Royal Bank Of Canada Reaffirms “Outperform” Rating for Nutrien (NYSE:NTR)

Nutrien (NYSE:NTR)‘s stock had its “outperform” rating reaffirmed by investment analysts at Royal Bank Of Canada in a note issued to investors on Friday, Benzinga reports. They presently have a $85.00 price target on the stock. Royal Bank Of Canada’s target price suggests a potential upside of 9.67% from the company’s previous close.

NTR has been the subject of several other research reports. Morgan Stanley dropped their target price on Nutrien from $93.00 to $81.00 and set an “overweight” rating for the company in a research report on Tuesday, July 7th. Weiss Ratings raised Nutrien from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, August 6th. KeyCorp started coverage on Nutrien in a report on Thursday, September 10th. They set a “sector weight” rating and a $73.00 price objective for the company. Mizuho cut their price objective on Nutrien from $77.00 to $75.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 14th. Finally, BNP Paribas Exane upgraded Nutrien from a “neutral” rating to an “outperform” rating and set a $80.00 target price on the stock in a research note on Tuesday, July 28th. Seventeen equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $81.15.

Nutrien Price Performance

Nutrien stock opened at $77.50 on Friday. The firm has a 50-day moving average price of $71.72 and a 200-day moving average price of $71.27. The firm has a market capitalization of $36.98 billion, a PE ratio of 15.69, a price-to-earnings-growth ratio of 0.83 and a beta of 0.62. 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 12-month low of $53.03 and a 12-month high of $85.36.

Nutrien (NYSE:NTR) last issued its quarterly earnings results 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 net margin of 8.44% and a return on equity of 8.88%. The firm had revenue of $10.81 billion for the quarter, compared to the consensus estimate of $10.44 billion. During the same quarter in the previous year, the company posted $2.65 earnings per share. The business’s revenue for the quarter was up 3.6% on a year-over-year basis. As a group, equities research analysts forecast that Nutrien will post 4.66 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of NTR. Minot DeBlois Advisors LLC boosted its holdings in shares of Nutrien by 1.8% in the fourth quarter. Minot DeBlois Advisors LLC now owns 9,032 shares of the company’s stock worth $557,000 after buying an additional 164 shares during the period. Banque Cantonale Vaudoise raised its holdings in shares of Nutrien by 15.9% during the first quarter. Banque Cantonale Vaudoise now owns 1,198 shares of the company’s stock valued at $90,000 after acquiring an additional 164 shares during the period. Gould Asset Management LLC CA raised its holdings in shares of Nutrien by 4.4% during the first quarter. Gould Asset Management LLC CA now owns 3,933 shares of the company’s stock valued at $297,000 after acquiring an additional 165 shares during the period. EverSource Wealth Advisors LLC lifted its position in shares of Nutrien by 21.8% in the 4th quarter. EverSource Wealth Advisors LLC now owns 983 shares of the company’s stock valued at $61,000 after acquiring an additional 176 shares in the last quarter. Finally, Assenagon Asset Management S.A. lifted its position in shares of Nutrien by 1.2% in the 1st quarter. Assenagon Asset Management S.A. now owns 15,822 shares of the company’s stock valued at $1,191,000 after acquiring an additional 183 shares in the last quarter. Institutional investors and hedge funds own 63.10% of the company’s stock.

Nutrien Company Profile

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.