Otter Tail (NASDAQ:OTTR) was upgraded by analysts at BidaskClub from a “sell” rating to a “hold” rating in a research note issued to investors on Wednesday.
OTTR has been the topic of a number of other research reports. Zacks Investment Research lowered Otter Tail from a “buy” rating to a “hold” rating in a research report on Thursday, January 4th. Sidoti lowered Otter Tail from a “buy” rating to a “neutral” rating and set a $46.00 target price on the stock. in a research report on Monday, January 8th. Finally, Williams Capital reissued a “hold” rating and issued a $42.00 price objective (up from $41.00) on shares of Otter Tail in a research note on Thursday, February 15th. Five investment analysts have rated the stock with a hold rating, Otter Tail has an average rating of “Hold” and an average price target of $44.67.
Shares of Otter Tail (OTTR) traded down $0.70 during trading hours on Wednesday, hitting $41.35. The stock had a trading volume of 86,200 shares, compared to its average volume of 105,099. Otter Tail has a 52-week low of $35.65 and a 52-week high of $48.65. The stock has a market cap of $1,663.39, a price-to-earnings ratio of 22.72 and a beta of 0.71. The company has a quick ratio of 0.61, a current ratio of 0.93 and a debt-to-equity ratio of 0.71.
Otter Tail (NASDAQ:OTTR) last announced its earnings results on Monday, February 12th. The utilities provider reported $0.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.44 by $0.06. Otter Tail had a return on equity of 10.77% and a net margin of 8.53%. The firm had revenue of $206.70 million for the quarter, compared to analyst estimates of $207.30 million. During the same quarter last year, the firm posted $0.44 EPS. The business’s revenue was up 5.1% on a year-over-year basis. analysts forecast that Otter Tail will post 1.9 earnings per share for the current year.
In related news, CFO Kevin G. Moug sold 1,500 shares of the stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $40.55, for a total value of $60,825.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 1.40% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of OTTR. Steward Partners Investment Advisory LLC acquired a new position in Otter Tail in the 3rd quarter valued at $107,000. Ameritas Investment Partners Inc. raised its stake in Otter Tail by 9.8% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 3,453 shares of the utilities provider’s stock valued at $137,000 after purchasing an additional 309 shares during the last quarter. Amalgamated Bank acquired a new position in Otter Tail in the 3rd quarter valued at $212,000. Murphy Capital Management Inc. acquired a new position in Otter Tail in the 3rd quarter valued at $216,000. Finally, Ellington Management Group LLC acquired a new position in Otter Tail in the 4th quarter valued at $244,000. 41.58% of the stock is owned by hedge funds and other institutional investors.
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About Otter Tail
Otter Tail Corporation is a holding company. The Company operates through three segments: Electric, Manufacturing and Plastics. The Electric segment includes the production, transmission, distribution and sale of electric energy in Minnesota, North Dakota and South Dakota by Otter Tail Power Company (OTP).
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