BidaskClub downgraded shares of Otter Tail (NASDAQ:OTTR) from a buy rating to a hold rating in a report released on Friday, April 13th.
A number of other research firms also recently issued reports on OTTR. Zacks Investment Research raised shares of Otter Tail from a hold rating to a buy rating and set a $48.00 target price for the company in a research report on Thursday, January 25th. Williams Capital reiterated a hold rating and set a $42.00 target price (up from $41.00) on shares of Otter Tail in a research note on Thursday, February 15th. Finally, Sidoti cut Otter Tail from a buy rating to a neutral rating and set a $46.00 target price for the company. in a research note on Monday, January 8th. Five investment analysts have rated the stock with a hold rating, The company has an average rating of Hold and a consensus price target of $44.33.
NASDAQ:OTTR opened at $43.70 on Friday. Otter Tail has a fifty-two week low of $36.45 and a fifty-two week high of $48.65. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.59 and a current ratio of 0.93. The firm has a market cap of $1,731.70, a PE ratio of 23.49 and a beta of 0.63.
In related news, CFO Kevin G. Moug sold 1,500 shares of Otter Tail stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $40.55, for a total transaction of $60,825.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.70% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the business. Steward Partners Investment Advisory LLC acquired a new stake in Otter Tail during the 3rd quarter worth about $107,000. Ellington Management Group LLC acquired a new stake in shares of Otter Tail during the 4th quarter valued at about $244,000. Raymond James & Associates acquired a new stake in shares of Otter Tail during the 4th quarter valued at about $252,000. Ladenburg Thalmann Financial Services Inc. lifted its holdings in shares of Otter Tail by 65.3% during the 3rd quarter. Ladenburg Thalmann Financial Services Inc. now owns 7,253 shares of the utilities provider’s stock valued at $314,000 after buying an additional 2,866 shares during the last quarter. Finally, Old Mutual Global Investors UK Ltd. lifted its holdings in shares of Otter Tail by 28.4% during the 4th quarter. Old Mutual Global Investors UK Ltd. now owns 8,011 shares of the utilities provider’s stock valued at $356,000 after buying an additional 1,771 shares during the last quarter. Hedge funds and other institutional investors own 42.02% of the company’s stock.
ILLEGAL ACTIVITY NOTICE: This report was originally posted by StockNewsTimes and is owned by of StockNewsTimes. If you are accessing this report on another website, it was illegally copied and reposted in violation of United States & international copyright and trademark law. The legal version of this report can be read at https://stocknewstimes.com/2018/04/22/bidaskclub-downgrades-otter-tail-ottr-to-hold.html.
About Otter Tail
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.
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.