday, May 28th. Finally, Citigroup began coverage on Oshkosh in a research note on Wednesday, June 26th. They set a “buy” rating and a $130.00 price objective for the company. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, Oshkosh currently has an average rating of “Hold” and a consensus target price of $125.07.

Oshkosh Stock Performance

Shares of Oshkosh stock opened at $101.40 on Monday. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.44 and a quick ratio of 0.81. The firm has a 50 day simple moving average of $106.01 and a 200 day simple moving average of $112.48. Oshkosh has a fifty-two week low of $86.10 and a fifty-two week high of $127.98. The firm has a market cap of $6.60 billion, a P/E ratio of 9.70, a P/E/G ratio of 0.80 and a beta of 1.22.

Oshkosh (NYSE:OSK) last released its earnings results on Wednesday, July 31st. The company reported $3.34 EPS for the quarter, beating the consensus estimate of $3.00 by $0.34. Oshkosh had a return on equity of 20.83% and a net margin of 6.58%. The company had revenue of $2.85 billion during the quarter, compared to analysts’ expectations of $2.78 billion. During the same period last year, the firm earned $2.69 EPS. The business’s revenue for the quarter was up 18.0% on a year-over-year basis. Sell-side analysts predict that Oshkosh will post 11.67 earnings per share for the current fiscal year.

Institutional Trading of Oshkosh

Several hedge funds have recently bought and sold shares of OSK. LSV Asset Management increased its position in shares of Oshkosh by 410.6% during the fourth quarter. LSV Asset Management now owns 1,848,390 shares of the company’s stock worth $200,384,000 after acquiring an additional 1,486,402 shares in the last quarter. Norges Bank bought a new position in Oshkosh during the 4th quarter worth about $83,524,000. Vanguard Group Inc. lifted its holdings in shares of Oshkosh by 10.1% in the first quarter. Vanguard Group Inc. now owns 7,848,588 shares of the company’s stock valued at $978,797,000 after purchasing an additional 718,122 shares in the last quarter. American Century Companies Inc. boosted its position in shares of Oshkosh by 19.6% during the second quarter. American Century Companies Inc. now owns 1,434,702 shares of the company’s stock worth $155,235,000 after buying an additional 235,496 shares during the period. Finally, Hennessy Advisors Inc. bought a new position in shares of Oshkosh during the fourth quarter worth about $23,926,000. 92.36% of the stock is currently owned by institutional investors and hedge funds.

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.