BidaskClub Lowers Otter Tail (OTTR) to Sell

BidaskClub lowered shares of Otter Tail (NASDAQ:OTTR) from a hold rating to a sell rating in a research note released on Friday morning.

Several other equities analysts also recently weighed in on the stock. KeyCorp reaffirmed a hold rating on shares of Otter Tail in a report on Friday, October 20th. Zacks Investment Research raised shares of Otter Tail from a hold rating to a buy rating and set a $47.00 price target on the stock in a report on Friday, September 15th. One equities research analyst has rated the stock with a sell rating and four have assigned a hold rating to the stock. The company currently has a consensus rating of Hold and a consensus price target of $44.67.

Otter Tail (OTTR) traded down $0.40 on Friday, hitting $42.40. 98,400 shares of the company were exchanged, compared to its average volume of 79,580. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.61 and a current ratio of 0.93. The stock has a market capitalization of $1,680.00, a P/E ratio of 23.56 and a beta of 0.82. Otter Tail has a one year low of $35.65 and a one year high of $48.65.

Otter Tail (NASDAQ:OTTR) last posted its quarterly earnings data on Wednesday, November 1st. The utilities provider reported $0.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.39 by $0.06. The company had revenue of $216.50 million for the quarter, compared to the consensus estimate of $201.70 million. Otter Tail had a net margin of 8.53% and a return on equity of 10.47%. The firm’s revenue was up 9.8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.37 earnings per share. research analysts predict that Otter Tail will post 1.8 EPS for the current fiscal year.

In other Otter Tail news, VP George A. Koeck sold 3,000 shares of the stock in a transaction dated Wednesday, November 15th. The shares were sold at an average price of $46.50, for a total transaction of $139,500.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Kevin G. Moug sold 1,500 shares of the stock in a transaction dated Wednesday, November 15th. The shares were sold at an average price of $46.50, for a total transaction of $69,750.00. The disclosure for this sale can be found here. Insiders sold 6,900 shares of company stock worth $318,570 in the last 90 days. 1.40% of the stock is currently owned by company insiders.

Several institutional investors and hedge funds have recently bought and sold shares of OTTR. Stifel Financial Corp purchased a new position in Otter Tail in the 2nd quarter valued at $8,762,000. Renaissance Technologies LLC raised its stake in Otter Tail by 29.7% during the 2nd quarter. Renaissance Technologies LLC now owns 555,510 shares of the utilities provider’s stock valued at $21,998,000 after acquiring an additional 127,110 shares in the last quarter. Vanguard Group Inc. raised its stake in Otter Tail by 2.2% during the 2nd quarter. Vanguard Group Inc. now owns 3,507,682 shares of the utilities provider’s stock valued at $138,904,000 after acquiring an additional 74,533 shares in the last quarter. Northern Trust Corp increased its position in shares of Otter Tail by 8.3% during the 2nd quarter. Northern Trust Corp now owns 956,660 shares of the utilities provider’s stock valued at $37,885,000 after purchasing an additional 72,974 shares during the period. Finally, 361 Capital LLC acquired a new position in shares of Otter Tail during the 3rd quarter valued at $2,038,000. Hedge funds and other institutional investors own 41.02% of the company’s stock.

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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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