Zacks Investment Research cut shares of Otter Tail (NASDAQ:OTTR) from a buy rating to a hold rating in a research note issued to investors on Friday.

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. “

OTTR has been the topic of a number of other research reports. BidaskClub downgraded Otter Tail from a strong-buy rating to a buy rating in a report on Tuesday, December 12th. Sidoti downgraded Otter Tail from a buy rating to a neutral rating and set a $46.00 target price on the stock. in a report on Monday, January 8th. Finally, KeyCorp reaffirmed a hold rating on shares of Otter Tail in a report on Friday, October 20th. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company. The stock currently has a consensus rating of Hold and a consensus price target of $43.00.

Otter Tail (OTTR) opened at $40.40 on Friday. The company has a current ratio of 0.93, a quick ratio of 0.61 and a debt-to-equity ratio of 0.71. Otter Tail has a 1-year low of $35.65 and a 1-year high of $48.65. The company has a market capitalization of $1,600.00, a P/E ratio of 22.44 and a beta of 0.71.

In other news, VP George A. Koeck sold 3,000 shares of the stock in a transaction that occurred on Wednesday, November 15th. The stock was sold at an average price of $46.50, for a total transaction of $139,500.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Kevin G. Moug sold 1,500 shares of the stock in a transaction that occurred on Wednesday, November 15th. The stock was sold at an average price of $46.50, for a total value of $69,750.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 6,900 shares of company stock worth $318,570. 1.40% of the stock is currently owned by company insiders.

Several institutional investors have recently made changes to their positions in the company. Legal & General Group Plc raised its position in shares of Otter Tail by 1.3% during the 2nd quarter. Legal & General Group Plc now owns 12,318 shares of the utilities provider’s stock worth $490,000 after purchasing an additional 160 shares during the period. Principal Financial Group Inc. raised its position in shares of Otter Tail by 3.2% during the 2nd quarter. Principal Financial Group Inc. now owns 8,477 shares of the utilities provider’s stock worth $336,000 after purchasing an additional 260 shares during the period. Ameritas Investment Partners Inc. raised its position in shares of Otter Tail by 9.8% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 3,453 shares of the utilities provider’s stock worth $137,000 after purchasing an additional 309 shares during the period. Advisor Group Inc. raised its position in shares of Otter Tail by 5.3% during the 2nd quarter. Advisor Group Inc. now owns 7,879 shares of the utilities provider’s stock worth $312,000 after purchasing an additional 400 shares during the period. Finally, Ameriprise Financial Inc. raised its position in shares of Otter Tail by 8.8% during the 2nd quarter. Ameriprise Financial Inc. now owns 6,989 shares of the utilities provider’s stock worth $277,000 after purchasing an additional 565 shares during the period. Institutional investors and hedge funds own 41.19% of the company’s stock.

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Otter Tail Company Profile

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).

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