Oshkosh Co. (NYSE:OSK) Sees Significant Decline in Short Interest

Oshkosh Co. (NYSE:OSK) was the recipient of a large drop in short interest in November. As of November 30th, there was short interest totalling 1,210,000 shares, a drop of 17.7% from the November 15th total of 1,470,000 shares. Based on an average trading volume of 578,900 shares, the days-to-cover ratio is presently 2.1 days. Currently, 1.9% of the company’s stock are short sold.

Wall Street Analyst Weigh In

OSK has been the subject of a number of research analyst reports. JPMorgan Chase & Co. upped their target price on Oshkosh from $120.00 to $125.00 and gave the company a “neutral” rating in a research report on Monday, October 14th. Truist Financial dropped their price objective on shares of Oshkosh from $126.00 to $114.00 and set a “hold” rating for the company in a research note on Wednesday, October 9th. Evercore ISI reduced their target price on Oshkosh from $137.00 to $119.00 and set an “outperform” rating on the stock in a research note on Monday, August 19th. Robert W. Baird dropped their price target on Oshkosh from $171.00 to $160.00 and set an “outperform” rating for the company in a research report on Thursday, October 31st. Finally, UBS Group reduced their price objective on Oshkosh from $129.00 to $125.00 and set a “buy” rating on the stock in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $122.86.

Oshkosh Trading Down 1.4 %

Shares of OSK stock traded down $1.45 during trading hours on Friday, hitting $100.00. 486,380 shares of the company were exchanged, compared to its average volume of 513,327. The firm has a fifty day moving average of $107.37 and a 200 day moving average of $105.91. The company has a quick ratio of 0.79, a current ratio of 1.46 and a debt-to-equity ratio of 0.15. Oshkosh has a 1 year low of $93.34 and a 1 year high of $127.98. The firm has a market cap of $6.51 billion, a PE ratio of 9.71, a PEG ratio of 1.01 and a beta of 1.19.

Oshkosh (NYSE:OSK) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $2.93 earnings per share for the quarter, topping analysts’ consensus estimates of $2.87 by $0.06. The company had revenue of $2.74 billion for the quarter, compared to the consensus estimate of $2.63 billion. Oshkosh had a net margin of 6.41% and a return on equity of 19.87%. Analysts expect that Oshkosh will post 11.35 earnings per share for the current year.

Oshkosh Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Friday, November 15th were paid a $0.46 dividend. This represents a $1.84 annualized dividend and a dividend yield of 1.84%. The ex-dividend date was Friday, November 15th. Oshkosh’s dividend payout ratio is currently 17.86%.

Institutional Trading of Oshkosh

Institutional investors and hedge funds have recently bought and sold shares of the business. SG Americas Securities LLC acquired a new position in Oshkosh during the 2nd quarter worth approximately $1,500,000. OFI Invest Asset Management acquired a new position in shares of Oshkosh during the second quarter worth $1,545,000. Y Intercept Hong Kong Ltd boosted its stake in shares of Oshkosh by 57.1% in the third quarter. Y Intercept Hong Kong Ltd now owns 20,184 shares of the company’s stock valued at $2,023,000 after purchasing an additional 7,334 shares during the period. Horizon Kinetics Asset Management LLC grew its holdings in Oshkosh by 3.4% during the 3rd quarter. Horizon Kinetics Asset Management LLC now owns 141,140 shares of the company’s stock valued at $14,144,000 after purchasing an additional 4,680 shares in the last quarter. Finally, Equity Investment Corp increased its stake in Oshkosh by 1.5% during the 3rd quarter. Equity Investment Corp now owns 588,884 shares of the company’s stock worth $59,012,000 after buying an additional 8,611 shares during the period. Institutional investors and hedge funds own 92.36% of the company’s stock.

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.