Agrium Inc. (NYSE:AGU) Downgraded by Zacks Investment Research to Sell
Agrium Inc. (NYSE:AGU) (TSE:AGU) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Tuesday, July 4th.
According to Zacks, “Estimates for Agrium for second-quarter 2017 have been going down of late. Agrium is still reeling under the effects of the depressed prices of crop nutrients which is expected to continue to weigh on its sales and earnings. Nitrogen and potash prices remain under pressure. The crop pricing environment is also expected to remain soft in the near term. The company also faces challenging agriculture market fundamentals.”
Several other analysts have also recently issued reports on AGU. Sanford C. Bernstein assumed coverage on Agrium in a report on Monday, March 6th. They issued an “outperform” rating and a $119.00 target price for the company. Scotiabank reiterated a “sector perform” rating and set a $110.00 price target on shares of Agrium in a report on Tuesday, May 2nd. TD Securities set a $99.00 price target on Agrium and gave the stock a “hold” rating in a report on Wednesday, May 3rd. Citigroup Inc. lowered their price target on Agrium from $111.00 to $104.00 and set a “neutral” rating for the company in a report on Tuesday, April 11th. Finally, Credit Suisse Group reiterated a “hold” rating and set a $91.00 price target on shares of Agrium in a report on Friday, April 21st. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and ten have given a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $103.00.
Agrium (AGU) traded up 0.15% during mid-day trading on Tuesday, hitting $100.95. 539,671 shares of the stock were exchanged. Agrium has a 52-week low of $87.75 and a 52-week high of $111.88. The stock has a market cap of $13.95 billion, a price-to-earnings ratio of 24.06 and a beta of 0.62. The stock has a 50 day moving average of $95.34 and a 200-day moving average of $96.17.
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Several large investors have recently modified their holdings of AGU. Tower Research Capital LLC TRC increased its stake in shares of Agrium by 138.8% in the first quarter. Tower Research Capital LLC TRC now owns 1,564 shares of the basic materials company’s stock valued at $150,000 after buying an additional 909 shares during the last quarter. V Wealth Management LLC bought a new stake in shares of Agrium during the second quarter valued at $156,000. Envestnet Asset Management Inc. boosted its position in Agrium by 4.8% in the first quarter. Envestnet Asset Management Inc. now owns 2,247 shares of the basic materials company’s stock valued at $212,000 after buying an additional 103 shares during the period. M&T Bank Corp acquired a new position in Agrium during the first quarter valued at approximately $234,000. Finally, Creative Planning boosted its position in Agrium by 6.1% in the first quarter. Creative Planning now owns 2,746 shares of the basic materials company’s stock valued at $262,000 after buying an additional 159 shares during the period. 69.26% of the stock is owned by institutional investors.
Agrium Inc is a retailer of agricultural products and services in the United States, Canada, Australia, Argentina, Brazil, Chile and Uruguay and a multi-national producer and wholesale marketer of nutrients for agricultural and industrial markets. The Company’s segments include Retail and Wholesale. As of December 31, 2016, its Retail business unit marketed crop nutrients, crop protection products, seed, merchandise, application and other agronomic services through 1,500 retail locations in the United States, Canada, Australia, Argentina, Brazil, Chile and Uruguay.
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