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

Otter Tail (NASDAQ:OTTR - Get Free Report) was upgraded by stock analysts at Siebert Williams Shank from a "hold" rating to a "buy" rating in a note issued to investors on Wednesday, Marketbeat.com reports. The firm presently has a $83.00 price target on the utilities provider's stock, up from their prior price target of $82.00. Siebert Williams Shank's price target suggests a potential upside of 8.16% from the company's current price.

Otter Tail Price Performance

Shares of NASDAQ:OTTR traded up $0.05 during trading on Wednesday, reaching $76.74. 167,949 shares of the company traded hands, compared to its average volume of 240,325. The firm has a market capitalization of $3.21 billion, a PE ratio of 10.70 and a beta of 0.56. Otter Tail has a 52 week low of $71.66 and a 52 week high of $100.84. The company has a quick ratio of 1.66, a current ratio of 2.03 and a debt-to-equity ratio of 0.57. The company's 50 day moving average is $79.51 and its two-hundred day moving average is $78.72.

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of OTTR. Byrne Asset Management LLC boosted its stake in shares of Otter Tail by 54.8% in the 1st 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. MJT & Associates Financial Advisory Group Inc. acquired a new stake in Otter Tail in the first quarter valued at approximately $34,000. Vermillion Wealth Management Inc. bought a new stake in shares of Otter Tail during the fourth quarter worth $36,000. Asset Planning Inc bought a new stake in shares of Otter Tail during the fourth quarter worth $37,000. Finally, Wilmington Savings Fund Society FSB acquired a new position in shares of Otter Tail during the third quarter worth $39,000. 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.