Otter Tail Corporation (NASDAQ:OTTR) Stock Rating Reaffirmed by KeyCorp

KeyCorp restated their hold rating on shares of Otter Tail Corporation (NASDAQ:OTTR) in a report released on Friday, October 20th. KeyCorp also issued estimates for Otter Tail Corporation’s Q3 2017 earnings at $0.39 EPS.

OTTR has been the subject of several other reports. Zacks Investment Research downgraded Otter Tail Corporation from a buy rating to a hold rating in a report on Thursday, August 31st. BidaskClub raised Otter Tail Corporation from a sell rating to a hold rating in a research report on Monday, July 31st. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Otter Tail Corporation has an average rating of Hold and a consensus target price of $43.33.

Shares of Otter Tail Corporation (NASDAQ OTTR) opened at 46.90 on Friday. The stock’s 50 day moving average is $44.37 and its 200 day moving average is $41.17. The stock has a market cap of $1.86 billion, a P/E ratio of 27.00 and a beta of 0.78. Otter Tail Corporation has a 12 month low of $33.45 and a 12 month high of $47.00.

Otter Tail Corporation (NASDAQ:OTTR) last released its quarterly earnings data on Monday, August 7th. The utilities provider reported $0.42 EPS for the quarter, beating analysts’ consensus estimates of $0.41 by $0.01. The business had revenue of $212.10 million during the quarter, compared to the consensus estimate of $211.30 million. Otter Tail Corporation had a return on equity of 10.14% and a net margin of 8.35%. The firm’s revenue was up 4.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.41 earnings per share. Analysts predict that Otter Tail Corporation will post $1.75 earnings per share for the current fiscal year.

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In related news, CFO Kevin G. Moug sold 1,500 shares of the stock in a transaction that occurred on Wednesday, August 16th. The stock was sold at an average price of $41.75, for a total transaction of $62,625.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.40% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Old Mutual Global Investors UK Ltd. acquired a new stake in shares of Otter Tail Corporation in the second quarter valued at approximately $107,000. North Star Investment Management Corp. lifted its position in shares of Otter Tail Corporation by 91.9% in the second quarter. North Star Investment Management Corp. now owns 2,905 shares of the utilities provider’s stock valued at $115,000 after buying an additional 1,391 shares during the last quarter. Ameritas Investment Partners Inc. acquired a new stake in shares of Otter Tail Corporation in the first quarter valued at approximately $119,000. Sei Investments Co. lifted its position in shares of Otter Tail Corporation by 8.3% in the first quarter. Sei Investments Co. now owns 3,574 shares of the utilities provider’s stock valued at $136,000 after buying an additional 274 shares during the last quarter. Finally, C M Bidwell & Associates Ltd. acquired a new stake in shares of Otter Tail Corporation in the second quarter valued at approximately $173,000. 40.51% of the stock is owned by institutional investors.

About Otter Tail Corporation

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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