Shares of Otter Tail Corporation (NASDAQ:OTTR) have received a consensus broker rating score of 3.00 (Hold) from the one brokers that provide coverage for the company, Zacks Investment Research reports. One analyst has rated the stock with a hold rating.
Zacks has also assigned Otter Tail Corporation an industry rank of 79 out of 265 based on the ratings given to its competitors.
Several equities research analysts have recently weighed in on the stock. Zacks Investment Research upgraded shares of Otter Tail Corporation from a “sell” rating to a “hold” rating in a research note on Wednesday, January 4th. Sidoti assumed coverage on shares of Otter Tail Corporation in a research note on Wednesday, December 7th. They set a “neutral” rating and a $40.00 target price for the company.
Otter Tail Corporation (NASDAQ:OTTR) remained flat at $38.75 during midday trading on Wednesday. The stock had a trading volume of 49,763 shares. Otter Tail Corporation has a 52-week low of $25.80 and a 52-week high of $42.55. The stock has a market cap of $1.52 billion, a PE ratio of 24.97 and a beta of 0.75. The stock’s 50-day moving average price is $39.91 and its 200 day moving average price is $35.80.
Otter Tail Corporation (NASDAQ:OTTR) last released its quarterly earnings data on Wednesday, November 2nd. The company reported $0.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.45 by $0.08. Otter Tail Corporation had a net margin of 7.46% and a return on equity of 9.57%. The company earned $197.20 million during the quarter, compared to analyst estimates of $204 million. During the same quarter in the prior year, the company earned $0.42 EPS. The business’s revenue was down 1.4% on a year-over-year basis. On average, analysts forecast that Otter Tail Corporation will post $1.59 EPS for the current fiscal year.
In other news, Director John D. Erickson sold 2,900 shares of the stock in a transaction dated Monday, November 21st. The shares were sold at an average price of $37.33, for a total transaction of $108,257.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Kevin G. Moug sold 800 shares of the stock in a transaction dated Thursday, November 10th. The stock was sold at an average price of $35.20, for a total transaction of $28,160.00. The disclosure for this sale can be found here. Insiders own 1.60% of the company’s stock.
Large investors have recently made changes to their positions in the company. Principal Financial Group Inc. acquired a new stake in shares of Otter Tail Corporation during the second quarter valued at $299,000. Dimensional Fund Advisors LP boosted its position in Otter Tail Corporation by 4.3% in the second quarter. Dimensional Fund Advisors LP now owns 1,093,804 shares of the company’s stock valued at $36,630,000 after buying an additional 45,088 shares in the last quarter. Victory Capital Management Inc. boosted its position in Otter Tail Corporation by 17.6% in the second quarter. Victory Capital Management Inc. now owns 17,211 shares of the company’s stock valued at $576,000 after buying an additional 2,572 shares in the last quarter. UBS Asset Management Americas Inc. boosted its position in Otter Tail Corporation by 14.8% in the second quarter. UBS Asset Management Americas Inc. now owns 15,499 shares of the company’s stock valued at $519,000 after buying an additional 2,000 shares in the last quarter. Finally, Nationwide Fund Advisors boosted its position in Otter Tail Corporation by 3.9% in the second quarter. Nationwide Fund Advisors now owns 25,014 shares of the company’s stock valued at $838,000 after buying an additional 943 shares in the last quarter. Institutional investors and hedge funds own 37.56% of the company’s stock.
About Otter Tail Corporation
Otter Tail Corporation is a holding company. The Company, through its subsidiaries, operates through three segments: Electric, Manufacturing and Plastics. The Company’s subsidiaries own facilities and equipment used in the manufacture of producing polyvinyl chloride (PVC) pipe, thermoformed products, heavy metal fabricated products, metal parts stamping, fabricating, painting and contract machining.
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