Otter Tail (OTTR) Downgraded to “Buy” at BidaskClub
Otter Tail (NASDAQ:OTTR) was downgraded by BidaskClub from a “strong-buy” rating to a “buy” rating in a research note issued on Tuesday.
Several other equities research analysts also recently issued reports on the company. Zacks Investment Research upgraded Otter Tail from a “hold” rating to a “buy” rating and set a $52.00 price objective on the stock in a report on Tuesday, November 7th. KeyCorp reiterated a “hold” rating on shares of Otter Tail in a report on Friday, October 20th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $44.67.
Otter Tail (NASDAQ:OTTR) traded down $0.95 during mid-day trading on Tuesday, reaching $45.45. The company’s stock had a trading volume of 80,595 shares, compared to its average volume of 93,185. The company has a quick ratio of 0.61, a current ratio of 0.93 and a debt-to-equity ratio of 0.71. Otter Tail has a 52 week low of $35.65 and a 52 week high of $48.65. The stock has a market cap of $1,830.00, a P/E ratio of 25.97 and a beta of 0.82.
In other news, VP George A. Koeck sold 3,000 shares of the business’s stock in a transaction that occurred on 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 can be accessed through the SEC website. Also, Director John D. Erickson sold 2,400 shares of the business’s stock in a transaction that occurred on Monday, November 20th. The shares were sold at an average price of $45.55, for a total value of $109,320.00. The disclosure for this sale can be found here. Insiders sold a total of 6,900 shares of company stock valued at $318,570 over the last quarter. Company insiders own 1.40% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the company. Steward Partners Investment Advisory LLC bought a new stake in shares of Otter Tail in the 3rd quarter valued at approximately $107,000. Old Mutual Global Investors UK Ltd. bought a new position in Otter Tail during the 2nd quarter worth $107,000. Ameritas Investment Partners Inc. grew its stake in Otter Tail 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 buying an additional 309 shares during the last quarter. C M Bidwell & Associates Ltd. bought a new position in Otter Tail during the 2nd quarter worth $173,000. Finally, Amalgamated Bank bought a new position in Otter Tail during the 3rd quarter worth $212,000. Institutional investors and hedge funds own 41.10% of the company’s stock.
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About Otter Tail
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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