Otter Tail (OTTR) Raised to Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of Otter Tail (NASDAQ:OTTR) from a hold rating to a buy rating in a research report report published on Saturday morning. The brokerage currently has $47.00 price target on the utilities provider’s stock.

According to Zacks, “OTTER TAIL’s primary business is the production, transmission, distribution and sale of electric energy. The Company, through its subsidiaries, is also engaged in other businesses which are referred to as Health Services Operations and Diversified Operations. “

Several other equities research analysts also recently weighed in on OTTR. BidaskClub raised Otter Tail from a strong sell rating to a sell rating in a research report on Wednesday, January 31st. Sidoti downgraded Otter Tail from a buy rating to a neutral rating and set a $46.00 target price for the company. in a research report on Monday, January 8th. 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, three have given a hold rating and one has given a buy rating to the company’s stock. Otter Tail presently has a consensus rating of Hold and a consensus target price of $43.00.

Shares of Otter Tail (NASDAQ OTTR) opened at $40.40 on Friday. Otter Tail has a 1 year low of $35.65 and a 1 year high of $48.65. The company has a quick ratio of 0.61, a current ratio of 0.93 and a debt-to-equity ratio of 0.71. The firm has a market capitalization of $1,600.00, a PE ratio of 22.44 and a beta of 0.71.

In related news, VP George A. Koeck sold 3,000 shares of the stock in a transaction dated Wednesday, November 15th. The stock was sold at an average price of $46.50, for a total value of $139,500.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 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 value of $69,750.00. The disclosure for this sale can be found here. Insiders sold 6,900 shares of company stock valued at $318,570 in the last three months. 1.40% of the stock is currently owned by company insiders.

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Victory Capital Management Inc. boosted its holdings in Otter Tail by 6.5% in the fourth quarter. Victory Capital Management Inc. now owns 25,529 shares of the utilities provider’s stock valued at $1,135,000 after purchasing an additional 1,547 shares during the last quarter. Chicago Equity Partners LLC boosted its holdings in Otter Tail by 71.4% in the fourth quarter. Chicago Equity Partners LLC now owns 62,770 shares of the utilities provider’s stock valued at $2,790,000 after purchasing an additional 26,145 shares during the last quarter. Assenagon Asset Management S.A. purchased a new position in Otter Tail in the fourth quarter valued at about $3,355,000. Livingston Group Asset Management CO operating as Southport Capital Management bought a new position in Otter Tail during the 4th quarter worth approximately $478,000. Finally, Acadian Asset Management LLC lifted its holdings in Otter Tail by 24.9% during the 4th quarter. Acadian Asset Management LLC now owns 28,535 shares of the utilities provider’s stock worth $1,269,000 after buying an additional 5,693 shares during the last quarter. 41.19% 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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