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

Oshkosh Co. (NYSE:OSK) gapped up before the market opened on Thursday following a stronger than expected earnings report. 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.

The company reported $2.58 earnings per share for the quarter, topping analysts’ consensus estimates of $2.22 by $0.36. Oshkosh had a return on equity of 19.87% and a net margin of 6.41%.

Analysts Set New Price Targets

Several equities analysts have weighed in on OSK shares. JPMorgan Chase & Co. dropped their price objective on Oshkosh from $125.00 to $115.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 14th. UBS Group decreased their target price on Oshkosh from $129.00 to $125.00 and set a “buy” rating for the company in a research report on Thursday, December 12th. Citigroup cut their price target on shares of Oshkosh from $125.00 to $110.00 and set a “buy” rating on the stock in a report on Tuesday, January 14th. Robert W. Baird decreased their price objective on shares of Oshkosh from $171.00 to $160.00 and set an “outperform” rating for the company in a report on Thursday, October 31st. Finally, KeyCorp upgraded shares of Oshkosh from a “sector weight” rating to an “overweight” rating and set a $113.00 target price on the stock in a research note on Friday, January 24th. One analyst has rated the stock with a sell rating, six have given a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $121.14.

Institutional Investors Weigh In On Oshkosh

Large investors have recently made changes to their positions in the business. JPMorgan Chase & Co. boosted its holdings in Oshkosh by 17.0% in the third quarter. JPMorgan Chase & Co. now owns 195,906 shares of the company’s stock valued at $19,632,000 after acquiring an additional 28,478 shares in the last quarter. Virtu Financial LLC purchased a new stake in shares of Oshkosh in the 3rd quarter worth about $504,000. Barclays PLC increased its stake in shares of Oshkosh by 40.9% in the 3rd quarter. Barclays PLC now owns 111,710 shares of the company’s stock worth $11,192,000 after acquiring an additional 32,435 shares in the last quarter. Y Intercept Hong Kong Ltd boosted its stake in Oshkosh by 57.1% during the third quarter. Y Intercept Hong Kong Ltd now owns 20,184 shares of the company’s stock worth $2,023,000 after acquiring an additional 7,334 shares in the last quarter. Finally, Horizon Kinetics Asset Management LLC lifted its position in Oshkosh by 3.4% in the 3rd quarter. Horizon Kinetics Asset Management LLC now owns 141,140 shares of the company’s stock valued at $14,144,000 after acquiring an additional 4,680 shares in the last quarter. 92.36% of the stock is currently owned by institutional investors.

Oshkosh Trading Up 17.6 %

The firm has a 50 day simple moving average of $99.61 and a 200 day simple moving average of $102.96. The company has a current ratio of 1.46, a quick ratio of 0.79 and a debt-to-equity ratio of 0.15. The firm has a market capitalization of $7.31 billion, a PE ratio of 10.90, a P/E/G ratio of 1.01 and a beta of 1.21.

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.