Oppenheimer Forecasts Strong Price Appreciation for Nutrien (NYSE:NTR) Stock

Nutrien (NYSE:NTR) had its price target upped by equities researchers at Oppenheimer from $80.00 to $82.00 in a research report issued on Tuesday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Oppenheimer’s price target would suggest a potential upside of 14.40% from the company’s current price.

NTR has been the subject of a number of other reports. Scotiabank increased their price target on Nutrien from $75.00 to $80.00 and gave the company a “sector perform” rating in a research note on Monday. Bank of America raised Nutrien from a “neutral” rating to a “buy” rating and set a $82.00 target price for the company in a report on Thursday, April 30th. Weiss Ratings downgraded Nutrien from a “buy (b-)” rating to a “hold (c)” rating in a research report on Thursday. Mizuho upped their price objective on Nutrien from $65.00 to $68.00 and gave the company a “neutral” rating in a research note on Friday, January 16th. Finally, Wells Fargo & Company upgraded shares of Nutrien from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $77.00 to $100.00 in a report on Friday, March 13th. Eleven analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $82.75.

Nutrien Price Performance

Nutrien stock traded up $0.39 during midday trading on Tuesday, reaching $71.68. The company’s stock had a trading volume of 1,455,750 shares, compared to its average volume of 3,507,859. The stock has a market cap of $34.46 billion, a PE ratio of 14.57 and a beta of 0.64. The company has a current ratio of 1.24, a quick ratio of 0.59 and a debt-to-equity ratio of 0.35. Nutrien has a 52 week low of $53.03 and a 52 week high of $85.36. The business has a 50-day moving average price of $74.81 and a 200-day moving average price of $67.14.

Nutrien (NYSE:NTR) last released its quarterly earnings data on Wednesday, May 6th. The company reported $0.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.48 by $0.03. The business had revenue of $6.05 billion during the quarter, compared to analysts’ expectations of $5.30 billion. Nutrien had a net margin of 8.58% and a return on equity of 8.84%. The firm’s quarterly revenue was up 18.5% compared to the same quarter last year. During the same period in the prior year, the company earned $0.11 EPS. On average, sell-side analysts predict that Nutrien will post 5.09 EPS for the current year.

Institutional Trading of Nutrien

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NTR. Montag A & Associates Inc. raised its holdings in Nutrien by 310.7% during the 4th quarter. Montag A & Associates Inc. now owns 423 shares of the company’s stock worth $26,000 after purchasing an additional 320 shares during the last quarter. Evolution Wealth Management Inc. acquired a new stake in shares of Nutrien during the first quarter worth $32,000. Root Financial Partners LLC bought a new position in Nutrien during the third quarter worth $37,000. Sfam LLC bought a new position in Nutrien during the fourth quarter worth $37,000. Finally, Eastern Bank lifted its holdings in Nutrien by 133.0% in the fourth quarter. Eastern Bank now owns 699 shares of the company’s stock valued at $43,000 after buying an additional 399 shares during the period. Institutional investors and hedge funds own 63.10% of the company’s stock.

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.