Bank of America Raises Nutrien (NYSE:NTR) Price Target to $81.00

Nutrien (NYSE:NTR) had its target price boosted by analysts at Bank of America from $75.00 to $81.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm presently has a “neutral” rating on the stock. Bank of America‘s price target points to a potential upside of 3.43% from the company’s previous close.

Other equities research analysts also recently issued research reports about the stock. BNP Paribas Exane downgraded shares of Nutrien from an “outperform” rating to a “neutral” rating in a research report on Monday, February 23rd. Mizuho increased their target price on Nutrien from $65.00 to $68.00 and gave the company a “neutral” rating in a report on Friday, January 16th. Morgan Stanley raised Nutrien from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $70.00 to $77.00 in a research report on Wednesday, January 14th. Royal Bank Of Canada upped their price target on Nutrien from $75.00 to $80.00 and gave the company an “outperform” rating in a research report on Monday, February 23rd. Finally, Barclays lifted their target price on Nutrien from $70.00 to $80.00 and gave the company an “equal weight” rating in a research note on Tuesday, March 3rd. Eleven equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Nutrien presently has a consensus rating of “Hold” and a consensus price target of $77.11.

Nutrien Trading Down 1.6%

Shares of NYSE:NTR traded down $1.24 during midday trading on Wednesday, reaching $78.31. The company had a trading volume of 1,142,210 shares, compared to its average volume of 3,508,463. The company has a fifty day simple moving average of $70.89 and a two-hundred day simple moving average of $62.96. The firm has a market cap of $37.68 billion, a price-to-earnings ratio of 16.82 and a beta of 0.70. Nutrien has a 1-year low of $45.78 and a 1-year high of $85.36. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.70 and a current ratio of 1.34.

Nutrien (NYSE:NTR) last posted its quarterly earnings data on Wednesday, February 18th. The company reported $0.83 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.87 by ($0.04). Nutrien had a return on equity of 8.41% and a net margin of 8.43%.The company had revenue of $5.12 billion for the quarter, compared to analyst estimates of $5.26 billion. During the same quarter in the previous year, the firm posted $0.31 EPS. Nutrien’s quarterly revenue was up 5.1% on a year-over-year basis. Research analysts predict that Nutrien will post 3.72 earnings per share for the current year.

Institutional Trading of Nutrien

A number of institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its holdings in shares of Nutrien by 2.2% during the 4th quarter. Vanguard Group Inc. now owns 22,463,277 shares of the company’s stock valued at $1,386,546,000 after purchasing an additional 479,834 shares in the last quarter. Wellington Management Group LLP raised its holdings in Nutrien by 440.2% during the fourth quarter. Wellington Management Group LLP now owns 16,338,606 shares of the company’s stock valued at $1,008,713,000 after buying an additional 13,313,817 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its position in shares of Nutrien by 19.1% in the third quarter. Arrowstreet Capital Limited Partnership now owns 14,221,381 shares of the company’s stock worth $834,962,000 after buying an additional 2,276,651 shares during the last quarter. First Eagle Investment Management LLC boosted its stake in shares of Nutrien by 0.5% during the 4th quarter. First Eagle Investment Management LLC now owns 13,307,283 shares of the company’s stock worth $821,326,000 after acquiring an additional 70,068 shares in the last quarter. Finally, Deutsche Bank AG increased its holdings in shares of Nutrien by 2.0% during the 4th quarter. Deutsche Bank AG now owns 9,798,196 shares of the company’s stock valued at $604,745,000 after acquiring an additional 189,683 shares during the last quarter. 63.10% of the stock is currently owned by institutional investors and hedge funds.

About Nutrien

Nutrien Ltd. is a global fertilizer and agricultural-services company headquartered in Saskatoon, Saskatchewan, Canada. The company is publicly traded and operates across the farm input value chain, combining upstream fertilizer production with a broad retail and services platform aimed at supporting crop production worldwide. Nutrien’s business model integrates the manufacture and distribution of crop nutrients with on-the-ground agronomic support for growers and agricultural businesses.

Nutrien produces and supplies the three primary fertilizer nutrients—potash, nitrogen and phosphate—through its wholesale operations, and markets a wide range of crop inputs including seeds and crop protection products.