Nutrien (NYSE:NTR) Now Covered by Analysts at Oppenheimer

Equities research analysts at Oppenheimer began coverage on shares of Nutrien (NYSE:NTR) in a research note issued on Thursday,Benzinga reports. The brokerage set an “outperform” rating and a $60.00 price target on the stock. Oppenheimer’s target price would suggest a potential upside of 24.53% from the company’s previous close.

Other analysts also recently issued reports about the stock. CIBC reissued an “outperformer” rating and set a $55.00 price objective (down from $60.00) on shares of Nutrien in a research report on Tuesday. Raymond James upgraded shares of Nutrien from a “market perform” rating to an “outperform” rating and increased their price target for the company from $58.00 to $60.00 in a report on Tuesday, December 3rd. TD Securities decreased their price objective on shares of Nutrien from $63.00 to $61.00 and set a “buy” rating for the company in a report on Tuesday, November 12th. Royal Bank of Canada reiterated an “outperform” rating and set a $60.00 target price on shares of Nutrien in a research note on Friday, September 20th. Finally, Barclays decreased their price target on Nutrien from $68.00 to $55.00 and set an “overweight” rating for the company in a research note on Friday, August 16th. Three analysts have rated the stock with a sell rating, four have issued a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $58.95.

Nutrien Price Performance

NTR stock opened at $48.18 on Thursday. 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 market capitalization of $23.72 billion, a price-to-earnings ratio of 32.34, a PEG ratio of 1.72 and a beta of 0.80. The firm has a 50 day moving average price of $47.85 and a 200-day moving average price of $49.09. Nutrien has a 52-week low of $44.65 and a 52-week high of $60.87.

Nutrien (NYSE:NTR) last released its earnings results on Wednesday, November 6th. The company reported $0.39 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 company had revenue of $5.35 billion during the quarter, compared to the consensus estimate of $5.26 billion. During the same period last year, the firm posted $0.35 earnings per share. The company’s revenue was down 5.0% compared to the same quarter last year. Equities research analysts forecast that Nutrien will post 3.49 EPS for the current fiscal year.

Institutional Trading of Nutrien

Large investors have recently added to or reduced their stakes in the business. Silchester International Investors LLP raised its position in Nutrien by 164.4% in the third quarter. Silchester International Investors LLP now owns 10,683,242 shares of the company’s stock worth $513,437,000 after acquiring an additional 6,642,075 shares during the period. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of Nutrien in the 3rd quarter worth $150,181,000. Bank of Montreal Can raised its holdings in Nutrien by 15.5% in the 2nd quarter. Bank of Montreal Can now owns 13,354,385 shares of the company’s stock worth $719,668,000 after purchasing an additional 1,794,333 shares during the period. Clal Insurance Enterprises Holdings Ltd lifted its position in Nutrien by 78.8% during the third quarter. Clal Insurance Enterprises Holdings Ltd now owns 2,495,282 shares of the company’s stock valued at $121,271,000 after purchasing an additional 1,100,000 shares in the last quarter. Finally, National Bank of Canada FI grew its holdings in Nutrien by 34.0% during the second quarter. National Bank of Canada FI now owns 4,066,629 shares of the company’s stock valued at $205,385,000 after purchasing an additional 1,032,763 shares during the period. 63.10% of the stock is currently owned by institutional investors.

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.