Royal Bank of Canada Forecasts Strong Price Appreciation for Nutrien (NYSE:NTR) Stock

Nutrien (NYSE:NTR) had its target price raised by investment analysts at Royal Bank of Canada from $60.00 to $65.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Royal Bank of Canada’s price objective indicates a potential upside of 11.97% from the stock’s previous close.

A number of other brokerages also recently commented on NTR. Piper Sandler boosted their target price on shares of Nutrien from $58.00 to $63.00 and gave the stock an “overweight” rating in a research note on Monday, January 27th. Mizuho upped 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. CIBC increased their price objective on Nutrien from $64.00 to $66.00 and gave the company an “outperformer” rating in a report on Tuesday, February 25th. Berenberg Bank increased their price objective on Nutrien from $54.00 to $59.00 and gave the company a “buy” rating in a report on Tuesday, April 15th. Finally, UBS Group increased their price target on Nutrien from $52.00 to $56.00 and gave the stock a “neutral” rating in a report on Thursday, May 8th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Nutrien presently has a consensus rating of “Moderate Buy” and an average price target of $61.20.

Nutrien Stock Up 3.3%

Nutrien stock opened at $58.05 on Monday. The company has a market capitalization of $28.34 billion, a PE ratio of 42.37, a price-to-earnings-growth ratio of 1.19 and a beta of 0.79. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.82 and a current ratio of 1.27. The firm has a 50 day moving average price of $52.24 and a 200 day moving average price of $50.09. Nutrien has a fifty-two week low of $43.70 and a fifty-two week high of $60.87.

Nutrien (NYSE:NTR) last released its earnings results on Wednesday, May 7th. The company reported $0.11 earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.24). The firm had revenue of $4.67 billion during the quarter, compared to analyst estimates of $5.16 billion. Nutrien had a net margin of 2.62% and a return on equity of 6.81%. The business’s revenue was down 5.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.46 earnings per share. Research analysts expect that Nutrien will post 3.72 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in NTR. Vanguard Group Inc. raised its position in shares of Nutrien by 7.1% during the 1st quarter. Vanguard Group Inc. now owns 21,191,003 shares of the company’s stock worth $1,051,709,000 after purchasing an additional 1,412,503 shares during the last quarter. Dodge & Cox raised its position in shares of Nutrien by 0.3% during the 4th quarter. Dodge & Cox now owns 12,523,259 shares of the company’s stock worth $560,416,000 after purchasing an additional 40,800 shares during the last quarter. Silchester International Investors LLP raised its position in shares of Nutrien by 9.5% during the 4th quarter. Silchester International Investors LLP now owns 11,693,137 shares of the company’s stock worth $523,268,000 after purchasing an additional 1,009,895 shares during the last quarter. First Eagle Investment Management LLC raised its position in shares of Nutrien by 0.8% during the 4th quarter. First Eagle Investment Management LLC now owns 9,529,311 shares of the company’s stock worth $426,436,000 after purchasing an additional 77,174 shares during the last quarter. Finally, Mackenzie Financial Corp raised its position in shares of Nutrien by 0.7% during the 1st quarter. Mackenzie Financial Corp now owns 7,855,609 shares of the company’s stock worth $389,860,000 after purchasing an additional 54,918 shares during 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.