Otis Worldwide Corp [NYSE: OTIS] stock went on an upward path that rose over 0.19% on Thursday, amounting to a one-week price increase of more than 1.60%. The company report on March 7, 2024 at 4:01 PM that EXL Announces Appointment of Thomas Bartlett to Board of Directors and Retirement of Board Member Som Mittal.
Bartlett Brings Decades of Executive Leadership Experience; Mittal Completes 10+ Year Service to EXL.
Over the last 12 months, OTIS stock rose by 18.05%. The one-year Otis Worldwide Corp stock forecast points to a potential downside of -2.55. The average equity rating for OTIS stock is currently 2.33, trading closer to a bullish pattern in the stock market.
The market cap for the stock reached $39.93 billion, with 406.60 million shares outstanding and 404.59 million shares in the current float. Compared to the average trading volume of 2.16M shares, OTIS stock reached a trading volume of 3305902 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Guru’s Opinion on Otis Worldwide Corp [OTIS]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for OTIS shares is $96.04 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 2.33. 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.
Argus have made an estimate for Otis Worldwide Corp shares, keeping their opinion on the stock as Buy, with their previous recommendation back on February 22, 2024. The new note on the price target was released on January 02, 2024, representing the official price target for Otis Worldwide Corp stock. Previously, the target price had yet another raise to $87, while UBS analysts kept a Neutral rating on OTIS stock. On May 01, 2023, analysts increased their price target for OTIS shares from 75 to 88.
The Average True Range (ATR) for Otis Worldwide Corp is set at 1.31, with the Price to Sales ratio for OTIS stock in the period of the last 12 months amounting to 2.81. Price to Free Cash Flow for OTIS in the course of the last twelve months was 26.82 with Quick ratio for the last quarter at 0.89.
OTIS Stock Performance Analysis:
Otis Worldwide Corp [OTIS] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 1.60. With this latest performance, OTIS shares gained by 9.32% in over the last four-week period, additionally plugging by 21.16% over the last 6 months – not to mention a rise of 18.05% 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 71.70, with the RSI for the last a single of trading hit 73.73, and the three-weeks RSI is set at 69.71 for Otis Worldwide Corp [OTIS]. The present Moving Average for the last 50 days of trading for this stock 91.17, while it was recorded at 97.64 for the last single week of trading, and 86.27 for the last 200 days.
Insight into Otis Worldwide Corp Fundamentals:
Otis Worldwide Corp’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.89 and a Current Ratio set at 0.99.
OTIS Stock EPS
With the latest financial reports released by the company, Otis Worldwide Corp posted 0.8/share EPS, while the average EPS was predicted by analysts to be reported at 0.76/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 5.30%. 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 Corp go to 10.15%.
Otis Worldwide Corp [OTIS] Institutonal Ownership Details
The top three institutional holders of OTIS stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in OTIS stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in OTIS stock with ownership which is approximately 5.8325%.
