Nutrien (NYSE:NTR) Given Outperform Rating at Royal Bank Of Canada

Nutrien (NYSE:NTR)‘s stock had its “outperform” rating restated by stock analysts at Royal Bank Of Canada in a research note issued to investors on Friday, September 18th, Marketbeat Ratings reports. They presently have a $85.00 price target on the stock. Royal Bank Of Canada’s price objective would suggest a potential upside of 17.64% from the company’s current price.

Several other research firms have also commented on NTR. Scotiabank raised shares of Nutrien from a “sector perform” rating to a “sector outperform” rating and set a $80.00 price objective on the stock in a research note on Tuesday, June 30th. National Bank Financial dropped their price objective on shares of Nutrien from $76.00 to $74.00 and set an “outperform” rating on the stock in a research note on Monday, August 10th. Mizuho dropped their price objective on shares of Nutrien from $77.00 to $75.00 and set a “neutral” rating on the stock in a research note on Tuesday, July 14th. KeyCorp assumed coverage on shares of Nutrien in a research note on Thursday, September 10th. They set a “sector weight” rating and a $73.00 price objective on the stock. Finally, Morgan Stanley dropped their price objective on shares of Nutrien from $93.00 to $81.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 7th. Seventeen 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’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $81.15.

Nutrien Stock Down 2.3%

NYSE:NTR traded down $1.71 during mid-day trading on Friday, hitting $72.25. 3,102,612 shares of the company’s stock were exchanged, compared to its average volume of 3,106,884. Nutrien has a one year low of $53.03 and a one year high of $85.36. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.39 and a quick ratio of 0.86. The business has a fifty day moving average price of $72.50 and a 200 day moving average price of $71.28. The company has a market cap of $34.40 billion, a PE ratio of 14.63, a P/E/G ratio of 0.81 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 business had revenue of $10.81 billion for the quarter, compared to the consensus estimate of $10.44 billion. During the same period in the previous year, the firm earned $2.65 EPS. The company’s revenue was up 3.6% on a year-over-year basis. Equities analysts predict that Nutrien will post 4.66 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in NTR. Minot DeBlois Advisors LLC grew its stake in Nutrien by 1.8% during 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 grew its stake in Nutrien by 15.9% during the first quarter. Banque Cantonale Vaudoise now owns 1,198 shares of the company’s stock worth $90,000 after buying an additional 164 shares during the period. Gould Asset Management LLC CA grew its stake in Nutrien by 4.4% during the first quarter. Gould Asset Management LLC CA now owns 3,933 shares of the company’s stock worth $297,000 after buying an additional 165 shares during the period. EverSource Wealth Advisors LLC grew its stake in Nutrien by 21.8% during the fourth quarter. EverSource Wealth Advisors LLC now owns 983 shares of the company’s stock worth $61,000 after buying an additional 176 shares during the period. Finally, Assenagon Asset Management S.A. grew its stake in Nutrien by 1.2% during the first quarter. Assenagon Asset Management S.A. now owns 15,822 shares of the company’s stock worth $1,191,000 after buying an additional 183 shares during the period. Institutional investors own 63.10% of the company’s stock.

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.