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

Otter Tail (NASDAQ:OTTR) was downgraded by research analysts at StockNews.com from a “hold” rating to a “sell” rating in a report released on Wednesday.

Otter Tail Stock Performance

Otter Tail stock opened at $82.49 on Wednesday. The company’s 50-day moving average price is $78.73 and its 200-day moving average price is $85.67. Otter Tail has a twelve month low of $73.43 and a twelve month high of $100.84. The company has a quick ratio of 1.67, a current ratio of 2.27 and a debt-to-equity ratio of 0.60. The company has a market cap of $3.45 billion, a PE ratio of 11.39 and a beta of 0.52.

Otter Tail (NASDAQ:OTTR) last issued its quarterly earnings results on Monday, November 4th. The utilities provider reported $2.03 EPS for the quarter, beating the consensus estimate of $1.97 by $0.06. The company had revenue of $338.03 million for the quarter, compared to the consensus estimate of $362.20 million. Otter Tail had a net margin of 22.70% and a return on equity of 20.28%. During the same period in the prior year, the firm posted $2.19 EPS. On average, equities research analysts forecast that Otter Tail will post 7.01 EPS for the current fiscal year.

Insider Buying and Selling at Otter Tail

In other Otter Tail news, VP Jennifer O. Smestad sold 4,000 shares of the business’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $88.74, for a total value of $354,960.00. Following the completion of the sale, the vice president now directly owns 12,300 shares of the company’s stock, valued at $1,091,502. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.30% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Otter Tail

Hedge funds have recently modified their holdings of the business. Creative Planning lifted its position in Otter Tail by 2.2% during the second quarter. Creative Planning now owns 6,281 shares of the utilities provider’s stock valued at $550,000 after acquiring an additional 137 shares during the last quarter. Foster & Motley Inc. increased its stake in shares of Otter Tail by 1.5% in the second quarter. Foster & Motley Inc. now owns 9,855 shares of the utilities provider’s stock worth $863,000 after acquiring an additional 149 shares during the period. GAMMA Investing LLC increased its stake in shares of Otter Tail by 46.3% in the second quarter. GAMMA Investing LLC now owns 657 shares of the utilities provider’s stock worth $58,000 after acquiring an additional 208 shares during the period. Arizona State Retirement System increased its stake in shares of Otter Tail by 2.0% in the second quarter. Arizona State Retirement System now owns 10,525 shares of the utilities provider’s stock worth $922,000 after acquiring an additional 208 shares during the period. Finally, Los Angeles Capital Management LLC boosted its holdings in Otter Tail by 1.3% during the second quarter. Los Angeles Capital Management LLC now owns 21,091 shares of the utilities provider’s stock worth $1,847,000 after buying an additional 265 shares in the last quarter. Hedge funds and other institutional investors own 61.32% of the company’s stock.

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.