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

Oshkosh Co. (NYSE:OSK) gapped up prior to trading on Thursday after the company announced better than expected quarterly earnings. 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, topping the consensus estimate of $2.22 by $0.36. Oshkosh had a return on equity of 19.87% and a net margin of 6.41%.

Analyst Ratings Changes

OSK has been the topic of several recent analyst reports. UBS Group decreased their target price on Oshkosh from $129.00 to $125.00 and set a “buy” rating on the stock in a research note on Thursday, December 12th. Citigroup cut their target price on shares of Oshkosh from $125.00 to $110.00 and set a “buy” rating for the company in a research note on Tuesday, January 14th. Truist Financial dropped their price objective on shares of Oshkosh from $116.00 to $109.00 and set a “hold” rating for the company in a report on Thursday, January 16th. JPMorgan Chase & Co. cut their price objective on Oshkosh from $125.00 to $115.00 and set a “neutral” rating for the company in a research report on Tuesday, January 14th. Finally, Robert W. Baird decreased their target price on Oshkosh from $171.00 to $160.00 and set an “outperform” rating on the stock in a research report on Thursday, October 31st. One equities 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 stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $121.14.

Institutional Investors Weigh In On Oshkosh

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. V Square Quantitative Management LLC purchased a new position in shares of Oshkosh during the third quarter worth approximately $25,000. Blue Trust Inc. raised its position in Oshkosh by 108.7% during the 4th quarter. Blue Trust Inc. now owns 265 shares of the company’s stock valued at $27,000 after purchasing an additional 138 shares in the last quarter. Hager Investment Management Services LLC purchased a new stake in shares of Oshkosh in the 4th quarter worth $32,000. Brooklyn Investment Group bought a new position in shares of Oshkosh during the 3rd quarter worth $34,000. Finally, International Assets Investment Management LLC grew its position in shares of Oshkosh by 9,922.2% during the 3rd quarter. International Assets Investment Management LLC now owns 902 shares of the company’s stock worth $90,000 after buying an additional 893 shares in the last quarter. Institutional investors own 92.36% of the company’s stock.

Oshkosh Stock Performance

The firm has a 50 day moving average price of $99.69 and a 200 day moving average price of $103.04. The stock has a market cap of $7.37 billion, a PE ratio of 11.00, a price-to-earnings-growth ratio of 1.01 and a beta of 1.21. 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 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.