Siebert Williams Shank Upgrades Otter Tail (NASDAQ:OTTR) to "Hold"

Otter Tail (NASDAQ:OTTR - Get Free Report) was upgraded by investment analysts at Siebert Williams Shank from a "strong sell" rating to a "hold" rating in a report issued on Wednesday,Zacks.com reports.

Separately, StockNews.com lowered Otter Tail from a "hold" rating to a "sell" rating in a research report on Wednesday.

Otter Tail Trading Down 4.2 %

Shares of OTTR stock traded down $3.43 during mid-day trading on Wednesday, hitting $79.06. The company's stock had a trading volume of 608,343 shares, compared to its average volume of 235,389. Otter Tail has a 52 week low of $73.43 and a 52 week high of $100.84. The company has a market cap of $3.31 billion, a PE ratio of 11.23 and a beta of 0.52. The company's fifty day simple moving average is $78.73 and its 200-day simple moving average is $85.67. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.67 and a current ratio of 2.27.

Otter Tail (NASDAQ:OTTR - Get Free Report) last issued its earnings results on Monday, November 4th. The utilities provider reported $2.03 EPS for the quarter, beating analysts' consensus estimates of $1.97 by $0.06. Otter Tail had a return on equity of 20.28% and a net margin of 22.70%. The business had revenue of $338.03 million during the quarter, compared to analyst estimates of $362.20 million. During the same period in the previous year, the company posted $2.19 EPS. As a group, equities research analysts expect that Otter Tail will post 7.01 earnings per share 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 Otter Tail stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $88.74, for a total transaction of $354,960.00. Following the completion of the transaction, the vice president now owns 12,300 shares in the company, valued at approximately $1,091,502. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 2.30% of the company's stock.

Hedge Funds Weigh In On Otter Tail

A number of hedge funds and other institutional investors have recently modified their holdings of OTTR. Texas Permanent School Fund Corp boosted its stake in shares of Otter Tail by 1.3% in the 1st quarter. Texas Permanent School Fund Corp now owns 36,505 shares of the utilities provider's stock worth $3,154,000 after buying an additional 472 shares during the last quarter. Quantbot Technologies LP purchased a new position in shares of Otter Tail in the 1st quarter worth approximately $590,000. SG Americas Securities LLC boosted its stake in shares of Otter Tail by 108.3% in the 1st quarter. SG Americas Securities LLC now owns 4,499 shares of the utilities provider's stock worth $389,000 after buying an additional 2,339 shares during the last quarter. Illinois Municipal Retirement Fund raised its holdings in shares of Otter Tail by 3.8% in the 1st quarter. Illinois Municipal Retirement Fund now owns 25,061 shares of the utilities provider's stock worth $2,165,000 after purchasing an additional 912 shares during the period. Finally, Russell Investments Group Ltd. raised its holdings in shares of Otter Tail by 4,836.6% in the 1st quarter. Russell Investments Group Ltd. now owns 15,106 shares of the utilities provider's stock worth $1,305,000 after purchasing an additional 14,800 shares during the period. Hedge funds and other institutional investors own 61.32% of the company's stock.

Otter Tail Company Profile

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.