Nutrien (NYSE:NTR) Raised to “Hold” at KeyCorp

Nutrien (NYSE:NTR) was upgraded by equities research analysts at KeyCorp to a “hold” rating in a research report issued on Thursday, Zacks reports.

Other equities analysts also recently issued reports about the company. Morgan Stanley reduced their price target on Nutrien from $93.00 to $81.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 7th. Scotia upgraded Nutrien from a “sector perform” rating to a “sector outperform” rating and set a $80.00 target price on the stock in a research note on Tuesday, June 30th. BNP Paribas Exane raised Nutrien from a “neutral” rating to an “outperform” rating and set a $80.00 target price on the stock in a research report on Tuesday, July 28th. Barclays decreased their price target on Nutrien from $81.00 to $78.00 and set an “overweight” rating for the company in a research note on Monday, August 10th. Finally, Oppenheimer lowered their price target on Nutrien from $82.00 to $80.00 and set an “outperform” rating for the company in a report on Thursday, July 23rd. Seventeen research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $81.15.

Nutrien Stock Down 0.3%

Shares of NYSE:NTR traded down $0.27 during trading on Thursday, reaching $78.47. The stock had a trading volume of 2,268,760 shares, compared to its average volume of 3,121,405. The firm’s 50-day simple moving average is $70.43 and its 200 day simple moving average is $71.09. The company has a current ratio of 1.39, a quick ratio of 0.86 and a debt-to-equity ratio of 0.36. Nutrien has a one year low of $53.03 and a one year high of $85.36. The company has a market capitalization of $37.44 billion, a P/E ratio of 15.88, a PEG ratio of 0.86 and a beta of 0.62.

Nutrien (NYSE:NTR) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $2.61 EPS for the quarter, missing the consensus estimate of $2.70 by ($0.09). Nutrien had a return on equity of 8.88% and a net margin of 8.44%.The firm had revenue of $10.81 billion for the quarter, compared to the consensus estimate of $10.44 billion. During the same quarter last year, the firm earned $2.65 EPS. The company’s revenue was up 3.6% compared to the same quarter last year. As a group, research analysts expect that Nutrien will post 4.71 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of NTR. Wellington Management Group LLP boosted its position in Nutrien by 440.2% in 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 during the last quarter. Deutsche Bank AG lifted its stake in 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 period. TD Asset Management Inc lifted 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 valued at $551,821,000 after acquiring an additional 1,559,673 shares during the period. Mackenzie Financial Corp boosted its holdings in shares of Nutrien by 4.4% in the 4th quarter. Mackenzie Financial Corp now owns 7,219,733 shares of the company’s stock valued at $450,310,000 after acquiring an additional 305,458 shares during the last quarter. Finally, Norges Bank purchased a new stake in shares of Nutrien in the 4th quarter valued at $412,635,000. 63.10% of the stock is currently owned by hedge funds and other institutional investors.

About Nutrien

Nutrien Ltd. (NYSE:NTR) is a global provider of crop inputs and agricultural services. The company produces and distributes essential nutrients, including potash, nitrogen and phosphate products, which farmers use to support crop growth and improve yields.

Through its retail operations, Nutrien supplies farmers with seed, crop protection products, fertilizers and agronomic services. Its retail network also provides farm management recommendations, application services and other solutions designed to help growers manage their operations and use agricultural inputs more efficiently.

Nutrien was formed in 2018 through the merger of Potash Corporation of Saskatchewan and Agrium.