Otter Tail (OTTR) Downgraded by Sidoti to “Neutral”

Otter Tail (NASDAQ:OTTR) was downgraded by investment analysts at Sidoti from a “buy” rating to a “neutral” rating in a report issued on Monday, January 8th, MarketBeat reports. They currently have a $46.00 target price on the utilities provider’s stock. Sidoti’s target price indicates a potential upside of 11.25% from the company’s current price.

OTTR has been the topic of several other research reports. Zacks Investment Research downgraded Otter Tail from a “buy” rating to a “hold” rating in a report on Tuesday, September 12th. KeyCorp reiterated a “hold” rating on shares of Otter Tail in a report on Friday, October 20th. Finally, BidaskClub downgraded Otter Tail from a “strong-buy” rating to a “buy” rating in a report on Tuesday, December 12th. One investment analyst has rated the stock with a sell rating and four have given a hold rating to the stock. Otter Tail currently has a consensus rating of “Hold” and an average price target of $44.67.

Shares of Otter Tail (NASDAQ OTTR) opened at $41.35 on Monday. The company has a quick ratio of 0.61, a current ratio of 0.93 and a debt-to-equity ratio of 0.71. Otter Tail has a 12 month low of $35.65 and a 12 month high of $48.65. The stock has a market cap of $1,635.70, a price-to-earnings ratio of 22.97 and a beta of 0.82.

Otter Tail (NASDAQ:OTTR) last announced its quarterly earnings results on Wednesday, November 1st. The utilities provider reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.39 by $0.06. The company had revenue of $216.50 million during the quarter, compared to the consensus estimate of $201.70 million. Otter Tail had a net margin of 8.53% and a return on equity of 10.47%. The company’s revenue for the quarter was up 9.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.37 earnings per share. analysts expect that Otter Tail will post 1.8 EPS for the current year.

In other news, VP George A. Koeck sold 3,000 shares of the stock in a transaction that occurred on Wednesday, November 15th. The stock was sold at an average price of $46.50, for a total value of $139,500.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director John D. Erickson sold 2,400 shares of the stock in a transaction that occurred on Monday, November 20th. The shares were sold at an average price of $45.55, for a total value of $109,320.00. The disclosure for this sale can be found here. Insiders have sold 6,900 shares of company stock valued at $318,570 in the last ninety days. Company insiders own 1.40% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Old Mutual Global Investors UK Ltd. acquired a new position in Otter Tail during the second quarter worth $107,000. Steward Partners Investment Advisory LLC acquired a new position in Otter Tail during the third quarter worth $107,000. Ameritas Investment Partners Inc. raised its stake in Otter Tail by 9.8% during the second quarter. Ameritas Investment Partners Inc. now owns 3,453 shares of the utilities provider’s stock worth $137,000 after acquiring an additional 309 shares in the last quarter. C M Bidwell & Associates Ltd. acquired a new position in Otter Tail during the second quarter worth $173,000. Finally, Amalgamated Bank acquired a new position in Otter Tail during the third quarter worth $212,000. Institutional investors and hedge funds own 41.02% of the company’s stock.

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Otter Tail 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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