Brokerages Set $43.50 Price Target for Otter Tail Corporation (NASDAQ:OTTR)
Shares of Otter Tail Corporation (NASDAQ:OTTR) have been assigned a consensus broker rating score of 2.33 (Buy) from the three brokers that provide coverage for the stock, Zacks Investment Research reports. Two equities research analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the company.
Analysts have set a one year consensus target price of $43.50 for the company and are forecasting that the company will post $0.40 EPS for the current quarter, according to Zacks. Zacks has also given Otter Tail Corporation an industry rank of 101 out of 265 based on the ratings given to its competitors.
Several analysts recently commented on the stock. BidaskClub cut shares of Otter Tail Corporation from a “buy” rating to a “hold” rating in a report on Thursday, June 22nd. Zacks Investment Research upgraded shares of Otter Tail Corporation from a “sell” rating to a “hold” rating in a report on Wednesday, July 5th. Finally, Sidoti upgraded shares of Otter Tail Corporation from a “neutral” rating to a “buy” rating and set a $46.00 price target for the company in a report on Friday, March 24th.
Shares of Otter Tail Corporation (NASDAQ:OTTR) traded up 0.26% during trading on Tuesday, hitting $39.20. 83,647 shares of the company traded hands. The stock has a market cap of $1.55 billion, a price-to-earnings ratio of 22.80 and a beta of 0.79. The firm has a 50 day moving average price of $39.85 and a 200-day moving average price of $38.83. Otter Tail Corporation has a one year low of $32.89 and a one year high of $42.55.
Otter Tail Corporation (NASDAQ:OTTR) last posted its quarterly earnings results on Monday, May 1st. The utilities provider reported $0.49 EPS for the quarter, topping the consensus estimate of $0.43 by $0.06. The business had revenue of $214.10 million during the quarter, compared to analysts’ expectations of $211.80 million. Otter Tail Corporation had a net margin of 8.30% and a return on equity of 10.15%. The firm’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same period last year, the company posted $0.38 earnings per share. Analysts predict that Otter Tail Corporation will post $1.72 EPS for the current year.
In other Otter Tail Corporation news, CFO Kevin G. Moug sold 800 shares of Otter Tail Corporation stock in a transaction that occurred on Monday, May 15th. The shares were sold at an average price of $37.25, for a total value of $29,800.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.40% of the stock is owned by insiders.
A number of hedge funds have recently bought and sold shares of OTTR. Dimensional Fund Advisors LP boosted its stake in Otter Tail Corporation by 0.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,110,534 shares of the utilities provider’s stock worth $45,310,000 after buying an additional 3,535 shares during the period. Ameritas Investment Partners Inc. purchased a new position in Otter Tail Corporation during the first quarter worth approximately $119,000. Trexquant Investment LP purchased a new position in Otter Tail Corporation during the first quarter worth approximately $506,000. Virginia Retirement Systems ET AL purchased a new position in Otter Tail Corporation during the first quarter worth approximately $906,000. Finally, Guggenheim Capital LLC raised its position in Otter Tail Corporation by 33.4% in the fourth quarter. Guggenheim Capital LLC now owns 35,591 shares of the utilities provider’s stock worth $1,452,000 after buying an additional 8,918 shares in the last quarter. Hedge funds and other institutional investors own 39.37% of the company’s stock.
About Otter Tail Corporation
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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