Raymond James Financial Downgrades Nutrien (NYSE:NTR) to Market Perform

Nutrien (NYSE:NTR) was downgraded by equities researchers at Raymond James Financial from an “outperform” rating to a “market perform” rating in a research report issued on Tuesday, Marketbeat reports. They presently have a $68.00 price target on the stock. Raymond James Financial’s price target suggests a potential upside of 9.13% from the company’s previous close.

NTR has been the topic of a number of other reports. TD Securities increased their price objective on shares of Nutrien from $64.00 to $67.00 and gave the company a “buy” rating in a research note on Monday, May 12th. Oppenheimer increased their price objective on shares of Nutrien from $58.00 to $63.00 and gave the company an “outperform” rating in a research note on Tuesday, May 13th. Mizuho increased their price objective on shares of Nutrien from $52.00 to $55.00 and gave the company a “neutral” rating in a research note on Thursday, February 20th. The Goldman Sachs Group increased their price objective on shares of Nutrien from $53.00 to $59.00 and gave the company a “sell” rating in a research note on Friday, May 9th. Finally, Berenberg Bank increased their price objective on shares of Nutrien from $54.00 to $59.00 and gave the company a “buy” rating in a research note on Tuesday, April 15th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $61.94.

Nutrien Stock Performance

Shares of NYSE:NTR opened at $62.31 on Tuesday. The firm has a market cap of $30.35 billion, a PE ratio of 58.24, a price-to-earnings-growth ratio of 1.12 and a beta of 0.81. The firm’s 50 day simple moving average is $57.22 and its 200-day simple moving average is $52.29. Nutrien has a one year low of $43.70 and a one year high of $65.08. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.59 and a current ratio of 1.22.

Nutrien (NYSE:NTR) last issued its earnings results on Wednesday, May 7th. The company reported $0.11 EPS for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.24). The company had revenue of $4.67 billion for the quarter, compared to analysts’ expectations of $5.16 billion. Nutrien had a return on equity of 6.08% and a net margin of 2.05%. The business’s revenue was down 5.4% compared to the same quarter last year. During the same period last year, the business posted $0.46 earnings per share. As a group, equities analysts predict that Nutrien will post 3.72 EPS for the current year.

Institutional Investors Weigh In On Nutrien

Several institutional investors and hedge funds have recently made changes to their positions in NTR. Acadian Asset Management LLC purchased a new position in shares of Nutrien during the first quarter worth $54,000. Belpointe Asset Management LLC purchased a new position in shares of Nutrien during the first quarter worth $311,000. Intech Investment Management LLC raised its holdings in shares of Nutrien by 284.0% during the first quarter. Intech Investment Management LLC now owns 69,128 shares of the company’s stock worth $3,430,000 after purchasing an additional 51,126 shares during the last quarter. Focus Partners Wealth purchased a new position in shares of Nutrien during the first quarter worth $516,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of Nutrien by 1.0% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 736,996 shares of the company’s stock worth $36,607,000 after purchasing an additional 7,194 shares during 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.