Zacks: Brokerages Set $42.00 Target Price for Otter Tail Co. (OTTR)

Shares of Otter Tail Co. (NASDAQ:OTTR) have earned a consensus broker rating score of 3.00 (Hold) from the three analysts that provide coverage for the stock, Zacks Investment Research reports. Three analysts have rated the stock with a hold rating.

Brokers have set a 12 month consensus target price of $42.00 for the company, according to Zacks. Zacks has also given Otter Tail an industry rank of 167 out of 265 based on the ratings given to its competitors.

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A number of equities research analysts have issued reports on OTTR shares. BidaskClub downgraded shares of Otter Tail from a “hold” rating to a “sell” rating in a research report on Thursday, March 1st. Zacks Investment Research downgraded shares of Otter Tail from a “buy” rating to a “hold” rating in a research report on Tuesday, March 27th. Sidoti downgraded shares of Otter Tail from a “buy” rating to a “neutral” rating and set a $46.00 target price for the company. in a research report on Monday, January 8th. Finally, Williams Capital reiterated a “hold” rating and issued a $42.00 target price (up previously from $41.00) on shares of Otter Tail in a research report on Thursday, February 15th.

In other news, CFO Kevin G. Moug sold 1,500 shares of the stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $40.55, for a total transaction of $60,825.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 1.70% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in OTTR. Sei Investments Co. increased its stake in shares of Otter Tail by 17.4% during the 3rd quarter. Sei Investments Co. now owns 8,414 shares of the utilities provider’s stock worth $364,000 after purchasing an additional 1,244 shares during the last quarter. Russell Investments Group Ltd. increased its stake in shares of Otter Tail by 7.0% during the 3rd quarter. Russell Investments Group Ltd. now owns 32,502 shares of the utilities provider’s stock worth $1,409,000 after purchasing an additional 2,129 shares during the last quarter. SG Americas Securities LLC increased its stake in shares of Otter Tail by 132.1% during the 3rd quarter. SG Americas Securities LLC now owns 8,566 shares of the utilities provider’s stock worth $371,000 after purchasing an additional 4,876 shares during the last quarter. American International Group Inc. increased its stake in shares of Otter Tail by 8.1% during the 3rd quarter. American International Group Inc. now owns 26,378 shares of the utilities provider’s stock worth $1,143,000 after purchasing an additional 1,972 shares during the last quarter. Finally, Legal & General Group Plc increased its stake in shares of Otter Tail by 21.2% during the 3rd quarter. Legal & General Group Plc now owns 14,930 shares of the utilities provider’s stock worth $649,000 after purchasing an additional 2,612 shares during the last quarter. Institutional investors own 42.02% of the company’s stock.

OTTR stock traded up $0.60 during midday trading on Thursday, reaching $43.90. The company had a trading volume of 43,769 shares, compared to its average volume of 99,389. Otter Tail has a 1 year low of $36.45 and a 1 year high of $48.65. The company has a quick ratio of 0.59, a current ratio of 0.93 and a debt-to-equity ratio of 0.70. The company has a market cap of $1,694.04, a price-to-earnings ratio of 23.60 and a beta of 0.63.

Otter Tail (NASDAQ:OTTR) last released its earnings results on Monday, February 12th. The utilities provider reported $0.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.44 by $0.06. Otter Tail had a net margin of 8.53% and a return on equity of 10.73%. The company had revenue of $206.70 million during the quarter, compared to the consensus estimate of $207.30 million. During the same quarter in the prior year, the firm earned $0.44 EPS. The company’s revenue was up 5.1% compared to the same quarter last year. research analysts anticipate that Otter Tail will post 1.9 EPS for the current year.

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Otter Tail Company Profile

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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