Barclays Increases Nutrien (NYSE:NTR) Price Target to $61.00

Nutrien (NYSE:NTR) had its price target boosted by investment analysts at Barclays from $59.00 to $61.00 in a report released on Wednesday,Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Barclays‘s price target would indicate a potential upside of 6.31% from the company’s current price.

A number of other equities research analysts have also recently issued reports on NTR. TD Securities boosted their price objective on Nutrien from $64.00 to $67.00 and gave the company a “buy” rating in a research note on Monday. Scotiabank restated a “sector perform” rating and issued a $62.00 price objective on shares of Nutrien in a research note on Wednesday. Bank of America boosted their price objective on Nutrien from $60.00 to $63.00 and gave the company a “buy” rating in a research note on Wednesday. UBS Group boosted their price objective on Nutrien from $52.00 to $56.00 and gave the company a “neutral” rating in a research note on Thursday, May 8th. Finally, Piper Sandler boosted their price objective on Nutrien from $58.00 to $63.00 and gave the company an “overweight” rating in a research note on Monday, January 27th. Two analysts have rated the stock with a sell rating, six have given a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $61.44.

Nutrien Price Performance

NTR opened at $57.38 on Wednesday. Nutrien has a fifty-two week low of $43.70 and a fifty-two week high of $60.87. The firm has a 50-day moving average of $52.49 and a 200 day moving average of $50.20. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.82 and a current ratio of 1.27. The firm has a market cap of $28.02 billion, a P/E ratio of 41.88, a PEG ratio of 1.19 and a beta of 0.79.

Nutrien (NYSE:NTR) last posted its quarterly earnings data on Wednesday, May 7th. The company reported $0.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.24). Nutrien had a return on equity of 6.81% and a net margin of 2.62%. The company had revenue of $4.67 billion for the quarter, compared to analysts’ expectations of $5.16 billion. During the same quarter last year, the business posted $0.46 EPS. The business’s quarterly revenue was down 5.4% on a year-over-year basis. On average, research analysts expect that Nutrien will post 3.72 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Public Sector Pension Investment Board boosted its position in Nutrien by 0.4% in the first quarter. Public Sector Pension Investment Board now owns 47,329 shares of the company’s stock worth $2,349,000 after purchasing an additional 200 shares during the last quarter. Blume Capital Management Inc. boosted its position in Nutrien by 0.7% in the first quarter. Blume Capital Management Inc. now owns 31,796 shares of the company’s stock worth $1,579,000 after purchasing an additional 220 shares during the last quarter. Uncommon Cents Investing LLC boosted its position in Nutrien by 2.1% in the fourth quarter. Uncommon Cents Investing LLC now owns 11,550 shares of the company’s stock worth $517,000 after purchasing an additional 235 shares during the last quarter. Rhumbline Advisers lifted its position in shares of Nutrien by 3.5% during the 4th quarter. Rhumbline Advisers now owns 7,398 shares of the company’s stock valued at $331,000 after buying an additional 247 shares in the last quarter. Finally, FFT Wealth Management LLC lifted its position in shares of Nutrien by 0.9% during the 4th quarter. FFT Wealth Management LLC now owns 29,732 shares of the company’s stock valued at $1,330,000 after buying an additional 277 shares in the last quarter. 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.