The Otter Tail Corporation (OTTR) Lowered to “Hold” at Zacks Investment Research

The Otter Tail Corporation (OTTR) Lowered to “Hold” at Zacks Investment Research

Zacks Investment Research lowered shares of Otter Tail Corporation (NASDAQ:OTTR) from a buy rating to a hold rating in a research note released on Wednesday morning.

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. “

Separately, BidaskClub upgraded shares of Otter Tail Corporation from a sell rating to a hold rating in a report on Monday, July 31st.

Shares of Otter Tail Corporation (NASDAQ:OTTR) opened at 45.30 on Wednesday. The stock has a 50 day moving average of $43.32 and a 200 day moving average of $40.61. Otter Tail Corporation has a 1-year low of $33.45 and a 1-year high of $45.80. The stock has a market cap of $1.79 billion, a PE ratio of 26.08 and a beta of 0.78.

Otter Tail Corporation (NASDAQ:OTTR) last issued its quarterly earnings results on Monday, August 7th. The utilities provider reported $0.42 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $0.01. The business had revenue of $212.10 million during the quarter, compared to the consensus estimate of $211.30 million. Otter Tail Corporation had a net margin of 8.35% and a return on equity of 10.14%. The company’s quarterly revenue was up 4.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.41 earnings per share. Equities research analysts forecast that Otter Tail Corporation will post $1.75 EPS for the current year.

In other news, CFO Kevin G. Moug sold 1,500 shares of Otter Tail Corporation stock in a transaction dated Wednesday, August 16th. The shares were sold at an average price of $41.75, for a total transaction of $62,625.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.40% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the company. Russell Investments Group Ltd. grew its holdings in shares of Otter Tail Corporation by 15.5% during the second quarter. Russell Investments Group Ltd. now owns 30,373 shares of the utilities provider’s stock worth $1,203,000 after buying an additional 4,085 shares in the last quarter. Ameritas Investment Partners Inc. purchased a new stake in shares of Otter Tail Corporation during the first quarter worth about $119,000. Morgan Stanley grew its holdings in shares of Otter Tail Corporation by 13.8% during the first quarter. Morgan Stanley now owns 247,408 shares of the utilities provider’s stock worth $9,377,000 after buying an additional 30,059 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Otter Tail Corporation by 6.0% during the first quarter. Geode Capital Management LLC now owns 340,021 shares of the utilities provider’s stock worth $12,886,000 after buying an additional 19,380 shares in the last quarter. Finally, Symons Capital Management Inc. grew its holdings in shares of Otter Tail Corporation by 6.9% during the second quarter. Symons Capital Management Inc. now owns 21,880 shares of the utilities provider’s stock worth $867,000 after buying an additional 1,415 shares in the last quarter. Institutional investors and hedge funds own 40.60% of the company’s stock.

Otter Tail Corporation Company Profile

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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