JP Morgan slashes price target on Otis Worldwide Corporation [OTIS] – find out why.

Otis Worldwide Corporation [NYSE: OTIS] closed the trading session at $72.22 on 08/31/22. The day’s price range saw the stock hit a low of $71.83, while the highest price level was $73.49. The company report on August 22, 2022 that Otis Celebrates the Opening of its New Training Center in Southeast Asia.

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Opening of Center demonstrates our commitment to supporting customers in the growing markets in Southeast Asia.

Provides hands-on training for field operations and product development colleagues.

The stocks have a year to date performance of -17.06 percent and weekly performance of -6.66 percent. The stock has been moved at -8.33 percent over the last six months. The stock has performed -6.76 percent around the most recent 30 days and changed -2.37 percent over the most recent 3-months.

If compared to the average trading volume of 2.24M shares, OTIS reached to a volume of 3349166 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say 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 $81.25 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 2.40. 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.

JP Morgan have made an estimate for Otis Worldwide Corporation shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on July 07, 2022. The new note on the price target was released on July 05, 2022, representing the official price target for Otis Worldwide Corporation stock. Previously, the target price had yet another raise to $82, while Barclays analysts kept a Overweight rating on OTIS stock.

The Average True Range (ATR) for Otis Worldwide Corporation is set at 1.54, with the Price to Sales ratio for OTIS stock in the period of the last 12 months amounting to 2.24. Price to Free Cash Flow for OTIS in the course of the last twelve months was 33.84 with Quick ratio for the last quarter at 0.90.

OTIS stock trade performance evaluation

Otis Worldwide Corporation [OTIS] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -6.66. With this latest performance, OTIS shares dropped by -6.76% in over the last four-week period, additionally sinking by -8.33% over the last 6 months – not to mention a drop of -21.69% 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 32.54, with the RSI for the last a single of trading hit 22.84, and the three-weeks RSI is set at 39.05 for Otis Worldwide Corporation [OTIS]. The present Moving Average for the last 50 days of trading for this stock 74.48, while it was recorded at 74.51 for the last single week of trading, and 77.76 for the last 200 days.

Otis Worldwide Corporation [OTIS]: An insightful look at the core fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Otis Worldwide Corporation [OTIS] shares currently have an operating margin of +15.20 and a Gross Margin at +29.43. Otis Worldwide Corporation’s Net Margin is presently recorded at +8.71.

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.

Earnings per share (EPS) analysis for Otis Worldwide Corporation [OTIS] stock

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 8.80%.

Otis Worldwide Corporation [OTIS]: Insider Ownership positions

There are presently around $25,613 million, or 86.70% of OTIS stock, in the hands of institutional investors. The top three institutional holders of OTIS stocks are: VANGUARD GROUP INC with ownership of 39,570,876, which is approximately 1.134% of the company’s market cap and around 0.05% of the total institutional ownership; BLACKROCK INC., holding 35,781,471 shares of the stock with an approximate value of $2.58 billion in OTIS stocks shares; and STATE STREET CORP, currently with $1.17 billion in OTIS stock with ownership of nearly -2.452% of the company’s market capitalization.

Positions in Otis Worldwide Corporation stocks held by institutional investors increased at the end of July and at the time of the July reporting period, where 420 institutional holders increased their position in Otis Worldwide Corporation [NYSE:OTIS] by around 24,356,278 shares. Additionally, 576 investors decreased positions by around 23,908,777 shares, while 208 investors held positions by with 306,389,374 shares. The mentioned changes placed institutional holdings at 354,654,429 shares, according to the latest SEC report filing. OTIS stock had 58 new institutional investments in for a total of 5,643,785 shares, while 107 institutional investors sold positions of 7,050,632 shares during the same period.


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