Oppenheimer Raises Nutrien (NYSE:NTR) Price Target to $63.00

Nutrien (NYSE:NTR) had its price objective boosted by research analysts at Oppenheimer from $58.00 to $63.00 in a research report issued to clients and investors on Tuesday, Marketbeat Ratings reports. The brokerage presently has an “outperform” rating on the stock. Oppenheimer’s price target would suggest a potential upside of 10.74% from the stock’s previous close.

Several other equities analysts have also recently weighed in on NTR. TD Securities increased their price target on Nutrien from $64.00 to $67.00 and gave the company a “buy” rating in a report on Monday. Barclays upped their price objective on Nutrien from $56.00 to $59.00 and gave the stock an “equal weight” rating in a research note on Wednesday, March 5th. Mizuho upped their price objective on Nutrien from $52.00 to $55.00 and gave the stock a “neutral” rating in a research note on Thursday, February 20th. Piper Sandler upped their price objective on Nutrien from $58.00 to $63.00 and gave the stock an “overweight” rating in a research note on Monday, January 27th. Finally, BNP Paribas upgraded Nutrien to a “strong-buy” rating in a research note on Wednesday, April 9th. Two research analysts have rated the stock with a sell rating, six have given a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $61.44.

Nutrien Price Performance

NYSE NTR opened at $56.89 on Tuesday. The business’s fifty day moving average price is $52.35 and its 200-day moving average price is $50.14. The stock has a market capitalization of $27.78 billion, a price-to-earnings ratio of 41.53, a PEG ratio of 1.19 and a beta of 0.79. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.27 and a quick ratio of 0.82. Nutrien has a 1-year low of $43.70 and a 1-year high of $60.87.

Nutrien (NYSE:NTR) last released its quarterly earnings results on Wednesday, May 7th. The company reported $0.11 earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.24). The firm had revenue of $4.67 billion for the quarter, compared to the consensus estimate of $5.16 billion. Nutrien had a net margin of 2.62% and a return on equity of 6.81%. Nutrien’s quarterly revenue was down 5.4% compared to the same quarter last year. During the same period in the previous year, the company earned $0.46 earnings per share. On average, equities analysts predict that Nutrien will post 3.72 earnings per share for the current year.

Hedge Funds Weigh In On Nutrien

Several hedge funds have recently modified their holdings of the stock. Fairway Wealth LLC bought a new stake in Nutrien in the 4th quarter valued at $27,000. HHM Wealth Advisors LLC grew its position in shares of Nutrien by 331.0% during the fourth quarter. HHM Wealth Advisors LLC now owns 625 shares of the company’s stock valued at $28,000 after purchasing an additional 480 shares in the last quarter. Harbour Investments Inc. increased its holdings in shares of Nutrien by 94.8% in the first quarter. Harbour Investments Inc. now owns 715 shares of the company’s stock worth $35,000 after purchasing an additional 348 shares during the last quarter. Assetmark Inc. lifted its position in shares of Nutrien by 1,437.5% in the fourth quarter. Assetmark Inc. now owns 738 shares of the company’s stock worth $33,000 after buying an additional 690 shares in the last quarter. Finally, Asset Planning Inc bought a new position in Nutrien during the fourth quarter valued at approximately $35,000. Hedge funds and other 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.