Nutrien (NYSE:NTR) Given a $85.00 Price Target by RBC Dominion Securities Analysts

Nutrien (NYSE:NTR) has been given a $85.00 price objective by research analysts at RBC Dominion Securities in a note issued to investors on Monday, BayStreet reports. The firm currently has an “outperform” rating on the stock. RBC Dominion Securities’ price target would indicate a potential upside of 21.48% from the company’s current price.

NTR has been the subject of several other reports. Scotiabank raised shares of Nutrien from a “sector perform” rating to a “sector outperform” rating and set a $80.00 price objective for the company in a report on Tuesday, June 30th. KeyCorp initiated coverage on shares of Nutrien in a report on Thursday, September 10th. They set a “sector weight” rating and a $73.00 price target for the company. Berenberg Bank set a $65.00 price objective on Nutrien and gave the stock a “hold” rating in a research note on Wednesday, June 10th. Mizuho cut their price objective on Nutrien from $77.00 to $75.00 and set a “neutral” rating for the company in a research report on Tuesday, July 14th. Finally, Royal Bank Of Canada restated an “outperform” rating and set a $85.00 target price on shares of Nutrien in a research note on Friday, September 18th. Eighteen equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $81.33.

Nutrien Stock Down 0.1%

Shares of NYSE:NTR traded down $0.09 on Monday, reaching $69.97. The company had a trading volume of 945,790 shares, compared to its average volume of 3,078,471. The stock has a market capitalization of $33.32 billion, a P/E ratio of 14.18, a P/E/G ratio of 0.75 and a beta of 0.68. The stock has a 50-day moving average price of $72.89 and a 200 day moving average price of $70.93. Nutrien has a twelve month low of $53.03 and a twelve month high of $85.36. The company has a quick ratio of 0.86, a current ratio of 1.39 and a debt-to-equity ratio of 0.36.

Nutrien (NYSE:NTR) last issued its quarterly earnings data on Wednesday, August 5th. The company reported $2.61 earnings per share for the quarter, missing analysts’ consensus estimates of $2.70 by ($0.09). The company had revenue of $10.81 billion during the quarter, compared to the consensus estimate of $10.44 billion. Nutrien had a net margin of 8.44% and a return on equity of 8.88%. The firm’s revenue was up 3.6% on a year-over-year basis. During the same period in the previous year, the business posted $2.65 earnings per share. On average, equities analysts expect that Nutrien will post 4.66 EPS for the current year.

Institutional Investors Weigh In On Nutrien

Institutional investors have recently added to or reduced their stakes in the company. Wellington Management Group LLP acquired a new position in Nutrien in the 2nd quarter valued at approximately $654,081,000. Deutsche Bank AG acquired a new stake in shares of Nutrien during the 2nd quarter worth approximately $588,720,000. The Manufacturers Life Insurance Company acquired a new stake in shares of Nutrien during the 2nd quarter worth approximately $375,178,000. Canada Pension Plan Investment Board acquired a new stake in shares of Nutrien during the 2nd quarter worth approximately $359,318,000. Finally, BlackRock Inc. bought a new stake in shares of Nutrien during the second quarter valued at approximately $220,942,000. 63.10% of the stock is owned by institutional investors and hedge funds.

About Nutrien

Nutrien Ltd. is a Canada-based provider of crop inputs, services and solutions for agricultural producers. The company produces and distributes potash, nitrogen and phosphate products, which are used to support crop nutrition and agricultural productivity. Its product portfolio also includes crop protection products, seed, farm supplies and other agronomic inputs.

Nutrien serves farmers through a broad retail network operating primarily across North and South America, Australia and other international markets.