Otter Tail (NASDAQ:OTTR) was upgraded by analysts at BidaskClub from a “sell” rating to a “hold” rating in a report released on Thursday, March 15th.
Several other equities research analysts have also commented on OTTR. Zacks Investment Research lowered shares of Otter Tail from a “buy” rating to a “hold” rating in a research report on Thursday, January 4th. Sidoti lowered shares of Otter Tail from a “buy” rating to a “neutral” rating and set a $46.00 price target for the company. in a research report on Monday, January 8th. Finally, Williams Capital reissued a “hold” rating and issued a $42.00 target price (up from $41.00) on shares of Otter Tail in a report on Thursday, February 15th. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $44.33.
NASDAQ OTTR opened at $43.55 on Thursday. Otter Tail has a 52 week low of $36.45 and a 52 week high of $48.65. The stock has a market cap of $1,745.55, a PE ratio of 23.41 and a beta of 0.63. The company has a quick ratio of 0.59, a current ratio of 0.93 and a debt-to-equity ratio of 0.70.
Otter Tail (NASDAQ:OTTR) last released its quarterly earnings results on Monday, February 12th. The utilities provider reported $0.50 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.44 by $0.06. Otter Tail had a net margin of 8.53% and a return on equity of 10.73%. The firm had revenue of $206.70 million during the quarter, compared to analyst estimates of $207.30 million. During the same quarter in the prior year, the firm earned $0.44 EPS. The business’s revenue for the quarter was up 5.1% compared to the same quarter last year. sell-side analysts forecast that Otter Tail will post 1.9 EPS for the current fiscal year.
In related news, CFO Kevin G. Moug sold 1,500 shares of the stock in a transaction that occurred on Thursday, February 15th. The shares were 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 Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 1.70% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the stock. Ameriprise Financial Inc. grew its holdings in Otter Tail by 8.8% during the 2nd quarter. Ameriprise Financial Inc. now owns 6,989 shares of the utilities provider’s stock valued at $277,000 after buying an additional 565 shares in the last quarter. Sei Investments Co. grew its holdings in Otter Tail by 17.4% during the 3rd quarter. Sei Investments Co. now owns 8,414 shares of the utilities provider’s stock valued at $364,000 after buying an additional 1,244 shares in the last quarter. Victory Capital Management Inc. grew its holdings in Otter Tail by 6.5% during the 4th quarter. Victory Capital Management Inc. now owns 25,529 shares of the utilities provider’s stock valued at $1,135,000 after buying an additional 1,547 shares in the last quarter. Old Mutual Global Investors UK Ltd. grew its holdings in Otter Tail by 28.4% during the 4th quarter. Old Mutual Global Investors UK Ltd. now owns 8,011 shares of the utilities provider’s stock valued at $356,000 after buying an additional 1,771 shares in the last quarter. Finally, American International Group Inc. grew its holdings in Otter Tail by 8.1% during the 3rd quarter. American International Group Inc. now owns 26,378 shares of the utilities provider’s stock valued at $1,143,000 after buying an additional 1,972 shares in the last quarter. 42.02% of the stock is owned by 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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