BidaskClub upgraded shares of Otter Tail (NASDAQ:OTTR) from a sell rating to a hold rating in a research report report published on Tuesday morning.
Other equities research analysts also recently issued research reports about the stock. ValuEngine raised shares of Otter Tail from a hold rating to a buy rating in a research note on Wednesday, June 20th. Zacks Investment Research downgraded shares of Otter Tail from a buy rating to a hold rating in a research note on Wednesday, July 11th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company’s stock. Otter Tail currently has an average rating of Hold and an average target price of $45.67.
Shares of NASDAQ:OTTR opened at $45.18 on Tuesday. Otter Tail has a 52 week low of $39.00 and a 52 week high of $49.75. The company has a quick ratio of 0.90, a current ratio of 1.44 and a debt-to-equity ratio of 0.83. The company has a market capitalization of $1.90 billion, a price-to-earnings ratio of 24.74 and a beta of 0.53.
Otter Tail (NASDAQ:OTTR) last issued its earnings results on Monday, August 6th. The utilities provider reported $0.47 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.47. Otter Tail had a net margin of 9.09% and a return on equity of 11.74%. The firm had revenue of $226.30 million during the quarter, compared to the consensus estimate of $224.80 million. During the same quarter in the prior year, the firm earned $0.42 earnings per share. The business’s quarterly revenue was up 6.7% on a year-over-year basis. On average, research analysts anticipate that Otter Tail will post 2 EPS for the current year.
Several hedge funds have recently modified their holdings of OTTR. Wells Fargo & Company MN increased its position in shares of Otter Tail by 264.6% during the first quarter. Wells Fargo & Company MN now owns 338,997 shares of the utilities provider’s stock worth $14,695,000 after acquiring an additional 246,030 shares in the last quarter. BlackRock Inc. increased its position in shares of Otter Tail by 5.3% during the second quarter. BlackRock Inc. now owns 2,680,981 shares of the utilities provider’s stock worth $127,615,000 after acquiring an additional 135,824 shares in the last quarter. Cornerstone Wealth Management LLC bought a new stake in shares of Otter Tail during the second quarter worth $1,000,000. Renaissance Technologies LLC increased its position in shares of Otter Tail by 3.1% during the second quarter. Renaissance Technologies LLC now owns 873,500 shares of the utilities provider’s stock worth $41,579,000 after acquiring an additional 25,990 shares in the last quarter. Finally, Citadel Advisors LLC increased its position in shares of Otter Tail by 350.8% during the second quarter. Citadel Advisors LLC now owns 31,912 shares of the utilities provider’s stock worth $1,519,000 after acquiring an additional 24,833 shares in the last quarter. 42.74% of the stock is owned by institutional investors.
About Otter Tail
Otter Tail Corporation, together with its subsidiaries, engages in electric, manufacturing, and plastics businesses in the United States. The company's Electric segment produces, transmits, distributes, and sells electric energy in Minnesota, North Dakota, and South Dakota; and operates as a participant in the Midcontinent Independent System Operator, Inc markets.
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