Otter Tail Corporation (NASDAQ:OTTR) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Thursday. The firm presently has a $48.00 price objective on the utilities provider’s stock. Zacks Investment Research‘s price target points to a potential upside of 12.15% from the stock’s previous close.

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. “

Separately, BidaskClub upgraded Otter Tail Corporation from a “sell” rating to a “hold” rating in a research note on Monday, July 31st.

Shares of Otter Tail Corporation (NASDAQ:OTTR) traded down 0.47% during midday trading on Thursday, reaching $42.80. 59,070 shares of the company were exchanged. The company has a 50 day moving average price of $41.82 and a 200-day moving average price of $39.68. The stock has a market capitalization of $1.69 billion, a P/E ratio of 24.64 and a beta of 0.79. Otter Tail Corporation has a 12-month low of $33.08 and a 12-month high of $43.30.

Otter Tail Corporation (NASDAQ:OTTR) last posted its quarterly earnings results on Monday, August 7th. The utilities provider reported $0.42 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.41 by $0.01. Otter Tail Corporation had a return on equity of 10.14% and a net margin of 8.35%. The business had revenue of $212.10 million during the quarter, compared to the consensus estimate of $211.30 million. During the same period in the prior year, the company posted $0.41 EPS. The firm’s revenue for the quarter was up 4.2% compared to the same quarter last year. On average, analysts forecast that Otter Tail Corporation will post $1.75 earnings per share for the current fiscal year.

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In other news, CFO Kevin G. Moug sold 1,500 shares of the company’s stock in a transaction that occurred on Wednesday, August 16th. The stock was sold at an average price of $41.75, for a total transaction of $62,625.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 1.40% of the stock is owned by corporate insiders.

Several institutional investors and hedge funds have recently modified their holdings of the company. Public Employees Retirement System of Ohio raised its holdings in shares of Otter Tail Corporation by 444.3% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 15,212 shares of the utilities provider’s stock worth $602,000 after acquiring an additional 12,417 shares in the last quarter. Ameritas Investment Partners Inc. raised its holdings in shares of Otter Tail Corporation by 9.8% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 3,453 shares of the utilities provider’s stock worth $137,000 after acquiring an additional 309 shares in the last quarter. Americafirst Capital Management LLC purchased a new stake in shares of Otter Tail Corporation during the 2nd quarter worth approximately $1,320,000. Raymond James Financial Services Advisors Inc. raised its holdings in shares of Otter Tail Corporation by 5.4% during the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 13,781 shares of the utilities provider’s stock worth $546,000 after acquiring an additional 703 shares in the last quarter. Finally, The Manufacturers Life Insurance Company raised its holdings in shares of Otter Tail Corporation by 4.9% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 30,993 shares of the utilities provider’s stock worth $1,228,000 after acquiring an additional 1,437 shares in the last quarter. 40.60% of the stock is currently owned by institutional investors and hedge funds.

Otter Tail Corporation 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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