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.

Otter Tail (NASDAQ:OTTR) last posted its quarterly earnings data on Wednesday, November 1st. The utilities provider reported $0.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.39 by $0.06. Otter Tail had a return on equity of 10.47% and a net margin of 8.53%. The company had revenue of $216.50 million for the quarter, compared to the consensus estimate of $201.70 million. During the same period in the previous year, the business earned $0.37 EPS. Otter Tail’s revenue for the quarter was up 9.8% compared to the same quarter last year. equities research analysts anticipate that Otter Tail will post 1.78 EPS for the current fiscal year.

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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