Zacks: Otter Tail Co. (OTTR) Given Consensus Recommendation of “Hold” by Analysts

Shares of Otter Tail Co. (NASDAQ:OTTR) have received a consensus broker rating score of 3.00 (Hold) from the three brokers that cover the company, Zacks Investment Research reports. Three research analysts have rated the stock with a hold rating. Otter Tail’s rating score has declined by 28.8% in the last three months as a result of a number of analysts’ upgrades and downgrades.

Brokerages have set a twelve-month consensus target price of $43.50 for the company and are predicting that the company will post $0.44 earnings per share for the current quarter, according to Zacks. Zacks has also assigned Otter Tail an industry rank of 221 out of 265 based on the ratings given to its competitors.

OTTR has been the topic of a number of recent analyst reports. KeyCorp reiterated a “hold” rating on shares of Otter Tail in a report on Friday, October 20th. Zacks Investment Research upgraded shares of 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. Sidoti lowered shares of Otter Tail from a “buy” rating to a “neutral” rating and set a $46.00 price objective on the stock. in a report on Monday, January 8th. Finally, BidaskClub lowered shares of Otter Tail from a “buy” rating to a “hold” rating in a report on Friday, December 22nd.

Shares of Otter Tail (NASDAQ OTTR) traded down $1.60 during mid-day trading on Monday, reaching $40.40. 111,528 shares of the company’s stock were exchanged, compared to its average volume of 99,734. Otter Tail has a 52-week low of $35.65 and a 52-week high of $48.65. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.93 and a quick ratio of 0.61. The firm has a market cap of $1,661.41, a price-to-earnings ratio of 22.44 and a beta of 0.71.

In other news, Director John D. Erickson sold 2,400 shares of the business’s 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Kevin G. Moug sold 1,500 shares of the business’s stock in a transaction dated Wednesday, November 15th. The stock was sold at an average price of $46.50, for a total transaction of $69,750.00. The disclosure for this sale can be found here. Insiders sold a total of 6,900 shares of company stock valued at $318,570 in the last three months. Insiders own 1.40% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Principal Financial Group Inc. increased its position in shares of Otter Tail by 3.2% in the 2nd quarter. Principal Financial Group Inc. now owns 8,477 shares of the utilities provider’s stock worth $336,000 after purchasing an additional 260 shares during the last quarter. Ameritas Investment Partners Inc. increased its position in shares of Otter Tail by 9.8% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 3,453 shares of the utilities provider’s stock worth $137,000 after purchasing an additional 309 shares during the last quarter. Advisor Group Inc. increased its position in shares of Otter Tail by 5.3% in the 2nd quarter. Advisor Group Inc. now owns 7,879 shares of the utilities provider’s stock worth $312,000 after purchasing an additional 400 shares during the last quarter. Ameriprise Financial Inc. increased its position in shares of Otter Tail by 8.8% in the 2nd quarter. Ameriprise Financial Inc. now owns 6,989 shares of the utilities provider’s stock worth $277,000 after purchasing an additional 565 shares during the last quarter. Finally, Raymond James Financial Services Advisors Inc. increased its position in shares of Otter Tail by 5.4% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 13,781 shares of the utilities provider’s stock worth $546,000 after purchasing an additional 703 shares during the last quarter. 41.19% of the stock is owned by institutional investors.

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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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