Oshkosh Co. (NYSE:OSK) Sees Large Increase in Short Interest

Oshkosh Co. (NYSE:OSK) was the recipient of a large growth in short interest during the month of November. As of November 15th, there was short interest totalling 1,470,000 shares, a growth of 25.6% from the October 31st total of 1,170,000 shares. Based on an average daily volume of 551,500 shares, the days-to-cover ratio is currently 2.7 days. Approximately 2.3% of the company’s stock are short sold.

Institutional Trading of Oshkosh

Several hedge funds and other institutional investors have recently added to or reduced their stakes in OSK. SG Americas Securities LLC acquired a new position in shares of Oshkosh during the 2nd quarter worth approximately $1,500,000. Cetera Investment Advisers raised its position in Oshkosh by 772.9% during the first quarter. Cetera Investment Advisers now owns 27,409 shares of the company’s stock worth $3,418,000 after acquiring an additional 24,269 shares during the period. OFI Invest Asset Management purchased a new position in Oshkosh during the second quarter valued at $1,545,000. Horizon Kinetics Asset Management LLC grew its position in shares of Oshkosh by 3.4% in the third quarter. Horizon Kinetics Asset Management LLC now owns 141,140 shares of the company’s stock valued at $14,144,000 after purchasing an additional 4,680 shares during the period. Finally, Equity Investment Corp raised its position in shares of Oshkosh by 1.5% during the 3rd quarter. Equity Investment Corp now owns 588,884 shares of the company’s stock worth $59,012,000 after purchasing an additional 8,611 shares during the last quarter. Institutional investors and hedge funds own 92.36% of the company’s stock.

Analysts Set New Price Targets

OSK has been the topic of several analyst reports. Truist Financial cut their target price on Oshkosh from $126.00 to $114.00 and set a “hold” rating on the stock in a research note on Wednesday, October 9th. Evercore ISI reduced their price objective on shares of Oshkosh from $137.00 to $119.00 and set an “outperform” rating for the company in a research note on Monday, August 19th. Robert W. Baird decreased their target price on shares of Oshkosh from $171.00 to $160.00 and set an “outperform” rating for the company in a research report on Thursday, October 31st. Finally, JPMorgan Chase & Co. lifted their price target on shares of Oshkosh from $120.00 to $125.00 and gave the stock a “neutral” rating in a report on Monday, October 14th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Oshkosh has a consensus rating of “Hold” and a consensus target price of $123.14.

Oshkosh Stock Performance

NYSE:OSK traded down $1.46 during midday trading on Monday, hitting $112.15. The company’s stock had a trading volume of 386,005 shares, compared to its average volume of 505,082. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.46 and a quick ratio of 0.79. Oshkosh has a fifty-two week low of $93.34 and a fifty-two week high of $127.98. The firm’s 50 day moving average is $106.07 and its 200-day moving average is $106.51. The firm has a market cap of $7.30 billion, a P/E ratio of 10.89, a P/E/G ratio of 1.11 and a beta of 1.18.

Oshkosh (NYSE:OSK) last issued its earnings results on Wednesday, October 30th. The company reported $2.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.87 by $0.06. Oshkosh had a net margin of 6.41% and a return on equity of 19.87%. The firm had revenue of $2.74 billion during the quarter, compared to analysts’ expectations of $2.63 billion. Equities analysts anticipate that Oshkosh will post 11.35 earnings per share for the current fiscal year.

Oshkosh Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Friday, November 15th were given a $0.46 dividend. The ex-dividend date was Friday, November 15th. This represents a $1.84 annualized dividend and a yield of 1.64%. Oshkosh’s dividend payout ratio is presently 17.86%.

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.