Otter Tail (NASDAQ:OTTR) Stock Rating Upgraded by StockNews.com

Otter Tail (NASDAQ:OTTR) was upgraded by research analysts at StockNews.com from a “sell” rating to a “hold” rating in a research note issued to investors on Thursday.

Separately, Siebert Williams Shank raised shares of Otter Tail from a “strong sell” rating to a “hold” rating in a research note on Wednesday, November 6th.

Otter Tail Price Performance

Shares of Otter Tail stock opened at $80.31 on Thursday. The company has a current ratio of 2.17, a quick ratio of 1.66 and a debt-to-equity ratio of 0.58. The stock has a market capitalization of $3.36 billion, a price-to-earnings ratio of 11.09 and a beta of 0.52. Otter Tail has a 1-year low of $73.43 and a 1-year high of $100.84. The firm’s 50-day moving average price is $78.52 and its two-hundred day moving average price is $85.54.

Otter Tail (NASDAQ:OTTR) last issued its quarterly earnings data on Monday, November 4th. The utilities provider reported $2.03 earnings per share for the quarter, topping the consensus estimate of $1.97 by $0.06. Otter Tail had a net margin of 22.70% and a return on equity of 19.84%. The firm had revenue of $338.03 million for the quarter, compared to analysts’ expectations of $362.20 million. During the same period in the prior year, the firm earned $2.19 earnings per share. On average, equities analysts predict that Otter Tail will post 7.01 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Otter Tail

Several hedge funds have recently bought and sold shares of OTTR. Vanguard Group Inc. raised its holdings in Otter Tail by 3.9% in the first quarter. Vanguard Group Inc. now owns 5,238,510 shares of the utilities provider’s stock worth $452,607,000 after purchasing an additional 197,617 shares during the period. Bank & Trust Co acquired a new stake in shares of Otter Tail during the second quarter worth $11,129,000. International Assets Investment Management LLC raised its holdings in shares of Otter Tail by 3,339.9% during the third quarter. International Assets Investment Management LLC now owns 76,434 shares of the utilities provider’s stock worth $5,974,000 after acquiring an additional 74,212 shares during the period. Edgestream Partners L.P. raised its holdings in shares of Otter Tail by 2,055.2% during the second quarter. Edgestream Partners L.P. now owns 67,695 shares of the utilities provider’s stock worth $5,929,000 after acquiring an additional 64,554 shares during the period. Finally, Segall Bryant & Hamill LLC acquired a new stake in shares of Otter Tail during the third quarter worth $2,947,000. 61.32% of the stock is currently owned by institutional investors and hedge funds.

About Otter Tail

Otter Tail Corporation, together with its subsidiaries, engages in electric utility, manufacturing, and plastic pipe businesses in the United States. It operates through three segments: Electric, Manufacturing, and Plastics. The 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 markets.