Royal Bank of Canada Reiterates Outperform Rating for Nutrien (NYSE:NTR)

Nutrien (NYSE:NTR)‘s stock had its “outperform” rating reiterated by analysts at Royal Bank of Canada in a research note issued to investors on Friday, Benzinga reports. They presently have a $60.00 price target on the stock. Royal Bank of Canada’s target price would indicate a potential upside of 25.26% from the company’s previous close.

A number of other brokerages also recently weighed in on NTR. Barclays lowered their target price on shares of Nutrien from $68.00 to $55.00 and set an “overweight” rating for the company in a research note on Friday, August 16th. BMO Capital Markets lowered their price target on Nutrien from $80.00 to $75.00 and set an “outperform” rating for the company in a research report on Friday, August 9th. UBS Group reduced their target price on Nutrien from $67.00 to $66.00 and set a “buy” rating for the company in a report on Tuesday, July 9th. Mizuho reduced their target price on shares of Nutrien from $55.00 to $52.00 and set a “neutral” rating for the company in a research report on Thursday, August 8th. Finally, HSBC cut Nutrien from a “hold” rating to a “reduce” rating in a research note on Friday, August 2nd. Three investment analysts have rated the stock with a sell rating, four have issued a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $62.39.

Nutrien Stock Up 2.3 %

NTR opened at $47.90 on Friday. The company has a market capitalization of $23.70 billion, a P/E ratio of 28.01, a P/E/G ratio of 1.51 and a beta of 0.82. Nutrien has a fifty-two week low of $44.65 and a fifty-two week high of $64.29. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.82 and a current ratio of 1.26. The stock has a fifty day moving average of $48.05 and a 200-day moving average of $51.88.

Nutrien (NYSE:NTR) last announced its quarterly earnings results on Wednesday, August 7th. The company reported $2.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.19 by $0.15. The company had revenue of $10.16 billion for the quarter, compared to analyst estimates of $10.82 billion. Nutrien had a net margin of 2.97% and a return on equity of 6.91%. The firm’s revenue was down 12.9% on a year-over-year basis. During the same period in the previous year, the firm posted $2.53 EPS. On average, equities analysts expect that Nutrien will post 3.81 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Nutrien during the 2nd quarter worth approximately $52,000. Sanctuary Advisors LLC acquired a new position in shares of Nutrien in the 2nd quarter valued at $2,184,000. Clearbridge Investments LLC lifted its position in Nutrien by 21.9% in the second quarter. Clearbridge Investments LLC now owns 882,591 shares of the company’s stock valued at $44,937,000 after buying an additional 158,324 shares during the last quarter. Pathway Financial Advisers LLC boosted its position in shares of Nutrien by 2.8% during the 2nd quarter. Pathway Financial Advisers LLC now owns 27,804 shares of the company’s stock worth $1,413,000 after purchasing an additional 758 shares during the period. Finally, Northwestern Mutual Wealth Management Co. grew its stake in shares of Nutrien by 4.6% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 22,825 shares of the company’s stock valued at $1,162,000 after buying an additional 1,000 shares in the last quarter. Institutional investors and hedge funds own 63.10% of the company’s stock.

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.