Zacks: Otter Tail Co. (OTTR) Given $42.00 Average Target Price by Analysts
Otter Tail Co. (NASDAQ:OTTR) has been given an average broker rating score of 2.33 (Buy) from the three brokers that provide coverage for the company, Zacks Investment Research reports. Two investment analysts have rated the stock with a hold recommendation and one has issued a strong buy recommendation on the company. Otter Tail’s rating score has improved by 22.3% in the last 90 days as a result of a number of analysts’ upgrades and downgrades.
Brokerages have set a one year consensus price target of $42.00 for the company and are predicting that the company will post $0.40 earnings per share for the current quarter, according to Zacks. Zacks has also given Otter Tail an industry rank of 173 out of 265 based on the ratings given to related companies.
OTTR has been the subject of a number of recent analyst reports. Williams Capital initiated coverage on Otter Tail in a research report on Monday, February 6th. They set a “hold” rating and a $36.00 price objective for the company. Sidoti upgraded Otter Tail from a “neutral” rating to a “buy” rating and set a $46.00 target price for the company in a report on Friday, March 24th. Finally, Zacks Investment Research cut Otter Tail from a “hold” rating to a “sell” rating in a report on Tuesday, April 11th.
In related news, CFO Kevin G. Moug sold 800 shares of Otter Tail stock in a transaction that occurred on Monday, May 15th. The stock was sold at an average price of $37.25, for a total value of $29,800.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP George A. Koeck sold 4,000 shares of Otter Tail stock in a transaction that occurred on Monday, March 13th. The shares were sold at an average price of $36.30, for a total value of $145,200.00. The disclosure for this sale can be found here. Insiders own 1.60% of the company’s stock.
Several hedge funds have recently bought and sold shares of OTTR. Ameritas Investment Partners Inc. purchased a new stake in Otter Tail during the first quarter worth approximately $119,000. Sei Investments Co. increased its stake in Otter Tail by 8.3% in the first quarter. Sei Investments Co. now owns 3,574 shares of the utilities provider’s stock worth $136,000 after buying an additional 274 shares during the last quarter. SG Americas Securities LLC purchased a new stake in Otter Tail during the first quarter worth approximately $213,000. Campbell & CO Investment Adviser LLC purchased a new stake in Otter Tail during the first quarter worth approximately $214,000. Finally, Eqis Capital Management Inc. purchased a new stake in Otter Tail during the first quarter worth approximately $277,000. Hedge funds and other institutional investors own 37.58% of the company’s stock.
Shares of Otter Tail (NASDAQ:OTTR) opened at 39.50 on Thursday. The stock’s 50 day moving average is $38.37 and its 200 day moving average is $38.32. The company has a market cap of $1.56 billion, a PE ratio of 22.98 and a beta of 0.76. Otter Tail has a 52-week low of $27.77 and a 52-week high of $42.55.
Otter Tail (NASDAQ:OTTR) last posted its quarterly earnings data on Monday, May 1st. The utilities provider reported $0.49 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.43 by $0.06. Otter Tail had a return on equity of 9.76% and a net margin of 7.76%. The firm had revenue of $214.10 million during the quarter, compared to the consensus estimate of $211.80 million. During the same period in the prior year, the company earned $0.38 EPS. The firm’s revenue was up 3.8% compared to the same quarter last year. Equities analysts forecast that Otter Tail will post $1.71 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Saturday, June 10th. Shareholders of record on Monday, May 15th will be given a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 3.24%. The ex-dividend date of this dividend is Thursday, May 11th. Otter Tail’s dividend payout ratio (DPR) is 80.00%.
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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