Otter Tail (OTTR) Stock Rating Lowered by Sidoti

Sidoti lowered shares of Otter Tail (NASDAQ:OTTR) from a buy rating to a neutral rating in a research report released on Monday, MarketBeat Ratings reports. Sidoti currently has $46.00 price target on the utilities provider’s stock.

Several other research analysts have also issued reports on the company. BidaskClub lowered Otter Tail from a hold rating to a sell rating in a research report on Friday, January 5th. Zacks Investment Research lowered Otter Tail from a buy rating to a hold rating in a research report on Thursday, January 4th. Finally, KeyCorp reaffirmed a hold rating on shares of Otter Tail in a research report on Friday, October 20th. One investment analyst has rated the stock with a sell rating and four have assigned a hold rating to the stock. The company presently has an average rating of Hold and an average target price of $44.67.

Otter Tail (OTTR) traded up $0.70 during midday trading on Monday, hitting $41.50. The company had a trading volume of 82,400 shares, compared to its average volume of 93,063. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.61 and a current ratio of 0.93. Otter Tail has a 12 month low of $35.65 and a 12 month high of $48.65. The firm has a market cap of $1,610.00, a P/E ratio of 23.06 and a beta of 0.82.

Otter Tail (NASDAQ:OTTR) last released its quarterly earnings data on Wednesday, November 1st. The utilities provider reported $0.45 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.39 by $0.06. Otter Tail had a return on equity of 10.34% and a net margin of 8.21%. The company had revenue of $216.50 million for the quarter, compared to the consensus estimate of $201.70 million. During the same quarter last year, the business posted $0.37 EPS. Otter Tail’s revenue for the quarter was up 9.8% on a year-over-year basis. equities research analysts anticipate that Otter Tail will post 1.8 EPS for the current year.

In other news, CFO Kevin G. Moug sold 1,500 shares of Otter Tail stock in a transaction dated Wednesday, November 15th. The stock was sold at an average price of $46.50, for a total value of $69,750.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John D. Erickson sold 2,400 shares of Otter Tail stock in a transaction dated Monday, November 20th. The stock was sold at an average price of $45.55, for a total value of $109,320.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 6,900 shares of company stock valued at $318,570. 1.40% of the stock is owned by corporate insiders.

Several hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. raised its position in shares of Otter Tail by 2.2% in the 2nd quarter. Vanguard Group Inc. now owns 3,507,682 shares of the utilities provider’s stock worth $138,904,000 after acquiring an additional 74,533 shares in the last quarter. BlackRock Inc. raised its position in shares of Otter Tail by 0.9% in the 2nd quarter. BlackRock Inc. now owns 2,498,815 shares of the utilities provider’s stock worth $98,953,000 after acquiring an additional 21,440 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Otter Tail by 3.0% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,158,720 shares of the utilities provider’s stock worth $50,232,000 after acquiring an additional 33,584 shares in the last quarter. Northern Trust Corp raised its position in shares of Otter Tail by 8.3% in the 2nd quarter. Northern Trust Corp now owns 956,660 shares of the utilities provider’s stock worth $37,885,000 after acquiring an additional 72,974 shares in the last quarter. Finally, State Street Corp raised its position in shares of Otter Tail by 5.1% in the 2nd quarter. State Street Corp now owns 809,030 shares of the utilities provider’s stock worth $32,041,000 after acquiring an additional 38,942 shares in the last quarter. 41.02% of the stock is owned by hedge funds and other institutional investors.

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Otter Tail Company Profile

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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