Otter Tail (NASDAQ:OTTR) Rating Increased to Buy at BidaskClub

Share on StockTwits

BidaskClub upgraded shares of Otter Tail (NASDAQ:OTTR) from a hold rating to a buy rating in a report released on Friday morning, BidAskClub reports.

Other equities analysts also recently issued reports about the stock. Zacks Investment Research downgraded shares of Otter Tail from a strong-buy rating to a hold rating in a report on Tuesday, May 21st. Maxim Group reiterated a buy rating and issued a $60.00 price objective on shares of Otter Tail in a report on Tuesday, May 7th.

NASDAQ:OTTR opened at $51.28 on Friday. Otter Tail has a one year low of $44.22 and a one year high of $54.51. The firm has a market capitalization of $2.11 billion, a P/E ratio of 25.74, a P/E/G ratio of 3.44 and a beta of 0.35. The company has a fifty day moving average of $52.50. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.83 and a current ratio of 1.36.

Otter Tail (NASDAQ:OTTR) last released its quarterly earnings data on Monday, August 5th. The utilities provider reported $0.39 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.48 by ($0.09). Otter Tail had a net margin of 8.95% and a return on equity of 11.34%. The company had revenue of $229.20 million during the quarter, compared to analyst estimates of $229.20 million. During the same quarter in the prior year, the firm earned $0.47 earnings per share. Otter Tail’s revenue for the quarter was up 1.3% on a year-over-year basis. On average, equities research analysts expect that Otter Tail will post 2.2 earnings per share for the current year.

Several hedge funds have recently added to or reduced their stakes in the stock. Arabesque Asset Management Ltd raised its holdings in Otter Tail by 17.6% during the 2nd quarter. Arabesque Asset Management Ltd now owns 8,700 shares of the utilities provider’s stock worth $459,000 after purchasing an additional 1,300 shares during the last quarter. Meeder Asset Management Inc. bought a new position in Otter Tail during the 2nd quarter worth approximately $80,000. Hillsdale Investment Management Inc. raised its holdings in Otter Tail by 32.8% during the 2nd quarter. Hillsdale Investment Management Inc. now owns 16,600 shares of the utilities provider’s stock worth $877,000 after purchasing an additional 4,100 shares during the last quarter. Swiss National Bank raised its holdings in Otter Tail by 2.2% during the 2nd quarter. Swiss National Bank now owns 66,500 shares of the utilities provider’s stock worth $3,512,000 after purchasing an additional 1,400 shares during the last quarter. Finally, Aperio Group LLC raised its holdings in Otter Tail by 28.2% during the 2nd quarter. Aperio Group LLC now owns 14,801 shares of the utilities provider’s stock worth $782,000 after purchasing an additional 3,258 shares during the last quarter. Institutional investors and hedge funds own 43.69% of the company’s stock.

Otter Tail Company Profile

Otter Tail Corporation, together with its subsidiaries, engages in electric, manufacturing, and plastics businesses in the United States. The company's Electric segment produces, transmits, distributes, and sells electric energy in Minnesota, North Dakota, and South Dakota; and operates as a participant in the Midcontinent Independent System Operator, Inc markets.

Read More: How Important is Technical Analysis of Stocks

Receive News & Ratings for Otter Tail Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Otter Tail and related companies with MarketBeat.com's FREE daily email newsletter.



Latest News

SG Americas Securities LLC Invests $770,000 in Antero Midstream GP LP
SG Americas Securities LLC Invests $770,000 in Antero Midstream GP LP
Los Angeles Capital Management & Equity Research Inc. Boosts Holdings in Veracyte Inc
Los Angeles Capital Management & Equity Research Inc. Boosts Holdings in Veracyte Inc
Workhorse Group  Sees Large Volume Increase
Workhorse Group Sees Large Volume Increase
Atlantica Yield  Reaches New 1-Year High at $23.93
Atlantica Yield Reaches New 1-Year High at $23.93
Castle Brands  Sees Large Volume Increase
Castle Brands Sees Large Volume Increase
NexPoint Residential Trust  Hits New 12-Month High at $46.70
NexPoint Residential Trust Hits New 12-Month High at $46.70


© 2006-2019 Ticker Report