Otter Tail (NASDAQ:OTTR) Rating Increased to Buy at Siebert Williams Shank

Otter Tail (NASDAQ:OTTR - Get Free Report) was upgraded by equities research analysts at Siebert Williams Shank from a "hold" rating to a "buy" rating in a report issued on Wednesday, MarketBeat Ratings reports. The firm presently has a $83.00 price objective on the utilities provider's stock, up from their previous price objective of $82.00. Siebert Williams Shank's target price suggests a potential upside of 5.93% from the stock's current price.

Otter Tail Stock Performance

Shares of Otter Tail stock traded up $1.40 on Wednesday, reaching $78.36. 46,796 shares of the stock were exchanged, compared to its average volume of 239,937. Otter Tail has a 1-year low of $71.66 and a 1-year high of $100.84. The firm has a market capitalization of $3.28 billion, a PE ratio of 10.89 and a beta of 0.56. The company has a current ratio of 2.03, a quick ratio of 1.66 and a debt-to-equity ratio of 0.57. The business has a fifty day moving average price of $79.51 and a two-hundred day moving average price of $78.73.

Otter Tail (NASDAQ:OTTR - Get Free Report) last posted its quarterly earnings data on Monday, May 5th. The utilities provider reported $1.62 EPS for the quarter, beating analysts' consensus estimates of $1.53 by $0.09. Otter Tail had a net margin of 22.67% and a return on equity of 18.96%. The firm had revenue of $337.35 million for the quarter, compared to the consensus estimate of $349.70 million. During the same period in the prior year, the firm posted $1.77 EPS. The firm's revenue was down 2.8% compared to the same quarter last year. As a group, research analysts anticipate that Otter Tail will post 5.88 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Private Advisor Group LLC lifted its holdings in shares of Otter Tail by 2.8% during the fourth quarter. Private Advisor Group LLC now owns 4,826 shares of the utilities provider's stock valued at $356,000 after purchasing an additional 131 shares during the last quarter. Byrne Asset Management LLC boosted its stake in shares of Otter Tail by 54.8% during the first quarter. Byrne Asset Management LLC now owns 387 shares of the utilities provider's stock valued at $31,000 after purchasing an additional 137 shares in the last quarter. Quantinno Capital Management LP lifted its position in Otter Tail by 5.6% during the fourth quarter. Quantinno Capital Management LP now owns 2,760 shares of the utilities provider's stock valued at $204,000 after acquiring an additional 146 shares during the last quarter. Xponance Inc. raised its holdings in shares of Otter Tail by 5.1% in the first quarter. Xponance Inc. now owns 3,097 shares of the utilities provider's stock worth $249,000 after buying an additional 151 shares during the last quarter. Finally, Summit Investment Advisors Inc. grew its position in Otter Tail by 5.0% during the fourth quarter. Summit Investment Advisors Inc. now owns 4,328 shares of the utilities provider's stock valued at $320,000 after buying an additional 207 shares during the period. Institutional investors and hedge funds 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.