Otter Tail (NASDAQ:OTTR) was upgraded by investment analysts at BidaskClub from a “hold” rating to a “buy” rating in a report issued on Wednesday.
A number of other research firms have also commented on OTTR. Zacks Investment Research lowered Otter Tail from a “buy” rating to a “hold” rating in a research note on Friday, February 2nd. Sidoti lowered Otter Tail from a “buy” rating to a “neutral” rating and set a $46.00 price objective on the stock. in a research note on Monday, January 8th. Finally, Williams Capital reissued a “hold” rating and issued a $42.00 price objective (up previously from $41.00) on shares of Otter Tail in a research note on Thursday, February 15th. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $44.33.
Shares of OTTR stock opened at $43.50 on Wednesday. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.93 and a quick ratio of 0.59. The firm has a market capitalization of $1,723.76, a price-to-earnings ratio of 23.90 and a beta of 0.74. Otter Tail has a 1 year low of $35.90 and a 1 year high of $48.65.
Otter Tail (NASDAQ:OTTR) last posted its quarterly earnings data on Monday, February 12th. The utilities provider reported $0.50 EPS for the quarter, topping analysts’ consensus estimates of $0.44 by $0.06. The company had revenue of $206.70 million for the quarter, compared to analyst estimates of $207.30 million. Otter Tail had a return on equity of 10.73% and a net margin of 8.53%. The business’s revenue was up 5.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.44 earnings per share. equities research analysts anticipate that Otter Tail will post 1.9 EPS for the current fiscal year.
In other Otter Tail news, CFO Kevin G. Moug sold 1,500 shares of the business’s 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 document filed with the SEC, which is available at this link. 1.70% of the stock is currently owned by insiders.
Institutional investors and hedge funds have recently modified their holdings of the company. Stifel Financial Corp lifted its stake in shares of Otter Tail by 6.8% during the third quarter. Stifel Financial Corp now owns 235,649 shares of the utilities provider’s stock valued at $10,231,000 after acquiring an additional 14,903 shares during the period. Wells Fargo & Company MN lifted its stake in shares of Otter Tail by 63.7% during the third quarter. Wells Fargo & Company MN now owns 73,686 shares of the utilities provider’s stock valued at $3,194,000 after acquiring an additional 28,678 shares during the period. Old Mutual Global Investors UK Ltd. lifted its stake in shares of Otter Tail by 28.4% during the fourth quarter. Old Mutual Global Investors UK Ltd. now owns 8,011 shares of the utilities provider’s stock valued at $356,000 after acquiring an additional 1,771 shares during the period. Victory Capital Management Inc. lifted its stake in shares of Otter Tail by 20.9% during the third quarter. Victory Capital Management Inc. now owns 23,982 shares of the utilities provider’s stock valued at $1,040,000 after acquiring an additional 4,141 shares during the period. Finally, NorthRock Partners LLC acquired a new position in shares of Otter Tail during the fourth quarter valued at $425,000. 42.02% of the stock is currently owned by institutional investors and hedge funds.
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Otter Tail Company Profile
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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