Nutrien (NYSE:NTR) Receives “Outperform” Rating from Royal Bank of Canada

Nutrien (NYSE:NTR)‘s stock had its “outperform” rating reiterated by stock analysts at Royal Bank of Canada in a research note issued on Monday,Benzinga reports. They currently have a $60.00 price objective on the stock. Royal Bank of Canada’s price objective points to a potential upside of 11.95% from the company’s previous close.

Several other brokerages have also recently issued reports on NTR. Scotiabank increased their price objective on Nutrien from $60.00 to $62.00 and gave the stock a “sector outperform” rating in a research note on Monday. JPMorgan Chase & Co. raised Nutrien from an “underweight” rating to a “neutral” rating and increased their price target for the stock from $40.00 to $50.00 in a research report on Monday, January 13th. Raymond James upgraded Nutrien from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from $58.00 to $60.00 in a report on Tuesday, December 3rd. CIBC reiterated an “outperformer” rating and set a $55.00 target price (down from $60.00) on shares of Nutrien in a report on Tuesday, December 10th. Finally, UBS Group boosted their price target on shares of Nutrien from $53.00 to $54.00 and gave the company a “neutral” rating in a report on Thursday, February 20th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $60.11.

Nutrien Stock Up 2.7 %

NYSE:NTR opened at $53.60 on Monday. The company has a market cap of $26.25 billion, a price-to-earnings ratio of 39.12, a price-to-earnings-growth ratio of 1.19 and a beta of 0.81. Nutrien has a twelve month low of $43.69 and a twelve month high of $60.87. 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 stock has a fifty day simple moving average of $49.66 and a 200-day simple moving average of $48.35.

Nutrien (NYSE:NTR) last announced its quarterly earnings data on Wednesday, February 19th. The company reported $0.28 earnings per share for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.09). The company had revenue of $5.08 billion for the quarter, compared to the consensus estimate of $5.09 billion. Nutrien had a net margin of 2.62% and a return on equity of 6.81%. Analysts anticipate that Nutrien will post 3.72 EPS for the current year.

Hedge Funds Weigh In On Nutrien

Hedge funds and other institutional investors have recently bought and sold shares of the business. Creative Planning increased its stake in shares of Nutrien by 1.3% in the third quarter. Creative Planning now owns 36,524 shares of the company’s stock worth $1,755,000 after acquiring an additional 473 shares during the period. International Assets Investment Management LLC acquired a new stake in shares of Nutrien during the 3rd quarter worth approximately $2,296,000. Assenagon Asset Management S.A. lifted its stake in shares of Nutrien by 17.9% in the 3rd quarter. Assenagon Asset Management S.A. now owns 20,563 shares of the company’s stock valued at $989,000 after purchasing an additional 3,120 shares during the period. Forsta AP Fonden lifted its stake in shares of Nutrien by 24.2% in the 3rd quarter. Forsta AP Fonden now owns 125,400 shares of the company’s stock valued at $6,033,000 after purchasing an additional 24,400 shares during the period. Finally, PFG Investments LLC boosted its holdings in Nutrien by 97.9% during the third quarter. PFG Investments LLC now owns 19,711 shares of the company’s stock worth $947,000 after buying an additional 9,752 shares in the last quarter. Institutional investors and hedge funds own 63.10% of the company’s stock.

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.