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.

Otter Tail (NASDAQ:OTTR) last released its quarterly earnings results on Wednesday, November 1st. The utilities provider reported $0.45 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.39 by $0.06. The company had revenue of $216.50 million for the quarter, compared to analyst estimates of $201.70 million. Otter Tail had a net margin of 8.53% and a return on equity of 10.47%. The firm’s revenue was up 9.8% on a year-over-year basis. During the same quarter last year, the business earned $0.37 earnings per share. research analysts predict that Otter Tail will post 1.8 EPS for the current year.

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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