Nutrien (NYSE:NTR) Price Target Raised to $80.00

Nutrien (NYSE:NTR) had its price objective raised by equities researchers at JPMorgan Chase & Co. from $75.00 to $80.00 in a research report issued to clients and investors on Monday, Benzinga reports. The firm currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s target price points to a potential upside of 10.68% from the stock’s current price.

A number of other equities analysts have also commented on the company. Freedom Broker started coverage on Nutrien in a research note on Tuesday, October 27th. They set a “hold” rating and a $78.00 price objective on the stock. Oppenheimer reduced their target price on Nutrien from $80.00 to $78.00 and set an “outperform” rating on the stock in a report on Thursday, October 22nd. Royal Bank Of Canada restated an “outperform” rating and issued a $85.00 price target on shares of Nutrien in a research report on Friday, September 18th. Mizuho dropped their price target on Nutrien from $77.00 to $75.00 and set a “neutral” rating for the company in a research note on Tuesday, July 14th. Finally, Jefferies Financial Group reaffirmed a “hold” rating and issued a $71.00 price target on shares of Nutrien in a research note on Monday, October 12th. Sixteen investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $79.24.

Nutrien Stock Performance

Shares of NYSE:NTR traded up $0.80 on Monday, reaching $72.28. 1,005,866 shares of the company’s stock were exchanged, compared to its average volume of 3,000,175. Nutrien has a twelve month low of $54.52 and a twelve month high of $85.36. The company has a fifty day moving average of $72.85 and a 200-day moving average of $71.11. The company has a market capitalization of $34.35 billion, a price-to-earnings ratio of 15.76, a PEG ratio of 0.79 and a beta of 0.67. The company has a current ratio of 1.41, a quick ratio of 0.89 and a debt-to-equity ratio of 0.37.

Nutrien (NYSE:NTR) last released its quarterly earnings results on Wednesday, November 4th. The company reported $0.61 earnings per share for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.13). The business had revenue of $5.69 billion during the quarter, compared to analyst estimates of $5.66 billion. Nutrien had a net margin of 7.78% and a return on equity of 8.00%. The firm’s quarterly revenue was up .9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.97 earnings per share. On average, research analysts predict that Nutrien will post 4.53 EPS for the current fiscal year.

Institutional Investors Weigh In On Nutrien

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Integrity Alliance LLC. lifted its position in shares of Nutrien by 2.0% during the 3rd quarter. Integrity Alliance LLC. now owns 8,292 shares of the company’s stock worth $584,000 after buying an additional 159 shares during the last quarter. Gould Asset Management LLC CA grew its position in Nutrien by 4.4% in the first quarter. Gould Asset Management LLC CA now owns 3,933 shares of the company’s stock valued at $297,000 after acquiring an additional 165 shares during the last quarter. Provenance Wealth Advisors LLC grew its position in Nutrien by 39.6% in the third quarter. Provenance Wealth Advisors LLC now owns 747 shares of the company’s stock valued at $52,000 after acquiring an additional 212 shares during the last quarter. Somerset Trust Co raised its stake in Nutrien by 2.2% during the second quarter. Somerset Trust Co now owns 10,065 shares of the company’s stock worth $634,000 after acquiring an additional 213 shares in the last quarter. Finally, Parvin Asset Management LLC raised its stake in Nutrien by 4.0% during the first quarter. Parvin Asset Management LLC now owns 6,505 shares of the company’s stock worth $491,000 after acquiring an additional 250 shares in the last quarter. 63.10% of the stock is currently owned by institutional investors.

About Nutrien

Nutrien Ltd. is a Canadian agricultural inputs and services company headquartered in Saskatoon, Saskatchewan. Formed in 2018 through the merger of Agrium and Potash Corporation of Saskatchewan, it serves farmers and other customers through fertilizer production and agricultural retail operations.

The company produces potash, nitrogen and phosphate fertilizers, which are used to support crop growth. It also sells crop protection products and seeds, and provides growers with agronomic advice and other services.

Nutrien’s retail business operates primarily in North America, with additional operations in South America and Australia.