Oshkosh Corporation (Holding Co (NYSE:OSK) at ‘Overbought’ As Indicated by Its RSI(14)

0
153

Oshkosh Corporation (Holding Co (NYSE:OSK) is at an overbought level with an RSI(14) at 82.84.

The Relative Strength Index (RSI) is a very common technical indicator used to assess the strength and weakness of momentum in price action. RSI levels 70 and above are considered overbought and under 30 is considered oversold. Overbought is a condition that occurs when price momentum is considered too high and susceptible to a decline.

Volatility

Oshkosh Corporation (Holding Co has a beta of 1.86 so it is more volatile than the market as a whole. Stocks with beta’s lower than 1 are less risky than the market while those with a higher beta may be more risky than the market.

The stock’s Average True Range (ATR) is 1.22. The ATR is a measure of volatility. It can’t tell you the direction of the stock but indicates how likely the price is to change.

Company shares last traded at $89.76 which is impressively higher than the 50 day moving average which is $81.49 and which is significantly above the 200 day moving average of $72.25. The 50 day moving average moved up $8.27 and the 200 day average went up $17.51 or +24.23%.

Short Interest

Traders are feeling more bullish recently looking at the motion in short interest. The stock had a fall in short interest between September 15, 2017 and September 29, 2017 of -9.77%. Short interest fell 400,023 over that period. With short interest at 3,695,336 and short average daily volume at 400,064, days to cover is 9.0 and the short interest percentage is 0.05% as of September 29.

Recent Analyst Ratings

October 13 investment analysts at Citigroup maintained a stock rating of “Buy” but raised the price target from $55.00 to $100.00. On August 3 Deutsche Bank maintained a company rating of “Hold” and raised the price target to $80.00 from $60.00.

On August 3 the stock rating was upgraded to “Neutral” from “Underperform” in a report from Bank of America. On July 7, 2017 the stock rating was changed to “Underperform” in a report from Bank of America down from the previous “Buy” rating.

Additionally the company recently announced a dividend for shareholders paid on Friday the 1st of September 2017. The dividend was $0.210 per share for the quarter which comes to $0.84 on an annualized basis. The dividend yield was $0.96. The ex-dividend date was Wednesday the 16th of August 2017.

The company currently has a P/E ratio of 26.64 and market capitalization is 6.72B. As of the last earnings report the EPS was $3.37 and is projected to be $3.96 for the current year with 74,829,000 shares outstanding. Next quarter’s EPS is expected be $0.50 with next year’s EPS projected to be $4.16.

Company Information

Oshkosh Corporation, launched on June 30, 2014, is a designer, manufacturer and marketer of a range of specialty vehicles and vehicle bodies, including access equipment, defense trucks and trailers, fire and emergency vehicles, concrete mixers and refuse collection vehicles. The Business’s segments include Access Equipment; Defense; Fire & Emergency, and Commercial. The Access Equipment segment consists of the operations of JLG Industries, Inc. (JLG) and JerrDan Corporation (JerrDan). The Defense segment consists of the operations of Oshkosh Defense, LLC (Oshkosh Defense). The Fire & Emergency segment consists of the operations of Pierce Manufacturing Inc. (Pierce), Oshkosh Airport Products, LLC (Airport Products) and Kewaunee Fabrications LLC (Kewaunee). The Commercial segment includes the operations of Concrete Equipment Company, Inc. (CON-E-CO), London Machinery Inc. (London), Iowa Mold Tooling Co., Inc. (IMT) and Oshkosh Commercial Products, LLC (Oshkosh Commercial)..