Otter Tail Corporation (OTTR) Stock Rating Lowered by Zacks Investment Research
Otter Tail Corporation (NASDAQ:OTTR) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Wednesday.
According to Zacks, “OTTER TAIL’s primary business is the production, transmission, distribution and sale of electric energy. The Company, through its subsidiaries, is also engaged in other businesses which are referred to as Health Services Operations and Diversified Operations. “
Separately, BidaskClub cut Otter Tail Corporation from a “buy” rating to a “hold” rating in a research report on Thursday, June 22nd.
Otter Tail Corporation (NASDAQ:OTTR) last released its quarterly earnings data on Monday, August 7th. The utilities provider reported $0.42 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.41 by $0.01. The business had revenue of $212.10 million during the quarter, compared to analysts’ expectations of $211.30 million. Otter Tail Corporation had a return on equity of 10.14% and a net margin of 8.35%. The business’s quarterly revenue was up 4.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.41 EPS.
COPYRIGHT VIOLATION NOTICE: This report was originally posted by Daily Political and is owned by of Daily Political. If you are viewing this report on another publication, it was illegally copied and republished in violation of U.S. and international trademark and copyright laws. The original version of this report can be accessed at https://www.dailypolitical.com/2017/10/13/otter-tail-corporation-ottr-stock-rating-lowered-by-zacks-investment-research.html.
In other news, CFO Kevin G. Moug sold 1,500 shares of the company’s stock in a transaction dated Wednesday, August 16th. The stock was sold at an average price of $41.75, for a total transaction of $62,625.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 1.40% of the company’s stock.
Several large investors have recently added to or reduced their stakes in OTTR. Old Mutual Global Investors UK Ltd. acquired a new position in shares of Otter Tail Corporation during the 2nd quarter worth about $107,000. North Star Investment Management Corp. boosted its position in shares of Otter Tail Corporation by 91.9% during the 2nd quarter. North Star Investment Management Corp. now owns 2,905 shares of the utilities provider’s stock worth $115,000 after acquiring an additional 1,391 shares in the last quarter. Ameritas Investment Partners Inc. acquired a new position in shares of Otter Tail Corporation during the 1st quarter worth about $119,000. Sei Investments Co. boosted its position in shares of Otter Tail Corporation by 8.3% during the 1st quarter. Sei Investments Co. now owns 3,574 shares of the utilities provider’s stock worth $136,000 after acquiring an additional 274 shares in the last quarter. Finally, C M Bidwell & Associates Ltd. acquired a new position in shares of Otter Tail Corporation during the 2nd quarter worth about $173,000. 40.60% of the stock is owned by institutional investors and hedge funds.
About Otter Tail Corporation
Otter Tail Corporation is a holding company. The Company operates through three segments: Electric, Manufacturing and Plastics. The Electric segment includes the production, transmission, distribution and sale of electric energy in Minnesota, North Dakota and South Dakota by Otter Tail Power Company (OTP).
Receive News & Ratings for Otter Tail Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Otter Tail Corporation and related companies with MarketBeat.com's FREE daily email newsletter.