HSBC Securities lifts Otis Worldwide Corporation [OTIS] price estimate. Who else is bullish?

Otis Worldwide Corporation [NYSE: OTIS] loss -0.14% on the last trading session, reaching $77.36 price per share at the time. The company report on May 20, 2021 that Otis CEO to Present at Bernstein Strategic Decisions Conference.

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Otis Worldwide Corporation (NYSE: OTIS) President & CEO Judy Marks will speak at the Bernstein 37th Annual Strategic Decisions Virtual Conference on Thursday, June 3, 2021 at 10:00 a.m. EDT. The presentation will be broadcast live at www.otis.com.

About OtisOtis is the world’s leading elevator and escalator manufacturing, installation and service company. We move 2 billion people a day and maintain more than 2 million customer units worldwide, the industry’s largest Service portfolio. Headquartered in Connecticut, USA, Otis is 69,000 people strong, including 40,000 field professionals, all committed to meeting the diverse needs of our customers and passengers in more than 200 countries and territories worldwide. For more information, visit www.otis.com and follow us on LinkedIn, Instagram, Facebook and Twitter @OtisElevatorCo.

Otis Worldwide Corporation represents 431.60 million in outstanding shares, while the company has a total market value of $32.47 billion with the latest information. OTIS stock price has been found in the range of $76.86 to $77.86.

If compared to the average trading volume of 2.74M shares, OTIS reached a trading volume of 6720609 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about Otis Worldwide Corporation [OTIS]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for OTIS shares is $81.88 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on OTIS stock is a recommendation set at 2.20. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

HSBC Securities have made an estimate for Otis Worldwide Corporation shares, keeping their opinion on the stock as Hold, with their previous recommendation back on March 29, 2021. While these analysts kept the previous recommendation, Berenberg raised their target price to Buy. The new note on the price target was released on March 16, 2021, representing the official price target for Otis Worldwide Corporation stock.

The Average True Range (ATR) for Otis Worldwide Corporation is set at 1.48, with the Price to Sales ratio for OTIS stock in the period of the last 12 months amounting to 2.46. Price to Free Cash Flow for OTIS in the course of the last twelve months was 22.27 with Quick ratio for the last quarter at 0.90.

Trading performance analysis for OTIS stock

Otis Worldwide Corporation [OTIS] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 0.27. With this latest performance, OTIS shares gained by 8.90% in over the last four-week period, additionally plugging by 15.12% over the last 6 months – not to mention a rise of 45.47% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for OTIS stock in for the last two-week period is set at 57.46, with the RSI for the last a single of trading hit 51.97, and the three-weeks RSI is set at 59.90 for Otis Worldwide Corporation [OTIS]. The present Moving Average for the last 50 days of trading for this stock 72.51, while it was recorded at 78.26 for the last single week of trading, and 66.25 for the last 200 days.

Otis Worldwide Corporation [OTIS]: A deeper dive into fundamental analysis

Operating Margin for any stock indicates how profitable investing would be, and Otis Worldwide Corporation [OTIS] shares currently have an operating margin of +14.97 and a Gross Margin at +29.77. Otis Worldwide Corporation’s Net Margin is presently recorded at +7.10.

Return on Total Capital for OTIS is now 61.76, given the latest momentum, and Return on Invested Capital for the company is 46.66. Additionally, OTIS Total Debt to Total Capital is recorded at 243.79, with Total Debt to Total Assets ending up at 60.66.

Reflecting on the efficiency of the workforce at the company, Otis Worldwide Corporation [OTIS] managed to generate an average of $13,130 per employee. Receivables Turnover for the company is 3.65 with a Total Asset Turnover recorded at a value of 1.25.Otis Worldwide Corporation’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.90 and a Current Ratio set at 1.00.

Otis Worldwide Corporation [OTIS]: An earnings per share (EPS) analysis

With the latest financial reports released by the company, Otis Worldwide Corporation posted 0.56/share EPS, while the average EPS was predicted by analysts to be reported at 0.44/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 27.30%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for OTIS. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Otis Worldwide Corporation go to 11.02%.

An analysis of insider ownership at Otis Worldwide Corporation [OTIS]

There are presently around $28,829 million, or 89.80% of OTIS stock, in the hands of institutional investors. The top three institutional holders of OTIS stocks are: VANGUARD GROUP INC with ownership of 37,824,096, which is approximately 0.982% of the company’s market cap and around 0.04% of the total institutional ownership; BLACKROCK INC., holding 34,379,844 shares of the stock with an approximate value of $2.66 billion in OTIS stocks shares; and STATE STREET CORP, currently with $2.06 billion in OTIS stock with ownership of nearly -20.913% of the company’s market capitalization.

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Positions in Otis Worldwide Corporation stocks held by institutional investors increased at the end of April and at the time of the April reporting period, where 412 institutional holders increased their position in Otis Worldwide Corporation [NYSE:OTIS] by around 35,093,410 shares. Additionally, 642 investors decreased positions by around 37,995,537 shares, while 187 investors held positions by with 299,040,223 shares. The mentioned changes placed institutional holdings at 372,129,170 shares, according to the latest SEC report filing. OTIS stock had 88 new institutional investments in for a total of 3,983,731 shares, while 119 institutional investors sold positions of 3,707,708 shares during the same period.

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