Otter Tail Co. (NASDAQ:OTTR) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Sunday, MarketBeat reports.

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. “

Shares of Otter Tail (NASDAQ:OTTR) traded up 3.49% during midday trading on Friday, reaching $27.84. The company had a trading volume of 178,094 shares. The company has a market capitalization of $1.05 billion and a P/E ratio of 18.84. Otter Tail has a 12 month low of $24.82 and a 12 month high of $33.44. The firm’s 50 day moving average price is $26.61 and its 200-day moving average price is $26.60.

Otter Tail (NASDAQ:OTTR) last posted its quarterly earnings results on Monday, November 2nd. The company reported $0.42 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.44 by $0.02. The company had revenue of $200.02 million for the quarter, compared to analysts’ expectations of $202.65 million. The firm’s quarterly revenue was up 1.8% on a year-over-year basis. During the same period in the previous year, the business earned $0.43 earnings per share. Analysts anticipate that Otter Tail will post $1.59 earnings per share for the current fiscal year.

A number of hedge funds and institutional investors have bought and sold shares of the company. Nationwide Fund Advisors raised its position in Otter Tail by 2.5% in the fourth quarter. Nationwide Fund Advisors now owns 24,764 shares of the company’s stock valued at $659,000 after buying an additional 612 shares during the period. California State Teachers Retirement System raised its position in Otter Tail by 1.8% in the fourth quarter. California State Teachers Retirement System now owns 69,506 shares of the company’s stock valued at $1,851,000 after buying an additional 1,246 shares during the period. Commonwealth Equity Services raised its position in Otter Tail by 18.9% in the fourth quarter. Commonwealth Equity Services now owns 40,133 shares of the company’s stock valued at $1,069,000 after buying an additional 6,366 shares during the period. ICON Advisers raised its position in Otter Tail by 33.5% in the third quarter. ICON Advisers now owns 35,500 shares of the company’s stock valued at $925,000 after buying an additional 8,900 shares during the period. Finally, Iowa State Bank acquired a new position in Otter Tail during the fourth quarter valued at about $362,000.

Otter Tail Corporation is a holding company, through its subsidiaries, operates in three segments: Electric, Manufacturing and Plastics. The Company is engaged in the production, transmission, distribution and sale of electric energy in Minnesota, North Dakota and South Dakota. It also conducts manufacturing activities, such as contract machining, metal parts stamping and fabrication, and production of material and handling trays, horticultural containers and produce packaging. It is also involved in producing polyvinyl chloride (NASDAQ:OTTR) pipe at plants in North Dakota and Arizona. Otter Tail Power Company (OTP) is a wholly owned subsidiary of the company. The Company’s manufacturing and plastic pipe businesses are owned by its wholly owned subsidiary, Varistar Corporation (Varistar).

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