JPMorgan Chase & Co. Forecasts Strong Price Appreciation for Nutrien (NYSE:NTR) Stock

Nutrien (NYSE:NTR) had its price objective boosted by equities researchers at JPMorgan Chase & Co. from $78.00 to $80.00 in a research note issued on Monday,Benzinga reports. The firm presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s target price suggests a potential upside of 12.11% from the company’s previous close.

A number of other research analysts also recently weighed in on NTR. Morgan Stanley raised their price objective on Nutrien from $77.00 to $93.00 and gave the company an “overweight” rating in a research note on Wednesday, April 8th. Weiss Ratings downgraded Nutrien from a “buy (b-)” rating to a “hold (c)” rating in a research note on Thursday. Canadian Imperial Bank of Commerce cut their price objective on Nutrien from $90.00 to $88.00 and set an “outperformer” rating on the stock in a research note on Thursday, April 30th. BNP Paribas Exane downgraded Nutrien from an “outperform” rating to a “neutral” rating in a research note on Monday, February 23rd. Finally, Mizuho raised their price objective on Nutrien from $65.00 to $68.00 and gave the company a “neutral” rating in a research note on Friday, January 16th. Eleven equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $82.75.

Nutrien Stock Up 4.4%

Shares of NTR traded up $3.03 during midday trading on Monday, reaching $71.36. 2,748,892 shares of the stock were exchanged, compared to its average volume of 3,519,182. Nutrien has a 12-month low of $53.03 and a 12-month high of $85.36. The firm has a 50 day simple moving average of $74.93 and a 200-day simple moving average of $66.96. The company has a quick ratio of 0.59, a current ratio of 1.24 and a debt-to-equity ratio of 0.35. The company has a market cap of $34.31 billion, a price-to-earnings ratio of 14.53 and a beta of 0.64.

Nutrien (NYSE:NTR) last posted its quarterly earnings results 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. Nutrien had a return on equity of 8.84% and a net margin of 8.58%.The company had revenue of $6.05 billion during the quarter, compared to the consensus estimate of $5.30 billion. During the same period last year, the business earned $0.11 EPS. The business’s quarterly revenue was up 18.5% on a year-over-year basis. Research analysts forecast that Nutrien will post 5.09 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Wellington Management Group LLP boosted its stake in Nutrien by 440.2% in the fourth quarter. Wellington Management Group LLP now owns 16,338,606 shares of the company’s stock worth $1,008,713,000 after purchasing an additional 13,313,817 shares in the last quarter. Norges Bank acquired a new position in Nutrien in the fourth quarter worth $412,635,000. Arrowstreet Capital Limited Partnership boosted its stake in Nutrien by 19.1% in the third quarter. Arrowstreet Capital Limited Partnership now owns 14,221,381 shares of the company’s stock worth $834,962,000 after purchasing an additional 2,276,651 shares in the last quarter. TD Asset Management Inc boosted its stake in Nutrien by 21.2% in the fourth quarter. TD Asset Management Inc now owns 8,928,534 shares of the company’s stock worth $551,821,000 after purchasing an additional 1,559,673 shares in the last quarter. Finally, DJE Kapital AG boosted its stake in Nutrien by 1,373.6% in the first quarter. DJE Kapital AG now owns 1,534,869 shares of the company’s stock worth $116,111,000 after purchasing an additional 1,430,708 shares in the last quarter. 63.10% of the stock is currently owned by institutional investors and hedge funds.

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.