Nutrien (NYSE:NTR) Price Target Cut to $63.00 by Analysts at Scotiabank

Nutrien (NYSE:NTR) had its target price decreased by equities research analysts at Scotiabank from $65.00 to $63.00 in a note issued to investors on Monday,Benzinga reports. The firm currently has a “sector perform” rating on the stock. Scotiabank’s price target would suggest a potential upside of 8.67% from the stock’s previous close.

A number of other research firms have also commented on NTR. Wells Fargo & Company reissued a “cautious” rating on shares of Nutrien in a report on Thursday, October 16th. Zacks Research downgraded shares of Nutrien from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 16th. Wall Street Zen downgraded shares of Nutrien from a “strong-buy” rating to a “buy” rating in a research report on Friday, September 5th. Jefferies Financial Group decreased their target price on shares of Nutrien from $61.00 to $60.00 and set a “hold” rating for the company in a research note on Tuesday, September 9th. Finally, Oppenheimer restated an “outperform” rating on shares of Nutrien in a research note on Wednesday, October 22nd. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, fourteen have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $63.00.

Nutrien Stock Up 1.9%

Shares of NTR stock traded up $1.09 during midday trading on Monday, reaching $57.97. 665,793 shares of the stock were exchanged, compared to its average volume of 2,355,882. Nutrien has a 1 year low of $43.69 and a 1 year high of $65.08. The company has a current ratio of 1.33, a quick ratio of 0.85 and a debt-to-equity ratio of 0.39. The company’s 50 day moving average is $57.38 and its two-hundred day moving average is $58.26. The firm has a market cap of $28.08 billion, a PE ratio of 20.77, a price-to-earnings-growth ratio of 0.92 and a beta of 0.83.

Nutrien (NYSE:NTR) last released its earnings results on Wednesday, November 5th. The company reported $0.97 EPS for the quarter, topping analysts’ consensus estimates of $0.91 by $0.06. Nutrien had a return on equity of 6.51% and a net margin of 5.25%.The firm had revenue of $5.82 billion for the quarter, compared to analysts’ expectations of $5.59 billion. During the same period in the prior year, the firm posted $0.39 earnings per share. The company’s quarterly revenue was up 12.3% on a year-over-year basis. On average, equities research analysts predict that Nutrien will post 3.72 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Harbour Investments Inc. increased its holdings in Nutrien by 94.8% in the 1st quarter. Harbour Investments Inc. now owns 715 shares of the company’s stock worth $35,000 after acquiring an additional 348 shares in the last quarter. Root Financial Partners LLC purchased a new position in Nutrien during the 3rd quarter valued at approximately $37,000. Huntington National Bank increased its stake in Nutrien by 72.6% in the 2nd quarter. Huntington National Bank now owns 656 shares of the company’s stock worth $38,000 after acquiring an additional 276 shares during the last quarter. Geneos Wealth Management Inc. raised its holdings 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 acquiring an additional 219 shares in the last quarter. Finally, Trust Co. of Toledo NA OH bought a new position in shares of Nutrien during the 2nd quarter valued at approximately $49,000. 63.10% of the stock is 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.