Nutrien (NYSE:NTR) Downgraded by Wells Fargo & Company to “Equal Weight”

Nutrien (NYSE:NTR) was downgraded by analysts at Wells Fargo & Company from an “overweight” rating to an “equal weight” rating in a report released on Tuesday, Briefing.com reports. They currently have a $50.00 price objective on the stock, down from their previous price objective of $62.00. Wells Fargo & Company‘s target price would indicate a potential upside of 5.31% from the company’s current price.

Several other equities analysts also recently issued reports on the stock. Mizuho decreased their price objective on shares of Nutrien from $55.00 to $52.00 and set a “neutral” rating on the stock in a report on Thursday, August 8th. BMO Capital Markets decreased their price target on shares of Nutrien from $80.00 to $75.00 and set an “outperform” rating on the stock in a research note on Friday, August 9th. TD Securities lowered their price objective on Nutrien from $69.00 to $67.00 and set a “buy” rating on the stock in a report on Thursday, August 1st. Royal Bank of Canada reissued an “outperform” rating and set a $60.00 target price on shares of Nutrien in a report on Friday. Finally, HSBC lowered 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, five have given a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $61.50.

Nutrien Stock Up 0.9 %

NTR opened at $47.48 on Tuesday. The company has a fifty day moving average of $47.95 and a two-hundred day moving average of $51.81. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.82 and a current ratio of 1.26. Nutrien has a fifty-two week low of $44.65 and a fifty-two week high of $63.60. The stock has a market capitalization of $23.49 billion, a price-to-earnings ratio of 27.77, a PEG ratio of 1.53 and a beta of 0.82.

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

Institutional Investors Weigh In On Nutrien

Institutional investors have recently made changes to their positions in the stock. Manning & Napier Advisors LLC purchased a new position in shares of Nutrien during the 2nd quarter worth approximately $2,639,000. Vanguard Group Inc. boosted its position in shares of Nutrien by 0.9% during the fourth quarter. Vanguard Group Inc. now owns 18,210,375 shares of the company’s stock worth $1,025,790,000 after buying an additional 158,161 shares during the period. SG Americas Securities LLC raised its holdings in shares of Nutrien by 370.1% in the 1st quarter. SG Americas Securities LLC now owns 58,041 shares of the company’s stock valued at $3,152,000 after buying an additional 45,695 shares during the period. BNP Paribas acquired a new position in Nutrien during the 1st quarter worth about $1,146,000. Finally, Wellington Management Group LLP lifted its stake in Nutrien by 54.3% during the 4th quarter. Wellington Management Group LLP now owns 841,144 shares of the company’s stock worth $47,620,000 after acquiring an additional 296,122 shares in the last quarter. 63.10% of the stock is currently owned by institutional investors and hedge funds.

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.