Otis Worldwide Corporation (NYSE:OTIS) saw a downside of -0.68% to close Tuesday at $82.95 after subtracting -$0.57 on the day. The 5-day average trading volume is 2,023,000 shares of the company’s common stock. It has gained $86.19 in the past week and touched a new high 1 time within the past 5 days. An average of 2,030,830 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 1,823,344.
OTIS’s 1-month performance is -4.91% or -$4.30 on its low of $82.76 reached on 08/22/23. The company’s shares have touched a 52-week low of $62.49 and high of $91.33, with the stock’s rally to the 52-week high happening on 07/27/23. YTD, OTIS has achieved 5.93% or $4.64 and has reached a new high 22 times. However, the current price is down -9.18% from the 52-week high price.
Insider Transactions
OTIS stock investors last saw insider trading activity on Jul 28.Ryan Michael Patrick (VP, CAO & Controller) most recently sold 6,372 shares at $90.50 per share on Jul 28. This transaction cost the insider $576,676. President, Otis EMEA, Calleja Fernandez Bernardo, sold 3,992 shares at a price of $90.70 on Jul 28. Then, on Mar 06, President, Otis EMEA Calleja Fernandez Bernardo sold 703 shares at a price of $86.85 per share. This transaction amounted to $61,058.
Valuation Metrics
OTIS stock has a beta of 0.87. Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 2.47 while the price to cash flow ratio at 26.19.
Otis Worldwide Corporation’s quick ratio for the period ended June 29 was 0.80, with the current ratio over the same period at 0.90.. In terms of profitability, the gross margin trailing 12 months is 29.00%. The firm’s gross profit as reported stood at $3.92 billion against revenue of $13.69 billion.
Earnings Surprise
For the quarterly period ending June 29 this year, Net income and sales went up compared to those figures reported in the previous quarter. Net income grew 14.63% to $376.0 million, while revenue of $331.0 million was 11.97% off the previous quarter. Analysts expected OTIS to announce $0.86 per share in earnings in its latest quarter, but it posted $0.92, representing a 7.00% surprise. EBITDA for the quarter stood at more than $632.0 million. OTIS stock balance sheet for the quarter ending June 29 shows that total liabilities totaled 14.89 billion, with total debt at $7.17 billion. Shareholders hold equity totaling $411.75 million.
Let’s look briefly at Otis Worldwide Corporation (OTIS) price momentum from a technical analysis perspective. The 9-day relative strength index as at close on 22 August was 20.22% to suggest the stock is trending oversold, with historical volatility in this time period at 5.87%.
The stock’s 5-day moving average is $83.88, reflecting a -3.25% or -$2.79 change from its current price. OTIS is currently trading -5.28% above its 20-day SMA, +0.14% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 by -3.16% and SMA200 by+18.15%.
Stochastic %K and %D was 5.67% and 4.90% and the average true range (ATR) pointed at 1.45. The RSI (14) points at 29.28%, while the 14-day stochastic is at 2.53% with the period’s ATR at 1.48. The stock’s 9-day MACD Oscillator is pointing at -1.86 and -3.22 on the 14-day charts.
Analyst Ratings
In the most recent analyst report for Otis Worldwide Corporation (NYSE: OTIS), Wells Fargo upgraded it to an Equal weight rating. They previously had an Underweight rating on the stock. Analysts offering their rating for OTIS stock have a consensus rating for the stock as Overweight. Currently, 0 brokerage advisors rate OTIS as a “sell,”, while 7 advise that investors “Hold.” 1 analysts have rated the stock as underweight. 1 rates the stock as overweight while 5 have offered a “buy” rating.
What is OTIS’s price target for the next 12 months?
Analysts have a consensus price target ranging from a low of $78.00 and a high of $100.00, with their median price target at $92.00. Looking at these predictions, the average price target given by analysts is for Otis Worldwide Corporation (OTIS) stock is $90.62.
