Nutrien (NYSE:NTR) Price Target Raised to $68.00 at Mizuho

Nutrien (NYSE:NTR) had its price target raised by analysts at Mizuho from $65.00 to $68.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has a “neutral” rating on the stock. Mizuho’s price objective would indicate a potential upside of 0.27% from the company’s current price.

Several other analysts have also recently weighed in on the stock. Morgan Stanley raised shares of Nutrien from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $70.00 to $77.00 in a research note on Wednesday. UBS Group lifted their target price on Nutrien from $58.00 to $63.00 and gave the stock a “neutral” rating in a report on Monday. Bank of America reissued a “neutral” rating and issued a $67.00 price target on shares of Nutrien in a research note on Tuesday, October 14th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Nutrien in a research note on Monday, December 29th. Finally, Wells Fargo & Company began coverage on shares of Nutrien in a research report on Tuesday, November 11th. They set an “equal weight” rating and a $64.00 target price for the company. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, twelve have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Nutrien currently has a consensus rating of “Hold” and an average target price of $65.12.

Nutrien Stock Performance

NYSE:NTR opened at $67.82 on Friday. The stock’s 50-day moving average is $60.34 and its 200-day moving average is $58.86. Nutrien has a 1-year low of $45.78 and a 1-year high of $67.95. The company has a current ratio of 1.41, a quick ratio of 0.89 and a debt-to-equity ratio of 0.39. The stock has a market cap of $32.69 billion, a P/E ratio of 18.28 and a beta of 0.72.

Nutrien (NYSE:NTR) last issued its quarterly earnings data on Wednesday, November 5th. The company reported $0.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.91 by $0.06. Nutrien had a net margin of 6.79% and a return on equity of 7.54%. The business had revenue of $5.82 billion during the quarter, compared to analyst estimates of $5.59 billion. During the same quarter last year, the business earned $0.39 EPS. The firm’s quarterly revenue was up 12.3% on a year-over-year basis. Equities research analysts anticipate that Nutrien will post 3.72 earnings per share for the current year.

Hedge Funds Weigh In On Nutrien

A number of institutional investors and hedge funds have recently modified their holdings of NTR. Root Financial Partners LLC bought a new stake in shares of Nutrien in the 3rd quarter valued at $37,000. Huntington National Bank raised its holdings in shares of Nutrien by 72.6% during the second quarter. Huntington National Bank now owns 656 shares of the company’s stock valued at $38,000 after purchasing an additional 276 shares during the period. Eastern Bank boosted its position in shares of Nutrien by 133.0% during the 4th quarter. Eastern Bank now owns 699 shares of the company’s stock worth $43,000 after purchasing an additional 399 shares in the last quarter. Geneos Wealth Management Inc. boosted its position in shares of Nutrien by 42.4% during the 2nd quarter. Geneos Wealth Management Inc. now owns 735 shares of the company’s stock worth $43,000 after purchasing an additional 219 shares in the last quarter. Finally, Fulcrum Asset Management LLP acquired a new stake in shares of Nutrien in the 3rd quarter valued at about $46,000. 63.10% of the stock is currently owned by institutional investors.

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.