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

BidaskClub upgraded shares of Otter Tail (NASDAQ:OTTR) from a sell rating to a hold rating in a research note issued to investors on Thursday, BidAskClub reports.

Several other equities research analysts also recently weighed in on the company. Maxim Group reissued a buy rating and issued a $50.00 price target on shares of Otter Tail in a report on Thursday, August 6th. Sidoti upgraded shares of Otter Tail from a neutral rating to a buy rating and lifted their target price for the stock from $41.00 to $45.00 in a research note on Wednesday, August 5th. TheStreet downgraded shares of Otter Tail from a b- rating to a c+ rating in a research report on Thursday, July 9th. Finally, Zacks Investment Research upgraded shares of Otter Tail from a strong sell rating to a hold rating in a research note on Tuesday, July 28th. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock has an average rating of Hold and an average target price of $49.50.

Shares of Otter Tail stock opened at $40.83 on Thursday. The company has a quick ratio of 0.76, a current ratio of 1.15 and a debt-to-equity ratio of 0.88. The company has a market cap of $1.67 billion, a P/E ratio of 18.99 and a beta of 0.35. The firm’s 50 day moving average price is $37.65 and its 200-day moving average price is $40.15. Otter Tail has a 52-week low of $30.95 and a 52-week high of $57.74.

Otter Tail (NASDAQ:OTTR) last issued its quarterly earnings results on Monday, August 3rd. The utilities provider reported $0.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.32 by $0.10. The business had revenue of $192.76 million for the quarter, compared to the consensus estimate of $204.93 million. Otter Tail had a return on equity of 10.93% and a net margin of 9.90%. The business’s quarterly revenue was down 15.9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.39 earnings per share. As a group, equities research analysts forecast that Otter Tail will post 2.26 EPS for the current fiscal year.

Institutional investors and hedge funds have recently bought and sold shares of the business. Advisor Group Holdings Inc. purchased a new stake in shares of Otter Tail in the 1st quarter valued at $1,057,000. AQR Capital Management LLC boosted its holdings in Otter Tail by 139.9% in the first quarter. AQR Capital Management LLC now owns 35,630 shares of the utilities provider’s stock valued at $1,584,000 after purchasing an additional 20,780 shares during the last quarter. First Trust Advisors LP grew its position in Otter Tail by 30.0% during the 2nd quarter. First Trust Advisors LP now owns 1,194,474 shares of the utilities provider’s stock worth $46,334,000 after purchasing an additional 275,789 shares during the period. Prudential Financial Inc. raised its stake in shares of Otter Tail by 1,521.4% during the 2nd quarter. Prudential Financial Inc. now owns 95,340 shares of the utilities provider’s stock valued at $3,698,000 after buying an additional 89,460 shares during the last quarter. Finally, Bank of America Corp DE lifted its holdings in shares of Otter Tail by 48.0% in the 2nd quarter. Bank of America Corp DE now owns 95,570 shares of the utilities provider’s stock valued at $3,707,000 after buying an additional 30,981 shares during the period. 46.10% 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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Analyst Recommendations for Otter Tail (NASDAQ:OTTR)

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