Otis Worldwide (NYSE:OTIS) Upgraded by Sanford C. Bernstein to “Strong-Buy” Rating

Otis Worldwide (NYSE:OTIS) was upgraded by analysts at Sanford C. Bernstein to a “strong-buy” rating in a research note issued on Tuesday,Zacks.com reports.

Several other research firms have also recently issued reports on OTIS. Royal Bank Of Canada lowered their price objective on Otis Worldwide from $110.00 to $105.00 and set an “outperform” rating on the stock in a report on Thursday, April 23rd. Evercore assumed coverage on Otis Worldwide in a report on Monday, April 13th. They issued an “outperform” rating and a $100.00 price objective on the stock. Wolfe Research cut Otis Worldwide from an “outperform” rating to a “peer perform” rating in a report on Wednesday, April 8th. UBS Group set a $105.00 target price on Otis Worldwide in a report on Thursday, April 23rd. Finally, Barclays lowered their target price on Otis Worldwide from $80.00 to $77.00 and set an “underweight” rating on the stock in a report on Thursday, April 23rd. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $97.58.

Otis Worldwide Stock Performance

NYSE OTIS opened at $69.69 on Tuesday. Otis Worldwide has a fifty-two week low of $69.16 and a fifty-two week high of $101.42. The stock has a 50-day simple moving average of $75.31 and a two-hundred day simple moving average of $83.34. The firm has a market capitalization of $26.74 billion, a P/E ratio of 18.53, a PEG ratio of 2.32 and a beta of 0.91.

Otis Worldwide (NYSE:OTIS) last posted its quarterly earnings data on Wednesday, April 22nd. The company reported $0.89 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.91 by ($0.02). The company had revenue of $3.57 billion for the quarter, compared to analysts’ expectations of $3.77 billion. Otis Worldwide had a net margin of 10.11% and a negative return on equity of 29.39%. The business’s revenue for the quarter was up 6.4% on a year-over-year basis. During the same period in the previous year, the business earned $0.92 earnings per share. Otis Worldwide has set its FY 2026 guidance at 4.200-4.240 EPS. As a group, analysts forecast that Otis Worldwide will post 4.2 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the company. Stance Capital LLC purchased a new stake in shares of Otis Worldwide during the third quarter worth $27,000. Camelot Portfolios LLC purchased a new stake in shares of Otis Worldwide during the fourth quarter worth $26,000. Garton & Associates Financial Advisors LLC purchased a new position in Otis Worldwide in the fourth quarter valued at $27,000. Elevation Wealth Partners LLC purchased a new position in Otis Worldwide in the fourth quarter valued at $32,000. Finally, Kohmann Bosshard Financial Services LLC purchased a new position in Otis Worldwide in the fourth quarter valued at $33,000. 88.03% of the stock is currently owned by institutional investors and hedge funds.

Otis Worldwide Company Profile

Otis Worldwide Corporation is a manufacturer, installer and servicer of vertical transportation systems, including elevators, escalators and moving walkways. The company designs and supplies new equipment for commercial, residential and industrial buildings, and provides ongoing maintenance and repair services aimed at maximizing equipment availability and safety. Otis also offers modernization solutions to upgrade aging systems and improve performance, accessibility and energy efficiency.

In addition to new equipment sales, a significant portion of Otis’s business derives from long-term service contracts and responsive maintenance work.