Nutrien (NYSE:NTR) Upgraded to “Outperform” at Raymond James

Nutrien (NYSE:NTR) was upgraded by Raymond James from a “market perform” rating to an “outperform” rating in a note issued to investors on Tuesday, MarketBeat reports. The brokerage presently has a $60.00 price target on the stock, up from their prior price target of $58.00. Raymond James’ target price indicates a potential upside of 23.38% from the stock’s current price.

NTR has been the topic of a number of other reports. The Goldman Sachs Group cut Nutrien from a “buy” rating to a “neutral” rating and cut their target price for the stock from $69.00 to $53.00 in a report on Tuesday, September 10th. UBS Group downgraded Nutrien from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $66.00 to $51.00 in a report on Thursday, October 10th. Barclays cut their price target on shares of Nutrien from $68.00 to $55.00 and set an “overweight” rating on the stock in a report on Friday, August 16th. Scotiabank decreased their target price on Nutrien from $66.00 to $59.00 and set a “sector outperform” rating for the company in a research report on Monday, August 12th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $60.00 price target on shares of Nutrien in a research note on Friday, September 20th. Three equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, Nutrien currently has a consensus rating of “Hold” and a consensus target price of $60.06.

Nutrien Price Performance

Shares of NTR stock traded up $0.86 on Tuesday, reaching $48.63. The company had a trading volume of 148,337 shares, compared to its average volume of 1,953,931. The stock has a market capitalization of $24.02 billion, a PE ratio of 32.64, a price-to-earnings-growth ratio of 1.64 and a beta of 0.80. The company has a quick ratio of 0.82, a current ratio of 1.27 and a debt-to-equity ratio of 0.38. The business’s 50-day moving average is $47.93 and its 200 day moving average is $49.71. Nutrien has a one year low of $44.65 and a one year high of $60.87.

Nutrien (NYSE:NTR) last released its quarterly earnings data on Wednesday, November 6th. The company reported $0.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.04). The firm had revenue of $5.35 billion during the quarter, compared to analyst estimates of $5.26 billion. Nutrien had a net margin of 2.79% and a return on equity of 6.99%. The business’s quarterly revenue was down 5.0% compared to the same quarter last year. During the same period in the prior year, the company earned $0.35 EPS. Equities research analysts forecast that Nutrien will post 3.56 EPS for the current fiscal year.

Institutional Investors Weigh In On Nutrien

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Cetera Advisors LLC grew its holdings in Nutrien by 21.3% during the 1st quarter. Cetera Advisors LLC now owns 5,897 shares of the company’s stock valued at $321,000 after purchasing an additional 1,036 shares during the last quarter. EverSource Wealth Advisors LLC lifted its position in shares of Nutrien by 160.9% during the first quarter. EverSource Wealth Advisors LLC now owns 1,075 shares of the company’s stock worth $57,000 after purchasing an additional 663 shares during the last quarter. CWM LLC raised its holdings in shares of Nutrien by 6.1% in the second quarter. CWM LLC now owns 5,923 shares of the company’s stock valued at $302,000 after acquiring an additional 338 shares in the last quarter. Simplicity Wealth LLC lifted its position in shares of Nutrien by 2.2% in the 2nd quarter. Simplicity Wealth LLC now owns 70,124 shares of the company’s stock worth $3,570,000 after purchasing an additional 1,540 shares during the period. Finally, Tilia Fiduciary Partners Inc. increased its holdings in shares of Nutrien by 7.2% in the 2nd quarter. Tilia Fiduciary Partners Inc. now owns 27,127 shares of the company’s stock valued at $1,381,000 after acquiring an additional 1,812 shares during the period. 63.10% of the stock is currently owned by hedge funds and other institutional investors.

Nutrien Company Profile

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.