Oshkosh (OSK) Stock Price Target Lowered at Drexel Hamilton
NEW YORK (TheStreet) -- Drexel Hamilton lowered its price target on Oshkosh (OSK) - Get Report to $47 from $50 on Monday. The firm maintained its "buy" rating on the stock.
The Oshkosh, WI-based access equipment company reported its 2015 fourth quarter earnings results last week, with earnings coming in below expectations and revenue above expectations.
Oshkosh reported earnings of 64 cents per share, lower than Drexel Hamilton's projection that the company would report earnings of 76 cents per share. Oshkosh also reported revenue of $1.57 billion, which was 2.1% higher than Drexel Hamilton's forecast.
Oshkosh has projected its fiscal 2016 earnings expectations at $3 per share to $3.40 per share due to a more cautious outlook for its access equipment and concrete mixer businesses, the company said.
Drexel Hamilton lowered its fiscal year 2016 earnings estimate for Oshkosh to $2.96 from $4 per share.
Shares of Oshkosh were up 2.73% to $42.21 in early afternoon trading on Monday.
Separately, TheStreet Ratings team rates OSHKOSH CORP as a Hold with a ratings score of C. TheStreet Ratings Team has this to say about their recommendation:
We rate OSHKOSH CORP (OSK) a HOLD. The primary factors that have impacted our rating are mixed - some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its attractive valuation levels, good cash flow from operations and largely solid financial position with reasonable debt levels by most measures. However, as a counter to these strengths, we also find weaknesses including deteriorating net income, disappointing return on equity and poor profit margins.
You can view the full analysis from the report here: OSK
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