Otter Tail (NASDAQ:OTTR) Stock Rating Upgraded by ValuEngine

Otter Tail (NASDAQ:OTTR) was upgraded by analysts at ValuEngine from a “hold” rating to a “buy” rating in a research note issued on Wednesday, ValuEngine reports.

OTTR has been the topic of several other reports. Williams Capital upgraded shares of Otter Tail from a “sell” rating to a “hold” rating in a research note on Wednesday, November 6th. Sidoti assumed coverage on shares of Otter Tail in a research note on Thursday, November 21st. They issued a “neutral” rating and a $54.00 price target on the stock. BidaskClub lowered shares of Otter Tail from a “hold” rating to a “sell” rating in a research note on Tuesday, December 3rd. Finally, Siebert Williams Shank upgraded shares of Otter Tail from a “sell” rating to a “hold” rating and increased their price target for the company from $45.00 to $48.00 in a research note on Wednesday, November 6th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $54.50.

Shares of NASDAQ:OTTR opened at $49.88 on Wednesday. The stock has a market cap of $1.97 billion, a price-to-earnings ratio of 24.21, a price-to-earnings-growth ratio of 3.30 and a beta of 0.28. Otter Tail has a fifty-two week low of $45.94 and a fifty-two week high of $57.74. 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’s 50 day moving average price is $51.17 and its 200 day moving average price is $52.07.

Otter Tail (NASDAQ:OTTR) last announced its quarterly earnings results on Monday, November 4th. The utilities provider reported $0.62 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.64 by ($0.02). The company had revenue of $228.70 million during the quarter, compared to analysts’ expectations of $240.30 million. Otter Tail had a net margin of 8.72% and a return on equity of 10.86%. The business’s revenue for the quarter was up .4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.58 earnings per share. On average, equities analysts anticipate that Otter Tail will post 2.15 EPS for the current year.

In other news, Director John D. Erickson sold 2,100 shares of the firm’s stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $48.81, for a total transaction of $102,501.00. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 1.70% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in OTTR. Nuveen Asset Management LLC purchased a new position in shares of Otter Tail during the second quarter worth approximately $13,942,000. First Trust Advisors LP grew its position in shares of Otter Tail by 15.8% during the third quarter. First Trust Advisors LP now owns 786,566 shares of the utilities provider’s stock worth $42,278,000 after acquiring an additional 107,372 shares during the last quarter. Los Angeles Capital Management & Equity Research Inc. grew its position in shares of Otter Tail by 413.6% during the second quarter. Los Angeles Capital Management & Equity Research Inc. now owns 56,625 shares of the utilities provider’s stock worth $2,990,000 after acquiring an additional 45,600 shares during the last quarter. Foundry Partners LLC grew its position in shares of Otter Tail by 378.2% during the third quarter. Foundry Partners LLC now owns 45,234 shares of the utilities provider’s stock worth $2,431,000 after acquiring an additional 35,774 shares during the last quarter. Finally, California Public Employees Retirement System grew its position in shares of Otter Tail by 54.5% during the third quarter. California Public Employees Retirement System now owns 97,669 shares of the utilities provider’s stock worth $5,250,000 after acquiring an additional 34,459 shares during the last quarter. Institutional investors and hedge funds 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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