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

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

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

Otter Tail Stock Performance

Shares of Otter Tail stock opened at $80.38 on Thursday. The business has a fifty day simple moving average of $78.55 and a two-hundred day simple moving average of $85.50. The firm has a market capitalization of $3.36 billion, a P/E ratio of 11.10 and a beta of 0.52. The company has a current ratio of 2.17, a quick ratio of 1.66 and a debt-to-equity ratio of 0.58. Otter Tail has a 12 month low of $73.43 and a 12 month high of $100.84.

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

Institutional Investors Weigh In On Otter Tail

A number of large investors have recently added to or reduced their stakes in the stock. Atticus Wealth Management LLC bought a new stake in shares of Otter Tail during the 2nd quarter valued at about $33,000. Hoese & Co LLP purchased a new stake in Otter Tail during the third quarter valued at approximately $39,000. Allworth Financial LP boosted its stake in shares of Otter Tail by 132.8% during the 3rd quarter. Allworth Financial LP now owns 547 shares of the utilities provider’s stock worth $43,000 after acquiring an additional 312 shares during the last quarter. GAMMA Investing LLC increased its stake in shares of Otter Tail by 46.3% in the 2nd quarter. GAMMA Investing LLC now owns 657 shares of the utilities provider’s stock worth $58,000 after purchasing an additional 208 shares in the last quarter. Finally, Quarry LP raised its holdings in Otter Tail by 1,811.4% in the 2nd quarter. Quarry LP now owns 669 shares of the utilities provider’s stock worth $59,000 after purchasing an additional 634 shares during the period. 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.