Nutrien (NYSE:NTR) Price Target Cut to $74.00 by Analysts at National Bank Financial

Nutrien (NYSE:NTR) had its price objective dropped by equities researchers at National Bank Financial from $76.00 to $74.00 in a research note issued to investors on Monday,BayStreet.CA reports. The brokerage currently has an “outperform” rating on the stock. National Bank Financial’s price objective would suggest a potential upside of 12.27% from the company’s current price.

A number of other research firms have also recently commented on NTR. Raymond James Financial upgraded shares of Nutrien from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from $74.00 to $90.00 in a research note on Tuesday, May 5th. Oppenheimer decreased their price target on shares of Nutrien from $82.00 to $80.00 and set an “outperform” rating for the company in a report on Thursday, July 23rd. Barclays reiterated an “overweight” rating and set a $78.00 price objective on shares of Nutrien in a research note on Monday. BNP Paribas Exane raised shares of Nutrien from a “neutral” rating to an “outperform” rating and set a $80.00 price objective on the stock in a report on Tuesday, July 28th. Finally, Weiss Ratings raised Nutrien from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday. Seventeen research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Nutrien has an average rating of “Moderate Buy” and a consensus price target of $81.58.

Nutrien Stock Up 2.3%

Shares of Nutrien stock traded up $1.49 during trading on Monday, reaching $65.91. The company’s stock had a trading volume of 2,090,559 shares, compared to its average volume of 3,181,566. Nutrien has a 1-year low of $53.03 and a 1-year high of $85.36. The company has a 50-day simple moving average of $66.07 and a two-hundred day simple moving average of $70.45. The company has a quick ratio of 0.86, a current ratio of 1.39 and a debt-to-equity ratio of 0.36. The company has a market cap of $31.53 billion, a price-to-earnings ratio of 13.34, a P/E/G ratio of 0.64 and a beta of 0.61.

Nutrien (NYSE:NTR) last released its quarterly earnings results on Wednesday, August 5th. The company reported $2.61 EPS for the quarter, missing analysts’ consensus estimates of $2.70 by ($0.09). The business had revenue of $10.81 billion during the quarter, compared to analysts’ expectations of $10.44 billion. Nutrien had a net margin of 8.44% and a return on equity of 8.88%. The company’s quarterly revenue was up 3.6% compared to the same quarter last year. During the same quarter last year, the business posted $2.65 earnings per share. As a group, equities analysts forecast that Nutrien will post 5.01 earnings per share for the current year.

Institutional Trading of Nutrien

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Wellington Management Group LLP boosted its stake in shares of Nutrien by 440.2% in the fourth quarter. Wellington Management Group LLP now owns 16,338,606 shares of the company’s stock worth $1,008,713,000 after acquiring an additional 13,313,817 shares during the last quarter. Deutsche Bank AG acquired a new position in Nutrien in the 2nd quarter valued at $588,720,000. Norges Bank purchased a new position in Nutrien in the 4th quarter valued at $412,635,000. BlackRock Inc. acquired a new stake in Nutrien during the 2nd quarter worth $220,942,000. Finally, TD Asset Management Inc boosted its stake in Nutrien by 21.2% during the 4th quarter. TD Asset Management Inc now owns 8,928,534 shares of the company’s stock worth $551,821,000 after purchasing an additional 1,559,673 shares during the last quarter. Institutional investors and hedge funds own 63.10% of the company’s stock.

Nutrien Company Profile

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.