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

Oshkosh Co. (NYSE:OSK)’s stock price gapped up before the market opened on Thursday following a better than expected earnings announcement. 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 trading hands.

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

Wall Street Analyst Weigh In

OSK has been the subject of several research reports. JPMorgan Chase & Co. lowered their price target on shares of Oshkosh from $125.00 to $115.00 and set a “neutral” rating for the company in a research report on Tuesday, January 14th. Truist Financial lowered their price objective on Oshkosh from $116.00 to $109.00 and set a “hold” rating for the company in a research report on Thursday, January 16th. Citigroup decreased their price target on Oshkosh from $125.00 to $110.00 and set a “buy” rating for the company in a research note on Tuesday, January 14th. UBS Group dropped their price target on Oshkosh from $129.00 to $125.00 and set a “buy” rating on the stock in a research note on Thursday, December 12th. Finally, KeyCorp upgraded shares of Oshkosh from a “sector weight” rating to an “overweight” rating and set a $113.00 price objective for the company in a research note on Friday, January 24th. One research analyst has rated the stock with a sell rating, six have given a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $121.14.

Institutional Trading of Oshkosh

A number of institutional investors and hedge funds have recently bought and sold shares of the business. V Square Quantitative Management LLC acquired a new stake in Oshkosh in the 3rd quarter valued at about $25,000. Blue Trust Inc. increased its holdings in shares of 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 period. Hager Investment Management Services LLC purchased a new position in Oshkosh in the 4th quarter valued at $32,000. Brooklyn Investment Group purchased a new stake in shares of Oshkosh in the third quarter valued at about $34,000. Finally, International Assets Investment Management LLC raised its holdings in Oshkosh by 9,922.2% during the third quarter. International Assets Investment Management LLC now owns 902 shares of the company’s stock worth $90,000 after purchasing an additional 893 shares in the last quarter. 92.36% of the stock is currently owned by hedge funds and other institutional investors.

Oshkosh Stock Performance

The stock has a market cap of $7.31 billion, a price-to-earnings ratio of 10.90, a P/E/G ratio of 1.01 and a beta of 1.21. The stock’s 50-day moving average is $99.61 and its 200 day moving average is $102.96. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.46 and a quick ratio of 0.79.

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.