Nutrien (NYSE:NTR) Raised to Sector Outperform at Scotia

Nutrien (NYSE:NTR) was upgraded by Scotia from a “sector perform” rating to a “sector outperform” rating in a report released on Tuesday,BayStreet.CA reports. The brokerage currently has a $80.00 target price on the stock. Scotia’s price objective points to a potential upside of 25.97% from the stock’s previous close.

Several other brokerages have also recently weighed in on NTR. Royal Bank Of Canada raised their price target on shares of Nutrien from $80.00 to $85.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 7th. Zacks Research cut shares of Nutrien from a “strong-buy” rating to a “hold” rating in a report on Monday, March 2nd. Berenberg Bank set a $65.00 target price on shares of Nutrien and gave the company a “hold” rating in a research report on Wednesday, June 10th. Scotiabank upgraded shares of Nutrien from a “sector perform” rating to a “sector outperform” rating and set a $80.00 price target on the stock in a research note on Tuesday. Finally, Barclays boosted their price target on shares of Nutrien from $70.00 to $80.00 and gave the stock an “equal weight” rating in a research report on Tuesday, March 3rd. Thirteen research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $81.61.

Nutrien Stock Up 3.8%

Shares of NTR stock traded up $2.33 on Tuesday, hitting $63.51. 3,833,851 shares of the stock were exchanged, compared to its average volume of 3,340,943. The company has a current ratio of 1.24, a quick ratio of 0.59 and a debt-to-equity ratio of 0.35. The firm has a market capitalization of $30.44 billion, a P/E ratio of 12.92, a price-to-earnings-growth ratio of 0.56 and a beta of 0.60. The business has a 50-day moving average of $68.71 and a 200 day moving average of $69.55. Nutrien has a fifty-two week low of $53.03 and a fifty-two week high of $85.36.

Nutrien (NYSE:NTR) last announced its earnings results on Wednesday, May 6th. The company reported $0.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.48 by $0.03. The business had revenue of $6.05 billion for the quarter, compared to analyst estimates of $5.30 billion. Nutrien had a return on equity of 8.84% and a net margin of 8.58%.Nutrien’s revenue for the quarter was up 18.5% compared to the same quarter last year. During the same quarter last year, the firm earned $0.11 EPS. Equities analysts anticipate that Nutrien will post 5.45 EPS for the current year.

Institutional Trading of Nutrien

Large investors have recently added to or reduced their stakes in the company. Wellington Management Group LLP increased its stake in shares of Nutrien by 440.2% during the 4th quarter. Wellington Management Group LLP now owns 16,338,606 shares of the company’s stock worth $1,008,713,000 after purchasing an additional 13,313,817 shares during the last quarter. Norges Bank acquired a new stake in Nutrien in the 4th quarter valued at about $412,635,000. Arrowstreet Capital Limited Partnership lifted its stake in Nutrien by 19.1% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 14,221,381 shares of the company’s stock valued at $834,962,000 after purchasing an additional 2,276,651 shares during the last quarter. TD Asset Management Inc grew its holdings in Nutrien by 21.2% during the fourth quarter. TD Asset Management Inc now owns 8,928,534 shares of the company’s stock worth $551,821,000 after purchasing an additional 1,559,673 shares during the period. Finally, DJE Kapital AG grew its holdings in Nutrien by 1,373.6% during the first quarter. DJE Kapital AG now owns 1,534,869 shares of the company’s stock worth $116,111,000 after purchasing an additional 1,430,708 shares during the period. Institutional investors and hedge funds own 63.10% of the company’s stock.

Nutrien Company Profile

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.