Nutrien (NYSE:NTR) Price Target Lowered to $81.00 at Morgan Stanley

Nutrien (NYSE:NTR) had its price target cut by Morgan Stanley from $93.00 to $81.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Morgan Stanley’s price objective suggests a potential upside of 23.38% from the company’s current price.

A number of other research firms have also recently weighed in on NTR. Wells Fargo & Company raised shares of Nutrien from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $77.00 to $100.00 in a report on Friday, March 13th. Scotiabank raised shares of Nutrien from a “sector perform” rating to a “sector outperform” rating and set a $80.00 price target on the stock in a research note on Tuesday, June 30th. Berenberg Bank set a $65.00 price target on shares of Nutrien and gave the stock a “hold” rating in a report on Wednesday, June 10th. Royal Bank Of Canada boosted their price target on shares of Nutrien from $80.00 to $85.00 and gave the stock an “outperform” rating in a report on Tuesday, April 7th. Finally, BMO Capital Markets upped their price objective on shares of Nutrien from $85.00 to $90.00 and gave the stock an “outperform” rating in a research report on Wednesday, March 18th. Thirteen analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $80.94.

Nutrien Stock Performance

NYSE NTR traded up $1.11 during trading hours on Tuesday, reaching $65.65. The stock had a trading volume of 289,902 shares, compared to its average volume of 3,321,315. The stock has a fifty day moving average of $68.12 and a 200 day moving average of $69.63. The stock has a market cap of $31.47 billion, a P/E ratio of 13.38, a price-to-earnings-growth ratio of 0.60 and a beta of 0.62. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.59 and a current ratio of 1.24. Nutrien has a 52-week low of $53.03 and a 52-week high of $85.36.

Nutrien (NYSE:NTR) last released its quarterly earnings data on Wednesday, May 6th. The company reported $0.51 earnings per share for the quarter, topping analysts’ consensus estimates of $0.48 by $0.03. The firm had revenue of $6.05 billion for the quarter, compared to analyst estimates of $5.30 billion. Nutrien had a net margin of 8.58% and a return on equity of 8.84%. The business’s quarterly revenue was up 18.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.11 earnings per share. Sell-side analysts predict that Nutrien will post 5.45 earnings per share for the current year.

Institutional Investors Weigh In On Nutrien

Several institutional investors and hedge funds have recently added to or reduced their stakes in NTR. Vanguard Group Inc. raised its position in shares of Nutrien by 2.2% in the fourth quarter. Vanguard Group Inc. now owns 22,463,277 shares of the company’s stock valued at $1,386,546,000 after buying an additional 479,834 shares during the last quarter. Wellington Management Group LLP boosted its position in Nutrien by 440.2% during the fourth quarter. Wellington Management Group LLP now owns 16,338,606 shares of the company’s stock worth $1,008,713,000 after acquiring an additional 13,313,817 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its position in Nutrien by 19.1% during the third quarter. Arrowstreet Capital Limited Partnership now owns 14,221,381 shares of the company’s stock worth $834,962,000 after acquiring an additional 2,276,651 shares during the last quarter. First Eagle Investment Management LLC grew its stake in Nutrien by 0.5% during the 4th quarter. First Eagle Investment Management LLC now owns 13,307,283 shares of the company’s stock valued at $821,326,000 after acquiring an additional 70,068 shares in the last quarter. Finally, Deutsche Bank AG grew its stake in Nutrien by 2.0% during the 4th quarter. Deutsche Bank AG now owns 9,798,196 shares of the company’s stock valued at $604,745,000 after acquiring an additional 189,683 shares in the last quarter. Institutional investors and hedge funds own 63.10% of the company’s stock.

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.