Scotiabank Increases Nutrien (NYSE:NTR) Price Target to $62.00

Nutrien (NYSE:NTR) had its price objective hoisted by Scotiabank from $60.00 to $62.00 in a report issued on Monday,Benzinga reports. The brokerage presently has a “sector outperform” rating on the stock. Scotiabank’s price target indicates a potential upside of 19.06% from the company’s previous close.

NTR has been the topic of a number of other research reports. Piper Sandler raised their target price on shares of Nutrien from $58.00 to $63.00 and gave the company an “overweight” rating in a research report on Monday, January 27th. Wells Fargo & Company boosted their price objective on Nutrien from $53.00 to $56.00 and gave the stock an “equal weight” rating in a research report on Friday. Mizuho increased their target price on Nutrien from $52.00 to $55.00 and gave the company a “neutral” rating in a research report on Thursday. UBS Group lifted their price target on Nutrien from $53.00 to $54.00 and gave the company a “neutral” rating in a research note on Thursday. Finally, Barclays reaffirmed an “equal weight” rating and issued a $56.00 price objective (up previously from $55.00) on shares of Nutrien in a research note on Tuesday, January 21st. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $59.50.

Nutrien Price Performance

NTR traded down $0.52 during trading on Monday, hitting $52.07. 217,627 shares of the stock traded hands, compared to its average volume of 2,347,097. The business has a 50 day moving average price of $49.41 and a 200 day moving average price of $48.25. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.27 and a quick ratio of 0.82. Nutrien has a twelve month low of $43.69 and a twelve month high of $60.87. The company has a market cap of $25.51 billion, a price-to-earnings ratio of 37.96, a PEG ratio of 1.19 and a beta of 0.81.

Nutrien (NYSE:NTR) last posted its quarterly earnings results on Wednesday, February 19th. The company reported $0.28 EPS for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.09). Nutrien had a return on equity of 6.81% and a net margin of 2.62%. The business had revenue of $5.08 billion for the quarter, compared to analyst estimates of $5.09 billion. Equities research analysts forecast that Nutrien will post 3.72 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Nutrien

A number of hedge funds have recently added to or reduced their stakes in the business. Fairway Wealth LLC acquired a new stake in shares of Nutrien during the 4th quarter worth approximately $27,000. HHM Wealth Advisors LLC boosted its stake in Nutrien by 331.0% during the fourth quarter. HHM Wealth Advisors LLC now owns 625 shares of the company’s stock worth $28,000 after acquiring an additional 480 shares in the last quarter. Assetmark Inc. grew its holdings in Nutrien by 1,437.5% in the fourth quarter. Assetmark Inc. now owns 738 shares of the company’s stock worth $33,000 after purchasing an additional 690 shares during the period. Asset Planning Inc bought a new stake in Nutrien in the fourth quarter valued at $35,000. Finally, Exchange Traded Concepts LLC raised its holdings in shares of Nutrien by 96.7% during the fourth quarter. Exchange Traded Concepts LLC now owns 846 shares of the company’s stock valued at $38,000 after purchasing an additional 416 shares during the period. 63.10% of the stock is currently owned by institutional investors.

Nutrien Company Profile

Nutrien Ltd. provides crop inputs and services. The company operates through four segments: Retail, Potash, Nitrogen, and Phosphate. The Retail segment distributes crop nutrients, crop protection products, seeds, and merchandise products. The Potash segment provides granular and standard potash products.