Canadian Imperial Bank of Commerce Increases Nutrien (NYSE:NTR) Price Target to $90.00

Nutrien (NYSE:NTR) had its price target upped by analysts at Canadian Imperial Bank of Commerce from $81.00 to $90.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm presently has an “outperformer” rating on the stock. Canadian Imperial Bank of Commerce’s price objective suggests a potential upside of 13.34% from the company’s current price.

NTR has been the topic of a number of other reports. Jefferies Financial Group raised Nutrien from a “hold” rating to a “buy” rating and lifted their price objective for the company from $74.00 to $96.00 in a report on Thursday, March 12th. Bank of America increased their price objective on Nutrien from $64.00 to $71.00 and gave the company a “neutral” rating in a research report on Friday, February 20th. JPMorgan Chase & Co. upped their price objective on Nutrien from $68.00 to $78.00 and gave the company an “overweight” rating in a report on Friday, February 20th. Zacks Research lowered shares of Nutrien from a “strong-buy” rating to a “hold” rating in a report on Monday, March 2nd. Finally, BMO Capital Markets upped their target price on shares of Nutrien from $75.00 to $85.00 and gave the stock an “outperform” rating in a research note on Friday, February 20th. Eleven investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $76.28.

Nutrien Stock Up 2.1%

NTR traded up $1.62 during midday trading on Tuesday, hitting $79.41. 2,044,362 shares of the company’s stock traded hands, compared to its average volume of 3,526,981. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.34 and a quick ratio of 0.70. Nutrien has a one year low of $45.78 and a one year high of $85.36. The stock’s fifty day simple moving average is $70.51 and its 200-day simple moving average is $62.80. The company has a market cap of $38.21 billion, a PE ratio of 17.06 and a beta of 0.70.

Nutrien (NYSE:NTR) last announced its quarterly earnings results on Wednesday, February 18th. The company reported $0.83 EPS for the quarter, missing the consensus estimate of $0.87 by ($0.04). Nutrien had a net margin of 8.43% and a return on equity of 8.41%. The company had revenue of $5.12 billion for the quarter, compared to analyst estimates of $5.26 billion. During the same quarter last year, the business earned $0.31 EPS. The company’s revenue for the quarter was up 5.1% on a year-over-year basis. As a group, equities analysts anticipate that Nutrien will post 3.72 earnings per share for the current fiscal year.

Institutional Trading of Nutrien

Several large investors have recently modified their holdings of the stock. Rockefeller Capital Management L.P. grew its stake in shares of Nutrien by 4.3% during the fourth quarter. Rockefeller Capital Management L.P. now owns 12,308 shares of the company’s stock worth $760,000 after buying an additional 503 shares during the last quarter. Fund Advisors of America Inc FL acquired a new stake in shares of Nutrien in the fourth quarter valued at about $311,000. Caitong International Asset Management Co. Ltd raised its position in shares of Nutrien by 1,699.1% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 4,012 shares of the company’s stock worth $248,000 after acquiring an additional 3,789 shares during the last quarter. Compound Planning Inc. lifted its stake in shares of Nutrien by 6.9% in the fourth quarter. Compound Planning Inc. now owns 5,371 shares of the company’s stock worth $332,000 after acquiring an additional 348 shares during the period. Finally, Invesco Ltd. raised its holdings in Nutrien by 3.5% during the 4th quarter. Invesco Ltd. now owns 1,415,304 shares of the company’s stock worth $87,353,000 after purchasing an additional 47,798 shares during the last quarter. 63.10% of the stock is owned by institutional investors and hedge funds.

About Nutrien

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.