Morgan Stanley Cuts Oshkosh (NYSE:OSK) Price Target to $91.00

Oshkosh (NYSE:OSK) had its target price trimmed by Morgan Stanley from $110.00 to $91.00 in a report issued on Wednesday morning,Benzinga reports. The brokerage currently has an equal weight rating on the stock.

Other research analysts also recently issued research reports about the stock. KeyCorp cut their price objective on shares of Oshkosh from $132.00 to $120.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 8th. UBS Group cut their price target on shares of Oshkosh from $137.00 to $97.00 and set a “buy” rating on the stock in a report on Monday, April 7th. Evercore ISI increased their price objective on Oshkosh from $122.00 to $137.00 and gave the company an “outperform” rating in a report on Wednesday, February 19th. The Goldman Sachs Group dropped their target price on Oshkosh from $135.00 to $116.00 and set a “neutral” rating on the stock in a research note on Wednesday, March 19th. Finally, JPMorgan Chase & Co. decreased their price target on Oshkosh from $117.00 to $100.00 and set a “neutral” rating for the company in a research note on Monday, April 14th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, Oshkosh presently has a consensus rating of “Hold” and an average target price of $114.62.

Oshkosh Stock Performance

Shares of NYSE:OSK opened at $84.42 on Wednesday. The firm has a 50 day moving average of $95.56 and a 200 day moving average of $100.55. The company has a quick ratio of 0.76, a current ratio of 1.51 and a debt-to-equity ratio of 0.14. The company has a market capitalization of $5.46 billion, a price-to-earnings ratio of 8.16, a price-to-earnings-growth ratio of 1.45 and a beta of 1.26. Oshkosh has a 52 week low of $76.82 and a 52 week high of $125.00.

Oshkosh (NYSE:OSK) last released its quarterly earnings results on Thursday, January 30th. The company reported $2.58 EPS for the quarter, topping the consensus estimate of $2.22 by $0.36. Oshkosh had a return on equity of 19.31% and a net margin of 6.34%. On average, sell-side analysts predict that Oshkosh will post 10.96 earnings per share for the current fiscal year.

Oshkosh Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Monday, February 17th were given a dividend of $0.51 per share. The ex-dividend date of this dividend was Friday, February 14th. This is a positive change from Oshkosh’s previous quarterly dividend of $0.46. This represents a $2.04 dividend on an annualized basis and a yield of 2.42%. Oshkosh’s dividend payout ratio (DPR) is currently 19.71%.

Institutional Trading of Oshkosh

Hedge funds and other institutional investors have recently made changes to their positions in the business. Wellington Management Group LLP boosted its holdings in Oshkosh by 10.5% in the third quarter. Wellington Management Group LLP now owns 17,477 shares of the company’s stock valued at $1,751,000 after purchasing an additional 1,665 shares during the last quarter. Barclays PLC boosted its stake in shares of Oshkosh by 40.9% in the third quarter. Barclays PLC now owns 111,710 shares of the company’s stock worth $11,192,000 after buying an additional 32,435 shares during the last quarter. Geode Capital Management LLC grew its holdings in Oshkosh by 1.0% during the third quarter. Geode Capital Management LLC now owns 1,089,930 shares of the company’s stock worth $109,250,000 after acquiring an additional 10,357 shares during the period. Virtu Financial LLC purchased a new position in Oshkosh during the third quarter valued at approximately $504,000. Finally, Sanctuary Advisors LLC lifted its holdings in Oshkosh by 18.9% in the third quarter. Sanctuary Advisors LLC now owns 14,704 shares of the company’s stock valued at $1,473,000 after acquiring an additional 2,340 shares during the period. Institutional investors and hedge funds own 92.36% of the company’s stock.

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.