Otter Tail (NASDAQ:OTTR) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Thursday.

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. “

Several other equities analysts have also recently issued reports on OTTR. BidaskClub raised shares of Otter Tail from a “strong sell” rating to a “sell” rating in a research note on Wednesday, January 31st. Sidoti cut shares of Otter Tail from a “buy” rating to a “neutral” rating and set a $46.00 price objective on the stock. in a research note on Monday, January 8th. Finally, KeyCorp reissued a “hold” rating on shares of Otter Tail in a research note on Friday, October 20th.

Otter Tail (NASDAQ OTTR) opened at $40.60 on Thursday. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.93 and a quick ratio of 0.61. The stock has a market cap of $1,647.57, a price-to-earnings ratio of 22.31 and a beta of 0.71. Otter Tail has a 12 month low of $35.65 and a 12 month high of $48.65.

Otter Tail (NASDAQ:OTTR) last announced its quarterly earnings data on Monday, February 12th. The utilities provider reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.44 by $0.06. The company had revenue of $206.70 million for the quarter, compared to analysts’ expectations of $207.30 million. Otter Tail had a net margin of 8.53% and a return on equity of 10.77%. Otter Tail’s revenue was up 5.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.44 EPS. equities research analysts anticipate that Otter Tail will post 1.9 earnings per share for the current fiscal year.

In other Otter Tail news, Director John D. Erickson sold 2,400 shares of the business’s stock in a transaction on Monday, November 20th. The shares were sold at an average price of $45.55, for a total value of $109,320.00. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 1.40% of the company’s stock.

Large investors have recently bought and sold shares of the company. Steward Partners Investment Advisory LLC acquired a new position in shares of Otter Tail during the 3rd quarter worth $107,000. Ameritas Investment Partners Inc. grew its stake in shares of Otter Tail by 9.8% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 3,453 shares of the utilities provider’s stock worth $137,000 after purchasing an additional 309 shares during the period. Amalgamated Bank acquired a new position in shares of Otter Tail during the 3rd quarter worth $212,000. Murphy Capital Management Inc. acquired a new position in shares of Otter Tail during the 3rd quarter worth $216,000. Finally, Ellington Management Group LLC acquired a new position in shares of Otter Tail during the 4th quarter worth $244,000. 41.13% of the stock is currently owned by institutional investors and hedge funds.

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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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