Otis Worldwide (NYSE:OTIS) Stock Rating Lowered by Exane BNP Paribas

Otis Worldwide (NYSE:OTIS – Get Rating) was downgraded by equities researchers at Exane BNP Paribas from an “outperform” rating to a “neutral” rating in a research note issued to investors on Tuesday, The Fly reports. They currently have a $80.00 price target on the stock, down from their prior price target of $95.00. Exane BNP Paribas’ price target suggests a potential upside of 11.27% from the company’s current price.

OTIS has been the subject of a number of other reports. Barclays upgraded Otis Worldwide from an “equal weight” rating to an “overweight” rating and set a $82.00 target price for the company in a report on Tuesday, May 24th. Cowen decreased their price objective on Otis Worldwide from $91.00 to $85.00 and set an “outperform” rating for the company in a research note on Tuesday, April 26th. Wells Fargo & Company decreased their price objective on Otis Worldwide from $73.00 to $69.00 and set an “underweight” rating for the company in a research note on Wednesday, June 29th. Credit Suisse Group decreased their price objective on Otis Worldwide from $88.00 to $81.00 and set a “neutral” rating for the company in a research note on Tuesday, April 26th. Finally, Berenberg Bank decreased their price objective on Otis Worldwide from $88.00 to $80.00 and set a “buy” rating for the company in a research note on Wednesday, June 22nd. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $81.74.

Shares of NYSE:OTIS opened at $71.90 on Tuesday. The business has a 50-day moving average price of $72.89 and a 200 day moving average price of $77.30. The company has a market capitalization of $30.40 billion, a price-to-earnings ratio of 24.71 and a beta of 0.85. Otis Worldwide has a 12-month low of $66.97 and a 12-month high of $92.84.

Otis Worldwide (NYSE:OTIS – Get Rating) last announced its earnings results on Monday, April 25th. The company reported $0.77 EPS for the quarter, beating analysts’ consensus estimates of $0.75 by $0.02. Otis Worldwide had a negative return on equity of 35.81% and a net margin of 8.73%. The company had revenue of $3.41 billion during the quarter, compared to analysts’ expectations of $3.45 billion. During the same period last year, the business posted $0.72 EPS. Otis Worldwide’s revenue for the quarter was up .2% on a year-over-year basis. On average, sell-side analysts expect that Otis Worldwide will post 3.25 EPS for the current year.

Hedge funds have recently bought and sold shares of the stock. NuWave Investment Management LLC purchased a new stake in Otis Worldwide during the first quarter worth approximately $26,000. CVA Family Office LLC increased its position in Otis Worldwide by 483.3% during the fourth quarter. CVA Family Office LLC now owns 315 shares of the company’s stock worth $27,000 after buying an additional 261 shares during the period. Curi Wealth Management LLC acquired a new position in Otis Worldwide during the fourth quarter worth approximately $27,000. LFA Lugano Financial Advisors SA acquired a new position in Otis Worldwide during the first quarter worth approximately $27,000. Finally, Elmwood Wealth Management Inc. acquired a new position in Otis Worldwide during the fourth quarter worth approximately $28,000. Hedge funds and other institutional investors own 83.32% of the company’s stock.

Otis Worldwide Company Profile (Get Rating)

Otis Worldwide Corporation manufactures, installs, and services elevators and escalators in the United States, China, and internationally. The company operates in two segments, New Equipment and Service. The New Equipment segment designs, manufactures, sells, and installs a range of passenger and freight elevators, as well as escalators and moving walkways for residential and commercial buildings, and infrastructure projects.

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