Otter Tail Corporation [OTTR] Stock trading around $72.00 per share: What’s Next?

Otter Tail Corporation [NASDAQ: OTTR] gained 3.36% on the last trading session, reaching $72.00 price per share at the time. The company report on February 16, 2023 that UFP Industries Set to Join S&P MidCap 400; Otter Tail to Join S&P SmallCap 600.

S&P SmallCap 600 constituent UFP Industries Inc. (NASD: UFPI) will replace LHC Group Inc. (NASD: LHCG) in the S&P MidCap 400, and Otter Tail Corp.

(NASD: OTTR) will replace UFP Industries in the S&P SmallCap 600 effective prior to the opening of trading on Thursday, February 23. S&P 500 constituent UnitedHealth Group Inc. (NYSE: UNH) is acquiring LHC Group in a deal expected to be completed soon pending final conditions.

Otter Tail Corporation represents 41.60 million in outstanding shares, while the company has a total market value of $2.64 billion with the latest information. OTTR stock price has been found in the range of $69.36 to $72.94.

If compared to the average trading volume of 192.68K shares, OTTR reached a trading volume of 9923110 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 Otter Tail Corporation [OTTR]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for OTTR shares is $67.67 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on OTTR stock is a recommendation set at 2.70. 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.

Siebert Williams Shank have made an estimate for Otter Tail Corporation shares, keeping their opinion on the stock as Hold, with their previous recommendation back on November 28, 2022. While these analysts kept the previous recommendation, Siebert Williams Shank raised their target price from $62 to $64. The new note on the price target was released on August 03, 2022, representing the official price target for Otter Tail Corporation stock. Previously, the target price had yet another raise to $72, while Sidoti analysts kept a Neutral rating on OTTR stock.

The Average True Range (ATR) for Otter Tail Corporation is set at 2.44, with the Price to Sales ratio for OTTR stock in the period of the last 12 months amounting to 1.81. The Price to Book ratio for the last quarter was 2.46, with the Price to Cash per share for the same quarter was set at 3.24. Price to Free Cash Flow for OTTR in the course of the last twelve months was 17.68 with Quick ratio for the last quarter at 1.30.

Trading performance analysis for OTTR stock

Otter Tail Corporation [OTTR] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 17.70. With this latest performance, OTTR shares gained by 16.75% in over the last four-week period, additionally sinking by -9.04% over the last 6 months – not to mention a rise of 19.17% 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 OTTR stock in for the last two-week period is set at 70.76, with the RSI for the last a single of trading hit 73.32, and the three-weeks RSI is set at 68.30 for Otter Tail Corporation [OTTR]. The present Moving Average for the last 50 days of trading for this stock 61.79, while it was recorded at 67.42 for the last single week of trading, and 65.26 for the last 200 days.

Otter Tail Corporation [OTTR]: A deeper dive into fundamental analysis

Otter Tail Corporation’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.30 and a Current Ratio set at 1.90.

Otter Tail Corporation [OTTR]: An earnings per share (EPS) analysis

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 OTTR. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Otter Tail Corporation go to 9.00%.

An analysis of insider ownership at Otter Tail Corporation [OTTR]

There are presently around $1,475 million, or 58.00% of OTTR stock, in the hands of institutional investors. The top three institutional holders of OTTR stocks are: VANGUARD GROUP INC with ownership of 4,908,646, which is approximately 4.908% of the company’s market cap and around 1.96% of the total institutional ownership; BLACKROCK INC., holding 3,134,226 shares of the stock with an approximate value of $225.66 million in OTTR stocks shares; and FIRST TRUST ADVISORS LP, currently with $92.56 million in OTTR stock with ownership of nearly 27.86% of the company’s market capitalization.

123 institutional holders increased their position in Otter Tail Corporation [NASDAQ:OTTR] by around 1,611,769 shares. Additionally, 135 investors decreased positions by around 1,712,582 shares, while 49 investors held positions by with 17,155,184 shares. The mentioned changes placed institutional holdings at 20,479,535 shares, according to the latest SEC report filing. OTTR stock had 37 new institutional investments in for a total of 332,578 shares, while 52 institutional investors sold positions of 434,538 shares during the same period.