Otter Tail (OTTR) Downgraded by Zacks Investment Research

Otter Tail (NASDAQ:OTTR) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Thursday.

According to Zacks, “OTTER TAIL’s primary business is the production, transmission, distribution and sale of electric energy. The Company, through its subsidiaries, is also engaged in other businesses which are referred to as Health Services Operations and Diversified Operations. “

Several other equities analysts also recently issued reports on OTTR. BidaskClub upgraded Otter Tail from a “strong sell” rating to a “sell” rating in a research report on Wednesday, January 31st. Sidoti downgraded Otter Tail from a “buy” rating to a “neutral” rating and set a $46.00 price objective for the company. in a research report on Monday, January 8th. Finally, KeyCorp reiterated a “hold” rating on shares of Otter Tail in a research report on Friday, October 20th.

Shares of Otter Tail (NASDAQ OTTR) traded down $0.20 during midday trading on Thursday, hitting $39.95. The stock had a trading volume of 207,042 shares, compared to its average volume of 107,050. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.61 and a current ratio of 0.93. The firm has a market capitalization of $1,579.33, a P/E ratio of 22.19 and a beta of 0.71. Otter Tail has a fifty-two week low of $35.65 and a fifty-two week high of $48.65.

In other Otter Tail news, VP George A. Koeck sold 3,000 shares of the company’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 transaction 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 company’s stock in a transaction that occurred on Monday, November 20th. The stock was 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 6,900 shares of company stock valued at $318,570 over the last 90 days. 1.40% of the stock is currently owned by insiders.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Steward Partners Investment Advisory LLC acquired a new stake in Otter Tail in the third quarter worth approximately $107,000. Ameritas Investment Partners Inc. increased its holdings 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 buying an additional 309 shares in the last quarter. Amalgamated Bank bought a new position in shares of Otter Tail in the third quarter valued at $212,000. Murphy Capital Management Inc. bought a new position in shares of Otter Tail in the third quarter valued at $216,000. Finally, Old Mutual Global Investors UK Ltd. increased its holdings in shares of Otter Tail by 129.2% in the third quarter. Old Mutual Global Investors UK Ltd. now owns 6,240 shares of the utilities provider’s stock valued at $270,000 after buying an additional 3,517 shares in the last quarter. Hedge funds and other institutional investors own 41.19% 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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