Nutrien (NYSE:NTR) Earns Outperform Rating from Royal Bank of Canada

Nutrien (NYSE:NTR)‘s stock had its “outperform” rating reiterated by research analysts at Royal Bank of Canada in a report released on Friday, Benzinga reports. They presently have a $60.00 target price on the stock. Royal Bank of Canada’s price target points to a potential upside of 27.50% from the company’s current price.

A number of other equities research analysts have also recently commented on the stock. Mizuho decreased 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. HSBC downgraded Nutrien from a “hold” rating to a “reduce” rating in a research note on Friday, August 2nd. UBS Group decreased their price target on Nutrien from $67.00 to $66.00 and set a “buy” rating for the company in a research note on Tuesday, July 9th. Scotiabank dropped their price target on Nutrien from $66.00 to $59.00 and set a “sector outperform” rating on the stock in a research note on Monday, August 12th. Finally, Wells Fargo & Company cut their price objective on shares of Nutrien from $68.00 to $66.00 and set an “overweight” rating on the stock in a report on Tuesday, July 16th. Three investment analysts have rated the stock with a sell rating, four have given a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $62.39.

Nutrien Stock Down 1.8 %

Shares of NYSE NTR opened at $47.06 on Friday. The stock has a market capitalization of $23.29 billion, a PE ratio of 27.52, a price-to-earnings-growth ratio of 1.53 and a beta of 0.82. The company has a current ratio of 1.26, a quick ratio of 0.82 and a debt-to-equity ratio of 0.37. Nutrien has a 12-month low of $44.65 and a 12-month high of $63.60. The stock’s fifty day simple moving average is $48.00 and its two-hundred day simple moving average is $51.86.

Nutrien (NYSE:NTR) last posted its 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 return on equity of 6.91% and a net margin of 2.97%. The firm’s quarterly revenue was down 12.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.53 earnings per share. As a group, analysts expect that Nutrien will post 3.81 EPS for the current fiscal year.

Hedge Funds Weigh In On Nutrien

Large investors have recently made changes to their positions in the company. Family Firm Inc. purchased a new position in Nutrien in the second quarter valued at $32,000. GoalVest Advisory LLC acquired a new stake in shares of Nutrien during the 1st quarter valued at about $35,000. Trust Co. of Vermont increased its stake in shares of Nutrien by 50.0% in the 2nd quarter. Trust Co. of Vermont now owns 900 shares of the company’s stock valued at $46,000 after purchasing an additional 300 shares in the last quarter. Covestor Ltd raised its holdings in Nutrien by 33.3% in the 1st quarter. Covestor Ltd now owns 932 shares of the company’s stock worth $50,000 after purchasing an additional 233 shares during the period. Finally, Andra AP fonden purchased a new position in Nutrien during the second quarter worth approximately $51,000. 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.