Otter Tail Corp. (OTTR) Given Average Rating of “Hold” by Analysts
Shares of Otter Tail Corp. (NASDAQ:OTTR) have been assigned an average broker rating score of 3.00 (Hold) from the one analysts that cover the stock, Zacks Investment Research reports. One equities research analyst has rated the stock with a hold recommendation.
Zacks has also assigned Otter Tail Corp. an industry rank of 183 out of 265 based on the ratings given to related companies.
Separately, Zacks Investment Research lowered Otter Tail Corp. from a “buy” rating to a “hold” rating in a research report on Tuesday, September 20th.
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Shares of Otter Tail Corp. (NASDAQ:OTTR) traded up 1.11% during mid-day trading on Wednesday, reaching $33.72. 41,982 shares of the company’s stock traded hands. The company has a market capitalization of $1.31 billion, a P/E ratio of 21.22 and a beta of 0.67. The firm has a 50-day moving average price of $34.67 and a 200-day moving average price of $32.28. Otter Tail Corp. has a 1-year low of $25.20 and a 1-year high of $36.42.
Otter Tail Corp. (NASDAQ:OTTR) last issued its quarterly earnings results on Monday, August 8th. The company reported $0.41 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.38 by $0.03. Otter Tail Corp. had a return on equity of 9.98% and a net margin of 7.53%. The company had revenue of $203.50 million for the quarter, compared to analyst estimates of $194 million. During the same quarter last year, the company posted $0.36 EPS. The company’s revenue for the quarter was up 8.1% compared to the same quarter last year. On average, equities research analysts forecast that Otter Tail Corp. will post $1.60 earnings per share for the current fiscal year.
In related news, CFO Kevin G. Moug sold 800 shares of the business’s stock in a transaction on Tuesday, August 16th. The stock was sold at an average price of $34.07, for a total transaction of $27,256.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP Paul L. Knutson sold 1,700 shares of the business’s stock in a transaction on Thursday, August 11th. The stock was sold at an average price of $34.50, for a total value of $58,650.00. The disclosure for this sale can be found here. Corporate insiders own 1.60% of the company’s stock.
Large investors have recently modified their holdings of the company. Vanguard Group Inc. raised its stake in shares of Otter Tail Corp. by 8.8% in the second quarter. Vanguard Group Inc. now owns 3,039,645 shares of the company’s stock worth $101,797,000 after buying an additional 244,991 shares in the last quarter. Gabelli Funds LLC increased its position in shares of Otter Tail Corp. by 0.7% in the second quarter. Gabelli Funds LLC now owns 1,142,251 shares of the company’s stock valued at $38,254,000 after buying an additional 7,500 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Otter Tail Corp. by 4.3% in the second quarter. Dimensional Fund Advisors LP now owns 1,093,804 shares of the company’s stock valued at $36,630,000 after buying an additional 45,088 shares during the last quarter. BlackRock Institutional Trust Company N.A. increased its position in shares of Otter Tail Corp. by 1.4% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 998,456 shares of the company’s stock valued at $29,574,000 after buying an additional 13,515 shares during the last quarter. Finally, BlackRock Fund Advisors increased its position in shares of Otter Tail Corp. by 2.5% in the second quarter. BlackRock Fund Advisors now owns 902,388 shares of the company’s stock valued at $30,221,000 after buying an additional 22,410 shares during the last quarter. Institutional investors and hedge funds own 35.94% of the company’s stock.
About Otter Tail Corp.
Otter Tail Corporation is a holding company. The Company, through its subsidiaries, operates through three segments: Electric, Manufacturing and Plastics. The Company’s subsidiaries own facilities and equipment used in the manufacture of producing polyvinyl chloride (PVC) pipe, thermoformed products, heavy metal fabricated products, metal parts stamping, fabricating, painting and contract machining.
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