Nutrien (NYSE:NTR) Price Target Raised to $67.00

Nutrien (NYSE:NTR) had its price target boosted by equities researchers at TD Securities from $64.00 to $67.00 in a research report issued to clients and investors on Monday,BayStreet.CA reports. The firm currently has a “buy” rating on the stock. TD Securities’ target price would indicate a potential upside of 19.74% from the company’s previous close.

Several other analysts also recently weighed in on the stock. Piper Sandler lifted their price objective on shares of Nutrien from $58.00 to $63.00 and gave the company an “overweight” rating in a research report on Monday, January 27th. Mizuho upped their target price on Nutrien from $52.00 to $55.00 and gave the company a “neutral” rating in a report on Thursday, February 20th. The Goldman Sachs Group upped their price objective on shares of Nutrien from $53.00 to $59.00 and gave the company a “sell” rating in a research note on Friday. UBS Group boosted their price target on shares of Nutrien from $52.00 to $56.00 and gave the company a “neutral” rating in a report on Thursday. Finally, Royal Bank of Canada raised their price objective on shares of Nutrien from $60.00 to $65.00 and gave the stock an “outperform” rating in a research note on Monday. Two research analysts have rated the stock with a sell rating, five have given a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $60.87.

Nutrien Price Performance

Shares of NTR stock traded up $0.33 during trading hours on Monday, hitting $55.96. The company’s stock had a trading volume of 1,263,966 shares, compared to its average volume of 2,125,675. The company has a current ratio of 1.27, a quick ratio of 0.82 and a debt-to-equity ratio of 0.38. The stock has a market cap of $27.32 billion, a price-to-earnings ratio of 40.82, a P/E/G ratio of 1.19 and a beta of 0.79. Nutrien has a twelve month low of $43.70 and a twelve month high of $60.87. The business has a fifty day moving average of $51.97 and a 200-day moving average of $49.98.

Nutrien (NYSE:NTR) last issued its 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). Nutrien had a return on equity of 6.81% and a net margin of 2.62%. The company had revenue of $4.67 billion during the quarter, compared to analysts’ expectations of $5.16 billion. During the same period in the previous year, the company earned $0.46 EPS. Nutrien’s quarterly revenue was down 5.4% on a year-over-year basis. As a group, equities research analysts anticipate that Nutrien will post 3.72 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in NTR. Covea Finance raised its holdings in shares of Nutrien by 21.9% in the 4th quarter. Covea Finance now owns 55,600 shares of the company’s stock valued at $2,485,000 after purchasing an additional 10,000 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Nutrien by 8.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,886,376 shares of the company’s stock valued at $84,367,000 after purchasing an additional 144,025 shares during the last quarter. Van ECK Associates Corp grew its stake in Nutrien by 5.7% during the 4th quarter. Van ECK Associates Corp now owns 1,480,870 shares of the company’s stock worth $66,264,000 after buying an additional 80,382 shares during the last quarter. Secured Retirement Advisors LLC acquired a new position in Nutrien during the fourth quarter worth approximately $654,000. Finally, Abel Hall LLC acquired a new stake in shares of Nutrien in the fourth quarter valued at approximately $276,000. 63.10% of the stock is currently owned by hedge funds and other institutional investors.

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.