Agrium Inc. (AGU) Given New $115.00 Price Target at Royal Bank Of Canada
Agrium Inc. (NYSE:AGU) (TSE:AGU) had its price objective increased by Royal Bank Of Canada from $110.00 to $115.00 in a research note issued to investors on Friday morning. The firm currently has an outperform rating on the basic materials company’s stock.
AGU has been the subject of a number of other reports. OTR Global raised shares of Agrium to a neutral rating in a report on Tuesday. Cowen and Company set a $99.00 price target on shares of Agrium and gave the company a buy rating in a report on Friday, July 28th. Stifel Nicolaus reissued a buy rating and issued a $116.00 price target (up from $107.00) on shares of Agrium in a report on Friday, August 11th. TD Securities increased their price target on shares of Agrium from $99.00 to $102.00 and gave the company a hold rating in a report on Thursday, August 10th. Finally, Zacks Investment Research downgraded shares of Agrium from a hold rating to a sell rating in a report on Tuesday, July 4th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the company. Agrium has an average rating of Hold and a consensus price target of $106.36.
Shares of Agrium (AGU) traded up 2.07% during midday trading on Friday, hitting $105.12. 464,894 shares of the stock were exchanged. Agrium has a 12-month low of $87.78 and a 12-month high of $111.88. The firm has a market cap of $14.53 billion, a P/E ratio of 25.36 and a beta of 0.62. The stock’s 50 day moving average is $99.03 and its 200 day moving average is $95.19.
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The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 19th. Stockholders of record on Friday, September 29th will be issued a dividend of $0.875 per share. This represents a $3.50 dividend on an annualized basis and a dividend yield of 3.33%. The ex-dividend date of this dividend is Thursday, September 28th. Agrium’s payout ratio is 84.34%.
A number of hedge funds have recently made changes to their positions in AGU. Tower Research Capital LLC TRC lifted its holdings in Agrium by 138.8% during the 1st quarter. Tower Research Capital LLC TRC now owns 1,564 shares of the basic materials company’s stock valued at $150,000 after purchasing an additional 909 shares during the last quarter. Edmond DE Rothschild Holding S.A. lifted its holdings in Agrium by 11.4% during the 2nd quarter. Edmond DE Rothschild Holding S.A. now owns 1,715 shares of the basic materials company’s stock valued at $155,000 after purchasing an additional 175 shares during the last quarter. V Wealth Management LLC bought a new position in Agrium during the 2nd quarter valued at about $156,000. Envestnet Asset Management Inc. lifted its holdings in Agrium by 4.8% during the 1st quarter. Envestnet Asset Management Inc. now owns 2,247 shares of the basic materials company’s stock valued at $212,000 after purchasing an additional 103 shares during the last quarter. Finally, M&T Bank Corp bought a new position in Agrium during the 1st quarter valued at about $234,000. 66.42% of the stock is owned by hedge funds and other institutional investors.
Agrium Inc is a retailer of agricultural products and services in the United States, Canada, Australia, Argentina, Brazil, Chile and Uruguay and a multi-national producer and wholesale marketer of nutrients for agricultural and industrial markets. The Company’s segments include Retail and Wholesale. As of December 31, 2016, its Retail business unit marketed crop nutrients, crop protection products, seed, merchandise, application and other agronomic services through 1,500 retail locations in the United States, Canada, Australia, Argentina, Brazil, Chile and Uruguay.
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