OTTR has been the subject of several other research reports. Sidoti began coverage on Otter Tail in a research note on Thursday, November 21st. They issued a neutral rating and a $54.00 price target for the company. ValuEngine cut shares of Otter Tail from a buy rating to a hold rating in a research note on Friday, January 3rd. KeyCorp assumed coverage on shares of Otter Tail in a research report on Monday, December 16th. They issued an overweight rating and a $54.00 target price for the company. Williams Capital upgraded shares of Otter Tail from a sell rating to a hold rating in a research note on Wednesday, November 6th. Finally, Siebert Williams Shank upgraded shares of Otter Tail from a sell rating to a hold rating and raised their price target for the company from $45.00 to $48.00 in a report on Wednesday, November 6th. Six equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Otter Tail has a consensus rating of Hold and an average target price of $54.60.
Shares of Otter Tail stock opened at $53.64 on Friday. The company has a quick ratio of 0.56, a current ratio of 0.94 and a debt-to-equity ratio of 0.80. The firm has a market cap of $2.13 billion, a price-to-earnings ratio of 26.55 and a beta of 0.30. The business has a fifty day simple moving average of $51.06 and a 200-day simple moving average of $52.10. Otter Tail has a fifty-two week low of $46.63 and a fifty-two week high of $57.74.
Otter Tail (NASDAQ:OTTR) last announced its earnings results on Monday, November 4th. The utilities provider reported $0.62 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.64 by ($0.02). The firm had revenue of $228.70 million for the quarter, compared to the consensus estimate of $240.30 million. Otter Tail had a net margin of 8.72% and a return on equity of 10.86%. The company’s quarterly revenue was up .4% compared to the same quarter last year. During the same period in the prior year, the business earned $0.58 EPS. Analysts anticipate that Otter Tail will post 2.18 earnings per share for the current fiscal year.
In other Otter Tail news, Director John D. Erickson sold 2,100 shares of the business’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $48.81, for a total value of $102,501.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 1.70% of the stock is owned by insiders.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Nuveen Asset Management LLC bought a new stake in Otter Tail during the second quarter worth approximately $13,942,000. First Trust Advisors LP lifted its stake in shares of Otter Tail by 15.8% in the third quarter. First Trust Advisors LP now owns 786,566 shares of the utilities provider’s stock worth $42,278,000 after buying an additional 107,372 shares during the last quarter. Foundry Partners LLC lifted its stake in shares of Otter Tail by 378.2% in the third quarter. Foundry Partners LLC now owns 45,234 shares of the utilities provider’s stock worth $2,431,000 after buying an additional 35,774 shares during the last quarter. California Public Employees Retirement System boosted its holdings in shares of Otter Tail by 54.5% during the 3rd quarter. California Public Employees Retirement System now owns 97,669 shares of the utilities provider’s stock worth $5,250,000 after buying an additional 34,459 shares during the period. Finally, Man Group plc bought a new stake in shares of Otter Tail during the 2nd quarter worth $1,463,000. Institutional investors own 44.72% of the company’s stock.
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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