Oshkosh (NYSE:OSK) Stock Crosses Above Fifty Day Moving Average – Here’s Why

Oshkosh Corporation (NYSE:OSK)’s share price passed above its 50 day moving average during trading on Monday. The stock has a 50 day moving average of $137.92 and traded as high as $142.35. Oshkosh shares last traded at $140.1370, with a volume of 647,599 shares changing hands.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on OSK shares. Weiss Ratings reiterated a “buy (b-)” rating on shares of Oshkosh in a research report on Friday, October 9th. DA Davidson cut their target price on shares of Oshkosh from $168.00 to $164.00 and set a “buy” rating on the stock in a research report on Monday, November 2nd. Citigroup raised their target price on shares of Oshkosh from $135.00 to $140.00 and gave the company a “neutral” rating in a research note on Monday, November 2nd. Truist Financial reiterated a “buy” rating and set a $161.00 price target (down from $174.00) on shares of Oshkosh in a research report on Friday, October 30th. Finally, Morgan Stanley lowered their price target on shares of Oshkosh from $147.00 to $139.00 and set an “equal weight” rating for the company in a research report on Tuesday, November 3rd. Eleven equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $163.79.

Oshkosh Stock Performance

The stock has a 50 day moving average price of $137.92 and a two-hundred day moving average price of $146.06. The company has a current ratio of 1.72, a quick ratio of 1.00 and a debt-to-equity ratio of 0.13. The company has a market cap of $8.54 billion, a price-to-earnings ratio of 17.69, a P/E/G ratio of 1.31 and a beta of 1.27.

Oshkosh (NYSE:OSK) last announced its quarterly earnings data on Thursday, October 29th. The company reported $2.41 EPS for the quarter, missing analysts’ consensus estimates of $3.06 by ($0.65). Oshkosh had a return on equity of 11.69% and a net margin of 4.63%. The company had revenue of $2.84 billion for the quarter, compared to analyst estimates of $2.94 billion. During the same period last year, the firm earned $3.20 earnings per share. The firm’s revenue for the quarter was up 5.6% on a year-over-year basis. Analysts predict that Oshkosh Corporation will post 8.79 EPS for the current year.

Oshkosh Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, November 30th. Shareholders of record on Monday, November 16th will be issued a dividend of $0.57 per share. The ex-dividend date is Monday, November 16th. This represents a $2.28 dividend on an annualized basis and a yield of 1.6%. Oshkosh’s dividend payout ratio (DPR) is 28.79%.

Insider Transactions at Oshkosh

In other news, Director John Pfeifer sold 778 shares of the business’s stock in a transaction dated Friday, September 11th. The stock was sold at an average price of $150.00, for a total transaction of $116,700.00. Following the completion of the transaction, the director directly owned 150,669 shares in the company, valued at approximately $22,600,350. The trade was a 0.51% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.64% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of OSK. Annex Advisory Services LLC grew its holdings in shares of Oshkosh by 2.8% during the 2nd quarter. Annex Advisory Services LLC now owns 2,967 shares of the company’s stock worth $455,000 after purchasing an additional 80 shares in the last quarter. World Investment Advisors increased its position in shares of Oshkosh by 4.7% in the first quarter. World Investment Advisors now owns 1,809 shares of the company’s stock worth $266,000 after purchasing an additional 82 shares during the period. Covestor Ltd raised its stake in Oshkosh by 1.3% in the third quarter. Covestor Ltd now owns 6,648 shares of the company’s stock valued at $856,000 after purchasing an additional 87 shares in the last quarter. Waverly Advisors LLC raised its stake in Oshkosh by 0.5% in the first quarter. Waverly Advisors LLC now owns 18,595 shares of the company’s stock valued at $2,737,000 after purchasing an additional 90 shares in the last quarter. Finally, Candriam S.C.A. raised its stake in Oshkosh by 7.0% in the third quarter. Candriam S.C.A. now owns 1,691 shares of the company’s stock valued at $219,000 after purchasing an additional 110 shares in the last quarter. Institutional investors own 92.36% of the company’s stock.

Oshkosh Company Profile

Oshkosh Corporation is a manufacturer of specialty vehicles and equipment for customers in construction, emergency response, waste services, airports and defense. Its products include JLG aerial work platforms and telehandlers, fire and emergency vehicles, refuse collection trucks, concrete mixers, airport snow removal equipment and military vehicles.

The company operates through Access, Vocational and Defense businesses, with well-known brands including JLG, Pierce, McNeilus and Oshkosh.