Nutrien (NYSE:NTR) Given New $60.00 Price Target at Scotiabank

Nutrien (NYSE:NTR) had its target price upped by Scotiabank from $59.00 to $60.00 in a research note released on Monday morning,Benzinga reports. Scotiabank currently has a sector outperform rating on the stock.

Several other brokerages also recently commented on NTR. Raymond James raised Nutrien from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $58.00 to $60.00 in a research note on Tuesday, December 3rd. CIBC reissued an “outperformer” rating and set a $55.00 price target (down from $60.00) on shares of Nutrien in a research report on Tuesday, December 10th. Barclays reaffirmed an “equal weight” rating and issued a $56.00 price objective (up from $55.00) on shares of Nutrien in a research report on Tuesday, January 21st. Piper Sandler lifted their target price on shares of Nutrien from $58.00 to $63.00 and gave the stock an “overweight” rating in a research report on Monday, January 27th. Finally, Oppenheimer assumed coverage on Nutrien in a research note on Thursday, December 12th. They issued an “outperform” rating and a $60.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $59.00.

Nutrien Stock Performance

Shares of NTR opened at $51.95 on Monday. The company has a current ratio of 1.27, a quick ratio of 0.82 and a debt-to-equity ratio of 0.38. The firm’s fifty day simple moving average is $48.73 and its two-hundred day simple moving average is $48.09. Nutrien has a 12 month low of $43.69 and a 12 month high of $60.87. The stock has a market capitalization of $25.51 billion, a P/E ratio of 34.87, a price-to-earnings-growth ratio of 1.13 and a beta of 0.81.

Hedge Funds Weigh In On Nutrien

A number of large investors have recently made changes to their positions in the stock. AQR Capital Management LLC boosted its stake in Nutrien by 28.4% in the 2nd quarter. AQR Capital Management LLC now owns 5,348 shares of the company’s stock worth $272,000 after purchasing an additional 1,184 shares during the period. CWM LLC grew its position in shares of Nutrien by 30.6% during the 3rd quarter. CWM LLC now owns 7,738 shares of the company’s stock valued at $372,000 after purchasing an additional 1,815 shares in the last quarter. Viking Fund Management LLC bought a new position in shares of Nutrien in the third quarter worth $96,000. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH raised its position in shares of Nutrien by 58.1% in the third quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 2,598 shares of the company’s stock worth $125,000 after buying an additional 955 shares in the last quarter. Finally, Creative Planning boosted its position in shares of Nutrien by 1.3% during the 3rd quarter. Creative Planning now owns 36,524 shares of the company’s stock valued at $1,755,000 after acquiring an additional 473 shares during the last quarter. 63.10% of the stock is owned by institutional investors.

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.