The Vanguard Group, Inc. has recently announced that it has increased stake in Otter Tail Corporation (NASDAQ:OTTR) by 2.92%. After grabbing 4.6 million shares, the institutional investor is now in possession of 0.13 million shares of the Utilities Company. The new investment brought the stake of investor firm to 11.05% having worth around $270.01 million. Moreover, Dimensional Fund Advisors LP increased its share by 2875.0 to have a control over 1.04 million shares. And Geode Capital Management LLC raised its holdings to 11523.0 shares by acquiring 0.76 million shares or 1.83% of the stake.
Otter Tail Corporation (OTTR) concluded trading on 01/19/23 at a closing price of $61.33, with 0.16 million shares of worth about $10.0 million changed hands on the day. Half year performance of the stock remained negative as price took a plunge of -7.50% during that period and on Thursday the price saw a gain of about 0.16%. Currently the company’s common shares owned by public are about 41.60M shares, out of which, 40.83M shares are available for trading.
A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 4 analysts are covering the OTTR stock and their offered price forecasts bring an average price target of $67.67. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $75.00 and could fall to a lowest price of $63.00. The stock’s current price level is 9.37% above of average price target set by the analysts, while a rise to estimated low would result in gain of 2.65% for the stock. However, touching the estimated high of $75.00 would mean a gain of 18.23% for the stock.
According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 40 times over the past 12 months. They bought 178,325 shares in 26 of the transactions. In 14 selling transactions, insiders dumped 51,189 shares.
Vanguard Total Stock Market Index, First Trust Value Line Dividend I, and Vanguard Small Cap Index Fund are the top 3 mutual funds which are holding stakes in Otter Tail Corporation Vanguard Total Stock Market Index is currently holding 1.25 million shares of worth totaling $73.39 million. The company recently came buying 1781.0 shares which brought its stake up to 3.00% of the company’s outstanding shares. Vanguard Small Cap Index Fund, after buying 1.07 million shares, have now control over 2.58% of the stake in the company. It holds 88.0 shares of worth $63.07 million.
Otter Tail Corporation (NASDAQ: OTTR) started trading at $61.25, above $0.02 from concluding price of the previous day. However, the stock later moved at a day high price of 61.92, or with a gain of 0.16%. Stock saw a price change of -2.71% in past 5 days and over the past one month there was a price change of 6.16%. Year-to-date (YTD), OTTR shares are showing a performance of 4.46% which decreased to -2.01% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $52.60 but also hit the highest price of $82.46 during that period. The average intraday trading volume for Otter Tail Corporation shares is 172.82K. The stock is currently trading 2.63% above its 20-day simple moving average (SMA20), while that difference is up 5.30% for SMA50 and it goes to -5.66% lower than SMA200.
The Vanguard Group, Inc. acquired 4.6 million shares of Otter Tail Corporation having value of about $270.01 million. Data submitted at the U.S SEC by The Vanguard Group, Inc. revealed that the firm now holds 0.13 million shares in the company valued at close to $8000375.84, or have control over 2.92% stake in the company. Otter Tail Corporation (NASDAQ: OTTR) currently have 41.60M outstanding shares and institutions hold larger chunk of about 58.00% of that. Holding of mutual funds in the company is about 3.20% while other institutional holders and individual stake holders have control over 33.19% and 16.35% of the stake respectively.
The stock has a current market capitalization of $2.56B and its 3Y-monthly beta is at 0.52. PE ratio of stock for trailing 12 months is 8.75, while it has posted earnings per share of $7.01 in the same period. Its PEG reads 0.97 and has Quick Ratio of 1.30 while making debt-to-equity ratio of 0.70. 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 2.21% while standing at 2.33% over the month.
Analysts are in expectations that Otter Tail Corporation (OTTR) stock would likely to be making an EPS of $1.82 in the current quarter, while forecast for next quarter EPS is $1.47 and it is $4.26 for next year. For the current quarter EPS, analysts have given the company a lowest target $1.67 which is $1.98 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 $1.26 in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 80.40% while it is estimated to decrease by -41.13% in next year. EPS is likely to shrink at an annualized rate of 9.00% for next 5-years, compared to annual growth of 21.40% made by the stock over the past 5-years.
Analysts at 4 brokerage firms have issued recommendations for the Otter Tail Corporation (OTTR)’s stock and average of those rates the stock at a “Moderate Buy” and assign it a score of 2.70. Out of those 4 Wall Street analysts, 1 recommended a “Buy” rating, while 3 were in favor recommending the stock as a “Hold” and 0 analyst recommended the stock as “Sell”.
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 November 28, 2022 offering a Hold rating for the stock and assigned a target price of $63 to it. Coverage by Siebert Williams Shank stated Otter Tail Corporation (OTTR) stock as a Sell in their note to investors on August 03, 2022, suggesting a price target of $64 for the stock. On December 16, 2021, Sidoti Downgrade their recommendations, while on August 05, 2020, Sidoti Upgrade their ratings for the stock with a price target of $45. Stock get a Buy rating from Maxim Group on April 24, 2020.