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

Shares of Oshkosh Co. (NYSE:OSK) gapped up before the market opened on Thursday after the company announced better than expected quarterly earnings. 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, topping analysts’ consensus estimates of $2.26 by $0.63. The business had revenue of $2.54 billion for the quarter, compared to analyst estimates of $2.49 billion. Oshkosh had a return on equity of 20.39% and a net margin of 6.93%. Oshkosh’s quarterly revenue was up 12.2% compared to the same quarter last year. During the same period last year, the company posted $1.59 earnings per share.

Oshkosh Announces Dividend

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

Analyst Ratings Changes

Several brokerages have issued reports on OSK. Citigroup boosted their target price on Oshkosh from $115.00 to $130.00 and gave the company a “buy” rating in a research note on Wednesday, January 31st. Stifel Nicolaus boosted their target price on Oshkosh from $135.00 to $140.00 and gave the company a “buy” rating in a research note on Friday. JPMorgan Chase & Co. boosted their price objective on Oshkosh from $120.00 to $130.00 and gave the company a “neutral” rating in a research note on Tuesday, April 16th. DA Davidson upgraded Oshkosh from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $122.00 to $130.00 in a research note on Friday, March 1st. Finally, UBS Group boosted their price objective on Oshkosh from $117.00 to $129.00 and gave the company a “buy” rating in a research note on Friday, February 2nd. Seven analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, Oshkosh currently has an average rating of “Moderate Buy” and an average price target of $123.50.

Insider Buying and Selling

In related news, SVP Anupam Khare sold 4,234 shares of the company’s 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 sale, the senior vice president now directly owns 13,499 shares of the company’s stock, valued at $1,503,518.62. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.64% of the stock is owned by insiders.

Institutional Investors Weigh In On Oshkosh

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. CWM LLC grew its stake in shares of Oshkosh by 18.8% in the third quarter. CWM LLC now owns 2,286 shares of the company’s stock worth $218,000 after acquiring an additional 362 shares during the last quarter. SG Americas Securities LLC purchased a new stake in shares of Oshkosh in the third quarter worth $1,325,000. Counterpoint Mutual Funds LLC purchased a new stake in shares of Oshkosh in the third quarter worth $86,000. Commonwealth Equity Services LLC grew its stake in shares of Oshkosh by 8.4% in the third quarter. Commonwealth Equity Services LLC now owns 28,652 shares of the company’s stock worth $2,734,000 after acquiring an additional 2,226 shares during the last quarter. Finally, FinTrust Capital Advisors LLC purchased a new stake in shares of Oshkosh in the third quarter worth $191,000. 92.36% of the stock is owned by hedge funds and other institutional investors.

Oshkosh Stock Performance

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

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.