Agrium Inc. (AGU) Receives Consensus Rating of “Buy” from Brokerages
Agrium Inc. (NYSE:AGU) (TSE:AGU) has been assigned an average recommendation of “Buy” from the sixteen research firms that are currently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, six have assigned a hold recommendation and nine have given a buy recommendation to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $113.71.
A number of brokerages recently commented on AGU. JPMorgan Chase & Co. decreased their target price on Agrium from $100.00 to $95.00 and set a “neutral” rating for the company in a report on Friday, November 24th. Royal Bank of Canada restated a “buy” rating and set a $115.00 target price on shares of Agrium in a report on Wednesday, October 18th. Cowen upped their target price on Agrium from $109.00 to $120.00 and gave the company an “outperform” rating in a report on Wednesday, November 22nd. TD Securities restated a “buy” rating and set a $134.00 target price on shares of Agrium in a report on Friday, November 10th. Finally, Stephens began coverage on Agrium in a report on Monday, December 4th. They set an “overweight” rating and a $131.00 target price for the company.
Shares of Agrium (NYSE AGU) remained flat at $$115.00 during mid-day trading on Friday. The company has a quick ratio of 0.78, a current ratio of 1.29 and a debt-to-equity ratio of 0.70. Agrium has a fifty-two week low of $87.82 and a fifty-two week high of $117.28. The company has a market capitalization of $15,890.00, a price-to-earnings ratio of 29.49, a P/E/G ratio of 2.18 and a beta of 0.64.
The firm also recently announced a quarterly dividend, which was paid on Thursday, January 18th. Investors of record on Friday, December 29th were issued a dividend of $0.875 per share. The ex-dividend date of this dividend was Thursday, December 28th. This represents a $3.50 dividend on an annualized basis and a dividend yield of 3.04%. Agrium’s dividend payout ratio is presently 89.74%.
Institutional investors have recently made changes to their positions in the stock. Royal Bank of Canada grew its stake in Agrium by 1.5% in the second quarter. Royal Bank of Canada now owns 7,370,940 shares of the basic materials company’s stock worth $666,995,000 after purchasing an additional 112,157 shares during the period. Dodge & Cox grew its stake in Agrium by 33.2% in the second quarter. Dodge & Cox now owns 5,644,826 shares of the basic materials company’s stock worth $510,800,000 after purchasing an additional 1,407,700 shares during the period. Vanguard Group Inc. grew its stake in Agrium by 5.0% in the second quarter. Vanguard Group Inc. now owns 3,294,304 shares of the basic materials company’s stock worth $298,101,000 after purchasing an additional 156,575 shares during the period. TD Asset Management Inc. grew its stake in Agrium by 5.7% in the third quarter. TD Asset Management Inc. now owns 2,405,907 shares of the basic materials company’s stock worth $257,271,000 after purchasing an additional 129,309 shares during the period. Finally, First Eagle Investment Management LLC grew its stake in Agrium by 3,083.8% in the third quarter. First Eagle Investment Management LLC now owns 2,399,091 shares of the basic materials company’s stock worth $257,207,000 after purchasing an additional 2,323,737 shares during the period. Institutional investors own 66.94% of the company’s stock.
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Agrium Inc is a Canada-based global producer and distributor of agricultural products, services and solutions. The Company produces nitrogen, potash and phosphate fertilizers, with a combined wholesale nutrient capacity of approximately 11 million tones. Agrium Inc supplies main products and services directly to growers, including crop nutrients, crop protection, seed, as well as agronomic and application services.
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