Otter Tail (OTTR) Rating Lowered to Hold at BidaskClub
Otter Tail (NASDAQ:OTTR) was downgraded by investment analysts at BidaskClub from a “buy” rating to a “hold” rating in a note issued to investors on Tuesday.
Separately, Zacks Investment Research upgraded shares of Otter Tail from a “hold” rating to a “buy” rating and set a $53.00 price objective on the stock in a report on Tuesday, November 27th.
Shares of OTTR opened at $48.06 on Tuesday. Otter Tail has a twelve month low of $39.00 and a twelve month high of $51.88. The firm has a market capitalization of $1.92 billion, a PE ratio of 25.84 and a beta of 0.48. The company has a current ratio of 1.48, a quick ratio of 0.90 and a debt-to-equity ratio of 0.81.
In other news, Director John D. Erickson sold 2,300 shares of the firm’s stock in a transaction on Tuesday, November 20th. The shares were sold at an average price of $47.35, for a total value of $108,905.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Paul L. Knutson sold 3,000 shares of the firm’s stock in a transaction on Monday, November 12th. The shares were sold at an average price of $47.79, for a total transaction of $143,370.00. The disclosure for this sale can be found here. 1.70% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Strs Ohio purchased a new position in shares of Otter Tail in the 4th quarter valued at $29,000. FMR LLC purchased a new position in shares of Otter Tail in the 3rd quarter valued at $176,000. Cubic Asset Management LLC purchased a new position in shares of Otter Tail in the 3rd quarter valued at $201,000. Bank of Montreal Can grew its position in shares of Otter Tail by 38.3% in the 3rd quarter. Bank of Montreal Can now owns 4,302 shares of the utilities provider’s stock valued at $206,000 after buying an additional 1,192 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC grew its position in shares of Otter Tail by 80.6% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 4,855 shares of the utilities provider’s stock valued at $241,000 after buying an additional 2,166 shares during the last quarter. 43.05% of the stock is currently owned by hedge funds and other institutional investors.
About Otter Tail
Otter Tail Corporation, together with its subsidiaries, engages in electric, manufacturing, and plastics businesses in the United States. The company's 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, Inc markets.
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