Nutrien (NYSE:NTR) Stock Rating Reaffirmed by Royal Bank of Canada

Nutrien (NYSE:NTR)‘s stock had its “outperform” rating reiterated by equities researchers at Royal Bank of Canada in a report released on Friday, Benzinga reports. They currently have a $60.00 price objective on the stock. Royal Bank of Canada’s price target indicates a potential upside of 27.50% from the company’s previous close.

Several other equities analysts also recently weighed in on NTR. UBS Group lowered their price target on shares of Nutrien from $67.00 to $66.00 and set a “buy” rating on the stock in a report on Tuesday, July 9th. TD Securities dropped their target price on shares of Nutrien from $69.00 to $67.00 and set a “buy” rating for the company in a report on Thursday, August 1st. Barclays cut their price target on Nutrien from $68.00 to $55.00 and set an “overweight” rating for the company in a research note on Friday, August 16th. The Goldman Sachs Group downgraded Nutrien from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $69.00 to $53.00 in a research report on Tuesday, September 10th. Finally, Piper Sandler cut their target price on Nutrien from $56.00 to $55.00 and set an “underweight” rating for the company in a research report on Tuesday, June 11th. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $62.39.

Nutrien Price Performance

Shares of NYSE:NTR opened at $47.06 on Friday. The firm’s 50 day moving average price is $48.00 and its 200-day moving average price is $51.86. The company has a quick ratio of 0.82, a current ratio of 1.26 and a debt-to-equity ratio of 0.37. The stock has a market capitalization of $23.29 billion, a PE ratio of 27.52, a price-to-earnings-growth ratio of 1.53 and a beta of 0.82. Nutrien has a twelve month low of $44.65 and a twelve month high of $63.60.

Nutrien (NYSE:NTR) last released its earnings results on Wednesday, August 7th. The company reported $2.34 earnings per share for the quarter, beating the consensus estimate of $2.19 by $0.15. Nutrien had a return on equity of 6.91% and a net margin of 2.97%. The company had revenue of $10.16 billion for the quarter, compared to the consensus estimate of $10.82 billion. During the same period in the previous year, the business earned $2.53 earnings per share. Nutrien’s quarterly revenue was down 12.9% compared to the same quarter last year. Equities research analysts expect that Nutrien will post 3.81 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Family Firm Inc. bought a new position in Nutrien in the 2nd quarter worth about $32,000. GoalVest Advisory LLC bought a new position in Nutrien in the first quarter worth approximately $35,000. Trust Co. of Vermont increased its holdings in Nutrien by 50.0% during the 2nd quarter. Trust Co. of Vermont now owns 900 shares of the company’s stock worth $46,000 after purchasing an additional 300 shares during the period. Covestor Ltd raised its position in Nutrien by 33.3% during the 1st quarter. Covestor Ltd now owns 932 shares of the company’s stock valued at $50,000 after purchasing an additional 233 shares in the last quarter. Finally, Andra AP fonden purchased a new stake in shares of Nutrien in the 2nd quarter worth $51,000. 63.10% of the stock is currently owned by 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.