Nutrien (NYSE:NTR) Upgraded to Sector Outperform at Scotia

Nutrien (NYSE:NTR) was upgraded by analysts at Scotia from a “sector perform” rating to a “sector outperform” rating in a research note issued to investors on Tuesday,BayStreet.CA reports. The firm presently has a $80.00 price target on the stock. Scotia’s price objective points to a potential upside of 25.97% from the company’s current price.

Several other brokerages also recently issued reports on NTR. Wells Fargo & Company raised shares of Nutrien from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $77.00 to $100.00 in a report on Friday, March 13th. Zacks Research cut shares of Nutrien from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 2nd. TD Securities reaffirmed a “buy” rating on shares of Nutrien in a report on Wednesday, May 6th. Royal Bank Of Canada lifted their target price on shares of Nutrien from $80.00 to $85.00 and gave the company an “outperform” rating in a research note on Tuesday, April 7th. Finally, UBS Group reduced their target price on Nutrien from $67.00 to $65.00 and set a “sell” rating on the stock in a report on Monday, May 11th. Thirteen research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $81.61.

Nutrien Price Performance

NYSE:NTR traded up $2.33 during trading hours on Tuesday, reaching $63.51. The company had a trading volume of 3,833,851 shares, compared to its average volume of 3,340,943. 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 stock has a 50-day moving average of $68.71 and a two-hundred day moving average of $69.55. Nutrien has a one year low of $53.03 and a one year high of $85.36. The firm has a market capitalization of $30.44 billion, a PE ratio of 12.92, a PEG ratio of 0.56 and a beta of 0.60.

Nutrien (NYSE:NTR) last issued its quarterly earnings data on Wednesday, May 6th. The company reported $0.51 earnings per share (EPS) for the quarter, beating 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 analysts’ expectations of $5.30 billion. During the same period last year, the business earned $0.11 earnings per share. The business’s revenue was up 18.5% on a year-over-year basis. Analysts forecast that Nutrien will post 5.45 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Nutrien by 65.1% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 25,224 shares of the company’s stock valued at $1,253,000 after acquiring an additional 9,950 shares during the period. NewEdge Advisors LLC boosted its holdings in shares of Nutrien by 6.2% in the first quarter. NewEdge Advisors LLC now owns 6,907 shares of the company’s stock valued at $343,000 after buying an additional 404 shares during the period. Focus Partners Wealth bought a new stake in shares of Nutrien during the first quarter worth $516,000. Acadian Asset Management LLC bought a new stake in shares of Nutrien during the first quarter worth $54,000. Finally, Prudential Financial Inc. acquired a new stake in shares of Nutrien during the second quarter worth $203,000. Institutional investors own 63.10% of the company’s stock.

About Nutrien

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.