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

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

NTR has been the topic of several other reports. Canadian Imperial Bank of Commerce decreased their price objective on shares of Nutrien from $90.00 to $88.00 and set an “outperformer” rating on the stock in a report on Thursday, April 30th. JPMorgan Chase & Co. upped their price objective on Nutrien from $78.00 to $80.00 and gave the company an “overweight” rating in a report on Monday. Jefferies Financial Group raised shares of Nutrien from a “hold” rating to a “buy” rating and boosted their target price for the company from $74.00 to $96.00 in a research report on Thursday, March 12th. Bank of America raised shares of Nutrien from a “neutral” rating to a “buy” rating and set a $82.00 price target on the stock in a research report on Thursday, April 30th. Finally, Weiss Ratings downgraded shares of Nutrien from a “buy (b-)” rating to a “hold (c)” rating in a report on Thursday. Eleven equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Nutrien presently has a consensus rating of “Moderate Buy” and a consensus target price of $82.75.

Nutrien Stock Performance

NYSE NTR traded up $0.39 during trading on Tuesday, reaching $71.68. 1,455,750 shares of the company’s stock were exchanged, compared to its average volume of 3,507,859. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.24 and a quick ratio of 0.59. The business has a 50 day moving average price of $74.81 and a 200-day moving average price of $67.14. The stock has a market capitalization of $34.46 billion, a P/E ratio of 14.57 and a beta of 0.64. Nutrien has a fifty-two week low of $53.03 and a fifty-two week high of $85.36.

Nutrien (NYSE:NTR) last issued its earnings results on Wednesday, May 6th. The company reported $0.51 EPS for the quarter, topping the consensus estimate of $0.48 by $0.03. Nutrien had a return on equity of 8.84% and a net margin of 8.58%.The company had revenue of $6.05 billion during the quarter, compared to the consensus estimate of $5.30 billion. During the same period in the previous year, the company posted $0.11 EPS. The firm’s revenue for the quarter was up 18.5% compared to the same quarter last year. Sell-side analysts forecast that Nutrien will post 5.09 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Guggenheim Capital LLC increased its holdings in Nutrien by 2.2% in the 4th quarter. Guggenheim Capital LLC now owns 6,628 shares of the company’s stock valued at $409,000 after buying an additional 145 shares during the period. Minot DeBlois Advisors LLC lifted its holdings in shares of Nutrien by 1.8% during the 4th quarter. Minot DeBlois Advisors LLC now owns 9,032 shares of the company’s stock worth $557,000 after acquiring an additional 164 shares during the period. Banque Cantonale Vaudoise lifted its holdings in shares of Nutrien by 15.9% during the 1st quarter. Banque Cantonale Vaudoise now owns 1,198 shares of the company’s stock worth $90,000 after acquiring an additional 164 shares during the period. Gould Asset Management LLC CA boosted its position in shares of Nutrien by 4.4% during the 1st quarter. Gould Asset Management LLC CA now owns 3,933 shares of the company’s stock worth $297,000 after acquiring an additional 165 shares in the last quarter. Finally, Smith Moore & CO. increased its stake in Nutrien by 2.2% in the third quarter. Smith Moore & CO. now owns 7,642 shares of the company’s stock valued at $449,000 after acquiring an additional 168 shares during the last quarter. 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.