BidaskClub Lowers Otter Tail (OTTR) to Strong Sell
Otter Tail (NASDAQ:OTTR) was downgraded by equities researchers at BidaskClub from a “sell” rating to a “strong sell” rating in a research report issued on Thursday.
OTTR has been the topic of several other research reports. Zacks Investment Research lowered shares of Otter Tail from a “buy” rating to a “hold” rating in a research report on Thursday, January 4th. Sidoti lowered shares of Otter Tail from a “buy” rating to a “neutral” rating and set a $46.00 price target on the stock. in a research report on Monday, January 8th. Finally, KeyCorp restated a “hold” rating on shares of Otter Tail in a research report on Friday, October 20th. One investment analyst has rated the stock with a sell rating and four have issued a hold rating to the company. Otter Tail has a consensus rating of “Hold” and an average target price of $44.67.
Otter Tail (NASDAQ:OTTR) traded down $0.15 during mid-day trading on Thursday, reaching $41.35. 71,540 shares of the company traded hands, compared to its average volume of 84,194. The firm has a market capitalization of $1,635.68, a price-to-earnings ratio of 22.97 and a beta of 0.82. The company has a current ratio of 0.93, a quick ratio of 0.61 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.
In other news, Director John D. Erickson sold 2,400 shares of Otter Tail stock in a transaction dated Monday, November 20th. The shares were sold at an average price of $45.55, for a total value of $109,320.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP George A. Koeck sold 3,000 shares of Otter Tail stock in a transaction dated Wednesday, November 15th. The shares were sold at an average price of $46.50, for a total transaction of $139,500.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 6,900 shares of company stock worth $318,570. Company insiders own 1.40% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Legal & General Group Plc grew its position in shares of Otter Tail by 1.3% in the second quarter. Legal & General Group Plc now owns 12,318 shares of the utilities provider’s stock valued at $490,000 after purchasing an additional 160 shares during the period. Principal Financial Group Inc. grew its position in shares of Otter Tail by 3.2% in the second quarter. Principal Financial Group Inc. now owns 8,477 shares of the utilities provider’s stock valued at $336,000 after purchasing an additional 260 shares during the period. Ameritas Investment Partners Inc. grew its position in shares of Otter Tail by 9.8% in the second quarter. Ameritas Investment Partners Inc. now owns 3,453 shares of the utilities provider’s stock valued at $137,000 after purchasing an additional 309 shares during the period. Advisor Group Inc. grew its position in shares of Otter Tail by 5.3% in the second quarter. Advisor Group Inc. now owns 7,879 shares of the utilities provider’s stock valued at $312,000 after purchasing an additional 400 shares during the period. Finally, Ameriprise Financial Inc. lifted its stake in shares of Otter Tail by 8.8% in the second quarter. Ameriprise Financial Inc. now owns 6,989 shares of the utilities provider’s stock worth $277,000 after buying an additional 565 shares in the last quarter. Institutional investors and hedge funds own 41.02% 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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