Nutrien (NYSE:NTR) Upgraded by Raymond James to Outperform Rating

Nutrien (NYSE:NTR) was upgraded by equities research analysts at Raymond James from a “market perform” rating to an “outperform” rating in a research note issued on Tuesday, MarketBeat Ratings reports. The brokerage presently has a $60.00 price objective on the stock, up from their prior price objective of $58.00. Raymond James’ price objective suggests a potential upside of 23.38% from the stock’s previous close.

Other research analysts have also issued reports about the stock. Scotiabank decreased their price target on shares of Nutrien from $66.00 to $59.00 and set a “sector outperform” rating on the stock in a research note on Monday, August 12th. BMO Capital Markets reduced their price target on shares of Nutrien from $80.00 to $75.00 and set an “outperform” rating on the stock in a research note on Friday, August 9th. Wells Fargo & Company cut Nutrien from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $62.00 to $50.00 in a report on Tuesday, September 24th. TD Securities cut their price objective on Nutrien from $63.00 to $61.00 and set a “buy” rating on the stock in a research report on Tuesday, November 12th. Finally, Barclays reduced their price target on shares of Nutrien from $68.00 to $55.00 and set an “overweight” rating for the company in a research report on Friday, August 16th. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $60.06.

Nutrien Stock Performance

NTR traded up $0.86 on Tuesday, reaching $48.63. 148,337 shares of the stock were exchanged, compared to its average volume of 1,953,931. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.27 and a quick ratio of 0.82. The company’s 50-day moving average price is $47.93 and its 200 day moving average price is $49.71. Nutrien has a fifty-two week low of $44.65 and a fifty-two week high of $60.87. The firm has a market capitalization of $24.02 billion, a PE ratio of 32.64, a PEG ratio of 1.64 and a beta of 0.80.

Nutrien (NYSE:NTR) last posted its earnings results on Wednesday, November 6th. The company reported $0.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.04). Nutrien had a return on equity of 6.99% and a net margin of 2.79%. The firm had revenue of $5.35 billion for the quarter, compared to analysts’ expectations of $5.26 billion. During the same period in the previous year, the company earned $0.35 earnings per share. The company’s revenue was down 5.0% compared to the same quarter last year. As a group, sell-side analysts forecast that Nutrien will post 3.56 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Cetera Advisors LLC increased its position in Nutrien by 21.3% during the 1st quarter. Cetera Advisors LLC now owns 5,897 shares of the company’s stock worth $321,000 after purchasing an additional 1,036 shares during the period. EverSource Wealth Advisors LLC boosted its stake in shares of Nutrien by 160.9% in the first quarter. EverSource Wealth Advisors LLC now owns 1,075 shares of the company’s stock valued at $57,000 after buying an additional 663 shares in the last quarter. CWM LLC raised its position in Nutrien by 6.1% in the second quarter. CWM LLC now owns 5,923 shares of the company’s stock worth $302,000 after acquiring an additional 338 shares in the last quarter. Simplicity Wealth LLC raised its position in Nutrien by 2.2% in the second quarter. Simplicity Wealth LLC now owns 70,124 shares of the company’s stock worth $3,570,000 after acquiring an additional 1,540 shares in the last quarter. Finally, Tilia Fiduciary Partners Inc. lifted its holdings in Nutrien by 7.2% in the second quarter. Tilia Fiduciary Partners Inc. now owns 27,127 shares of the company’s stock valued at $1,381,000 after acquiring an additional 1,812 shares during the period. 63.10% of the stock is owned by hedge funds and other 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.