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.
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.
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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