Following The Money: Institution’s Growing Stake In Otter Tail Corporation (NASDAQ: OTTR)

Otter Tail Corporation (OTTR) concluded trading on Thursday at a closing price of $86.40, with 0.48 million shares of worth about $41.85 million changed hands on the day. Half year performance of the stock remained positive as price took a surge of 9.30% during that period and on March 28, 2024 the price saw a gain of about 1.47%. Currently the company’s common shares owned by public are about 41.71M shares, out of which, 40.84M shares are available for trading.

Stock saw a price change of 6.31% in past 5 days and over the past one month there was a price change of -2.70%. Year-to-date (YTD), OTTR shares are showing a performance of 1.68% which increased to 21.35% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $68.96 but also hit the highest price of $99.49 during that period. The average intraday trading volume for Otter Tail Corporation shares is 274.86K. The stock is currently trading 3.12% above its 20-day simple moving average (SMA20), while that difference is down -1.20% for SMA50 and it goes to 5.89% higher than SMA200.

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Otter Tail Corporation (NASDAQ: OTTR) currently have 41.71M outstanding shares and institutions hold larger chunk of about 61.63% of that.

The stock has a current market capitalization of $3.61B and its 3Y-monthly beta is at 0.56. PE ratio of stock for trailing 12 months is 12.35, while it has posted earnings per share of $7.00 in the same period. Its PEG reads 1.37 and has Quick Ratio of 1.36 while making debt-to-equity ratio of 0.64. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for OTTR, volatility over the week remained 2.01% while standing at 2.23% over the month.

Analysts are in expectations that Otter Tail Corporation (OTTR) stock would likely to be making an EPS of $1.45 in the current quarter, while forecast for next quarter EPS is $1.51 and it is $4.18 for next year. For the current quarter EPS, analysts have given the company a lowest target $1.43 which is $1.49 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $1.49 in the same quarter a year ago. Stock’s fiscal year EPS is expected to drop by -23.04% while it is estimated to decrease by -21.81% in next year. EPS is likely to shrink at an annualized rate of 9.00% for next 5-years, compared to annual growth of 27.66% made by the stock over the past 5-years.

Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Siebert Williams Shank on May 03, 2023 offering a Sell rating for the stock and assigned a target price of $68 to it. On November 28, 2022, Siebert Williams Shank Upgrade their recommendations, while on August 03, 2022, Siebert Williams Shank Downgrade their ratings for the stock with a price target of $64. Stock get a Neutral rating from Sidoti on December 16, 2021.

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