JPMorgan Chase & Co. Raises Oshkosh (NYSE:OSK) Price Target to $125.00

Oshkosh (NYSE:OSK) had its price target lifted by JPMorgan Chase & Co. from $120.00 to $125.00 in a research report released on Monday, Benzinga reports. The brokerage currently has a neutral rating on the stock.

Several other equities research analysts have also recently weighed in on the company. Raymond James initiated coverage on Oshkosh in a report on Friday, June 28th. They issued an “outperform” rating and a $125.00 target price for the company. Jefferies Financial Group decreased their price objective on Oshkosh from $135.00 to $105.00 and set a “hold” rating for the company in a research note on Thursday, July 11th. Citigroup initiated coverage on Oshkosh in a research note on Wednesday, June 26th. They set a “buy” rating and a $130.00 price objective for the company. Stifel Nicolaus decreased their price objective on Oshkosh from $140.00 to $135.00 and set a “buy” rating for the company in a research note on Thursday, August 1st. Finally, Truist Financial decreased their price objective on Oshkosh from $126.00 to $114.00 and set a “hold” rating for the company in a research note on Wednesday, October 9th. One analyst has rated the stock with a sell rating, seven have given a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $125.29.

Oshkosh Stock Performance

Shares of Oshkosh stock opened at $106.16 on Monday. Oshkosh has a 52 week low of $86.10 and a 52 week high of $127.98. The company has a market capitalization of $6.94 billion, a PE ratio of 10.16, a price-to-earnings-growth ratio of 0.96 and a beta of 1.19. The stock’s fifty day moving average is $102.08 and its two-hundred day moving average is $109.13. The company has a quick ratio of 0.81, a current ratio of 1.44 and a debt-to-equity ratio of 0.15.

Oshkosh (NYSE:OSK) last issued its earnings results on Wednesday, July 31st. The company reported $3.34 earnings per share for the quarter, topping the consensus estimate of $3.00 by $0.34. Oshkosh had a return on equity of 20.83% and a net margin of 6.58%. The business had revenue of $2.85 billion during the quarter, compared to analysts’ expectations of $2.78 billion. During the same period in the prior year, the business earned $2.69 EPS. The business’s revenue for the quarter was up 18.0% compared to the same quarter last year. As a group, analysts expect that Oshkosh will post 11.62 earnings per share for the current year.

Oshkosh Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Friday, August 16th were paid a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a yield of 1.73%. The ex-dividend date of this dividend was Friday, August 16th. Oshkosh’s dividend payout ratio (DPR) is presently 17.61%.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Vanguard Group Inc. increased its holdings in shares of Oshkosh by 10.1% in the first quarter. Vanguard Group Inc. now owns 7,848,588 shares of the company’s stock valued at $978,797,000 after purchasing an additional 718,122 shares during the period. Greenhaven Associates Inc. increased its holdings in shares of Oshkosh by 0.8% in the third quarter. Greenhaven Associates Inc. now owns 2,536,484 shares of the company’s stock valued at $254,181,000 after purchasing an additional 19,442 shares during the period. LSV Asset Management increased its holdings in shares of Oshkosh by 5.5% in the first quarter. LSV Asset Management now owns 1,950,720 shares of the company’s stock valued at $243,274,000 after purchasing an additional 102,330 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of Oshkosh by 4.5% in the second quarter. Dimensional Fund Advisors LP now owns 1,814,972 shares of the company’s stock valued at $196,370,000 after purchasing an additional 78,235 shares during the period. Finally, American Century Companies Inc. increased its holdings in shares of Oshkosh by 19.6% in the second quarter. American Century Companies Inc. now owns 1,434,702 shares of the company’s stock valued at $155,235,000 after purchasing an additional 235,496 shares during the period. 92.36% of the stock is owned by institutional investors and hedge funds.

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.