Major Pvc Pipe Makers Accused Of Price-Fixing In Contractor's Lawsuit

Top Wall Street analysts changed their outlook on these top names. For a complete view of all analyst rating changes, including upgrades and downgrades, please see our analyst ratings page.

• Needham cut the price target for Micron Technology Inc from $150 to $140. Needham analyst Quinn Bolton maintained a Buy rating. Micron shares fell 1.4% to close at $102.85 on Friday. See how other analysts view this stock.
• Ascendiant Capital lowered the price target for Aclarion Inc from $1.6 to $1.5. Ascendiant Capital analyst Lucas Ward maintained a Buy rating. Aclarion shares gained 4.9% to close at $0.24 on Friday. See how other analysts view this stock.
• Gordon Haskett raised Ollie’s Bargain Outlet Holdings Inc price target from $105 to $107. Gordon Haskett analyst Eric Cohen upgraded the stock from Accumulate to Buy. Ollie’s Bargain shares gained 1.6% to close at $98.89 on Friday. See how other analysts view this stock.
• Baird boosted the price target for Foot Locker Inc from $26 to $35. Baird analyst Jonathan Komp maintained a Neutral rating. Foot Locker shares fell 0.8% to close at $32.71 on Friday. See how other analysts view this stock.
• Baird raised Peloton Interactive Inc price target from $4 to $4.75. Baird analyst Jonathan Komp maintained a Neutral rating. Peloton Interactive shares gained 6.4% to close at $4.84 on Friday. See how other analysts view this stock.
• Loop Capital cut Baidu Inc price target from $120 to $115. Loop Capital analyst Rob Sanderson maintained a Buy rating. Baidu shares fell 0.1% to close at $85.70 on Friday. See how other analysts view this stock.
• JP Morgan increased the price target for BJ’s Wholesale Club Holdings Inc from $76 to $78. JP Morgan analyst Christopher Horvers upgraded the stock from Underweight to Neutral. BJ’s Wholesale shares gained 1.4% to close at $82.77 on Friday. See how other analysts view this stock.
• Baird boosted SentinelOne Inc price target from $25 to $29. Baird analyst Shrenik Kothari maintained an Outperform rating. SentinelOne shares gained 2.9% to close at $25.26 on Friday. See how other analysts view this stock.
• Wells Fargo raised American Homes 4 Rent price target from $36 to $42. Wells Fargo analyst James Feldman upgraded the stock from Equal-Weight to Overweight. American Homes 4 Rent shares rose 0.6% to close at $38.57 on Friday. See how other analysts view this stock.
• Wells Fargo raised Camden Property Trust price target from $104 to $127. Wells Fargo analyst James Feldman upgraded the stock from Underweight to Equal-Weight. Camden Property Trust shares rose 1.3% to close at $122.60 on Friday. See how other analysts view this stock.

Considering buying MU stock? Here’s what analysts think:

Top Wall Street analysts changed their outlook on these top names. For a complete view of all analyst rating changes, including upgrades and downgrades, please see our analyst ratings page.

• Wells Fargo analyst Edward Kelly upgraded the rating for BJ’s Wholesale Club Holdings, Inc. from Equal-Weight to Overweight and raised the price target from $75 to $92. BJ’s Wholesale shares fell 6.8% to close at $81.66 on Thursday. See how other analysts view this stock.
• HSBC analyst Stephen Bersey upgraded Snowflake Inc. from Reduce to Hold and announced a price target of $121. Snowflake shares fell 14.7% to close at $115.21 on Thursday. See how other analysts view this stock.
• RBC Capital analyst Arun Viswanathan upgraded the rating for Westlake Corporation from Sector Perform to Outperform, while increasing the price target from $157 to $174. Westlake shares fell 0.7% to close at $144.58 on Thursday. See how other analysts view this stock.
• JMP Securities analyst Nicholas Jones upgraded Warby Parker Inc. from Market Perform to Market Outperform and announced a price target of $20. Warby Parker shares fell 1.3% to settle at $13.86 on Thursday. See how other analysts view this stock.
• Wolfe Research analyst Andrew Rosivach upgraded the rating for Gaming and Leisure Properties, Inc. from Peer Perform to Outperform, while announcing a price target of $57. Gaming and Leisure Props shares fell 0.5% to close at $49.74 on Thursday. See how other analysts view this stock. See how other analysts view this stock.

Considering buying SNOW stock? Here’s what analysts think:

Top Wall Street analysts changed their outlook on these top names. For a complete view of all analyst rating changes, including upgrades and downgrades, please see our analyst ratings page.

• Loop Capital raised the price target for Ross Stores, Inc. from $170 to $190. Loop Capital analyst Laura Champine maintained a Buy rating. Ross Stores shares fell 0.9% to close at $152.52 on Thursday. See how other analysts view this stock.
• Wells Fargo raised the price target for BJ’s Wholesale Club Holdings, Inc. from $75 to $92. Wells Fargo analyst Edward Kelly upgraded the stock from Equal-Weight to Overweight. BJ’s Wholesale shares fell 6.8% to close at $81.66 on Thursday. See how other analysts view this stock.
• Baird raised Nordson Corporation price target from $272 to $287. Baird analyst Michael Halloran maintained an Outperform rating. Nordson shares gained 3.3% to close at $256.03 on Thursday. See how other analysts view this stock.
• UBS cut the price target for Las Vegas Sands Corp. from $70 to $49. UBS analyst Robin Farley downgraded the stock from Buy to Neutral. Las Vegas Sands shares fell 0.5% to close at $41.07 on Thursday. See how other analysts view this stock.
• Barclays raised Bilibili Inc. price target from $14 to $19. Barclays analyst Jiong Shao upgraded the stock from Equal-Weight to Overweight. Bilibili shares fell 7.6% to close at $12.96 on Thursday. See how other analysts view this stock.
• JP Morgan cut Peloton Interactive, Inc. price target from $7 to $5. JP Morgan analyst Doug Anmuth downgraded the stock from Overweight to Neutral. Peloton Interactive shares gained 35.4% to close at $4.55 on Thursday. See how other analysts view this stock.
• Stifel increased the price target for Workday, Inc. from $250 to $270. Stifel analyst Brad Reback maintained a Hold rating. Workday shares fell 1% to close at $231.08 on Thursday. See how other analysts view this stock.
• Baird boosted CAVA Group, Inc. price target from $105 to $125.. Baird analyst David Tarantino maintained an Outperform rating. CAVA Group shares fell 0.9% to close at $101.98 on Thursday. See how other analysts view this stock.
• Piper Sandler cut Intuit Inc. price target from $760 to $768. Piper Sandler analyst Arvind Ramnani reiterated an Overweight rating. Intuit shares fell 0.8% to close at $665.29 on Thursday. See how other analysts view this stock.
• RBC Capital raised Westlake Corporation price target from $157 to $174. RBC Capital analyst Arun Viswanathan upgraded the stock from Sector Perform to Outperform. Westlake shares fell 0.7% to close at $144.58 on Thursday. See how other analysts view this stock.

Considering buying ROST stock? Here’s what analysts think:

Jennifer O. Smestad, VP, General Council & Corp Sec of Otter Tail Corp, sold 4,000 shares of Common Stock on August 13, 2024, at a weighted average price of $88.74 per share, totaling $354,960. Following the transaction, Smestad directly owns 12,300 shares and indirectly owns 539 shares through ESOP and by Daughter. The sale was executed automatically under a Rule 10b5-1 trading plan adopted on May 13, 2024.

SEC Filing: Otter Tail Corp [ OTTR ] - Form 4 - Aug. 14, 2024

Otter Tail Corporation, a diversified company with interests in electric utilities and manufacturing, has released its latest SEC 8-K filing, detailing its financial performance for the second quarter ended June 30, 2024. The company reported record earnings, driven by strong performance in its Plastics and Manufacturing segments, despite challenges in the Electric segment due to unfavorable weather conditions.

Financial Highlights

For the second quarter of 2024, Otter Tail Corporation reported a 6% increase in diluted earnings per share (EPS) to $2.07, compared to $1.95 in the same period last year. The company also raised its 2024 earnings guidance midpoint by 8% to $6.92 per share, reflecting a return on equity of 18.7%. Consolidated cash provided by operating activities for the first half of 2024 was $223.5 million, up from $184.5 million in the same period of 2023.

Business and Operational Highlights

The Plastics segment saw a 9% increase in earnings, driven by a 26% rise in sales volumes due to customer growth and improved end market demand. However, this was partially offset by a 13% decline in sales prices. The Manufacturing segment experienced a 15% increase in earnings, primarily due to higher margins at BTD Manufacturing, despite a 5.7% decrease in operating revenues. The Electric segment faced a 6% decline in earnings, attributed to unfavorable weather conditions impacting retail MWh sales and heating and cooling degree days.

Strategic Initiatives and Corporate Developments

Otter Tail Power received approval from the Minnesota Public Utilities Commission for its Integrated Resource Plan, which includes the addition of 200-300 megawatts of solar generation by 2027 and 150-200 megawatts of wind generation and 20-75 megawatts of battery storage by 2029. The company also declared a quarterly common stock dividend of $0.4675 per share, payable on September 10, 2024.

Management's Perspective

President and CEO Chuck MacFarlane expressed satisfaction with the second quarter results, highlighting the strong performance of the Plastics and Manufacturing segments. He acknowledged the challenges faced by the Electric segment due to weather conditions but emphasized the company's efforts to manage costs and mitigate the impact of lower sales volumes. MacFarlane also noted the approval of the Integrated Resource Plan as a significant milestone in the company's transition to cleaner energy.

Future Outlook

Otter Tail Corporation has increased its 2024 diluted earnings per share guidance to a range of $6.77 to $7.07, up from the previous range of $6.23 to $6.53. The company expects its earnings mix for 2024 to be approximately 31% from the Electric segment and 69% from the Manufacturing and Plastics segments. The revised guidance reflects better-than-expected financial results in the second quarter and a slower decline in product sales prices in the Plastics segment.

SEC Filing: Otter Tail Corp [ OTTR ] - 8-K - Aug. 06, 2024