Otter Tail (NASDAQ:OTTR – Get Rating) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Wednesday.
Separately, Zacks Investment Research lowered Otter Tail from a “buy” rating to a “hold” rating in a report on Tuesday, December 21st. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, Otter Tail currently has a consensus rating of “Hold” and an average target price of $70.67.
Otter Tail stock opened at $62.78 on Wednesday. The firm has a market cap of $2.61 billion, a price-to-earnings ratio of 14.84 and a beta of 0.49. The stock has a fifty day simple moving average of $62.11 and a two-hundred day simple moving average of $63.71. Otter Tail has a 12 month low of $45.78 and a 12 month high of $71.89. The company has a current ratio of 0.95, a quick ratio of 0.57 and a debt-to-equity ratio of 0.74.
Otter Tail (NASDAQ:OTTR – Get Rating) last posted its earnings results on Monday, February 14th. The utilities provider reported $1.23 EPS for the quarter, topping the Zacks’ consensus estimate of $1.19 by $0.04. The business had revenue of $333.23 million during the quarter, compared to analyst estimates of $302.70 million. Otter Tail had a return on equity of 18.87% and a net margin of 14.77%. During the same quarter last year, the company earned $0.45 EPS. On average, equities research analysts forecast that Otter Tail will post 3.91 EPS for the current fiscal year.
Institutional investors have recently made changes to their positions in the company. Moors & Cabot Inc. bought a new stake in shares of Otter Tail in the third quarter worth about $218,000. BlackRock Inc. increased its stake in Otter Tail by 3.5% during the fourth quarter. BlackRock Inc. now owns 2,994,269 shares of the utilities provider’s stock worth $213,852,000 after acquiring an additional 101,259 shares during the last quarter. Millennium Management LLC increased its stake in Otter Tail by 32.2% during the third quarter. Millennium Management LLC now owns 190,507 shares of the utilities provider’s stock worth $10,663,000 after acquiring an additional 46,373 shares during the last quarter. EAM Global Investors LLC bought a new stake in Otter Tail during the third quarter worth approximately $2,231,000. Finally, CWM LLC bought a new stake in Otter Tail during the fourth quarter worth approximately $2,410,000. Institutional investors and hedge funds own 47.07% of the company’s stock.
Otter Tail Company Profile
Otter Tail Corporation, together with its subsidiaries, engages in electric utility, manufacturing, and plastic pipe 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.