Nutrien (NYSE:NTR) Price Target Cut to $58.00 by Analysts at Oppenheimer

Nutrien (NYSE:NTR) had its price objective decreased by Oppenheimer from $60.00 to $58.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Oppenheimer’s price target would indicate a potential upside of 9.24% from the company’s current price.

Other research analysts have also issued reports about the stock. Mizuho raised their price objective on shares of Nutrien from $52.00 to $55.00 and gave the stock a “neutral” rating in a report on Thursday, February 20th. Scotiabank lifted their price target on Nutrien from $60.00 to $62.00 and gave the stock a “sector outperform” rating in a research note on Monday, February 24th. Wells Fargo & Company upped their price objective on Nutrien from $53.00 to $56.00 and gave the company an “equal weight” rating in a research note on Friday, February 21st. The Goldman Sachs Group started coverage on Nutrien in a report on Thursday, March 13th. They issued a “sell” rating and a $53.00 price target for the company. Finally, CIBC raised their price objective on Nutrien from $64.00 to $66.00 and gave the stock an “outperformer” rating in a research note on Tuesday, February 25th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Nutrien currently has a consensus rating of “Moderate Buy” and an average target price of $59.27.

Nutrien Stock Up 1.0 %

Shares of Nutrien stock traded up $0.54 during trading hours on Tuesday, hitting $53.10. 144,279 shares of the company’s stock traded hands, compared to its average volume of 2,075,439. The company has a quick ratio of 0.82, a current ratio of 1.27 and a debt-to-equity ratio of 0.38. Nutrien has a twelve month low of $43.70 and a twelve month high of $60.87. The stock has a 50 day simple moving average of $50.92 and a 200-day simple moving average of $49.27. The company has a market cap of $25.96 billion, a PE ratio of 38.76, a PEG ratio of 1.19 and a beta of 0.77.

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

Institutional Investors Weigh In On Nutrien

Hedge funds have recently made changes to their positions in the business. Covea Finance increased its position in Nutrien by 13.5% in the 1st quarter. Covea Finance now owns 63,100 shares of the company’s stock valued at $3,138,000 after acquiring an additional 7,500 shares during the period. Blue Trust Inc. grew its stake in shares of Nutrien by 78.2% in the first quarter. Blue Trust Inc. now owns 6,078 shares of the company’s stock worth $302,000 after purchasing an additional 2,668 shares in the last quarter. Kingswood Wealth Advisors LLC acquired a new position in shares of Nutrien during the first quarter valued at $517,000. Seed Wealth Management Inc. bought a new stake in shares of Nutrien during the first quarter valued at about $204,000. Finally, Birch Hill Investment Advisors LLC lifted its holdings in Nutrien by 10.0% in the first quarter. Birch Hill Investment Advisors LLC now owns 12,050 shares of the company’s stock worth $599,000 after purchasing an additional 1,100 shares during the period. Institutional investors own 63.10% of the company’s stock.

About Nutrien

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.