Nutrien (NYSE:NTR) Price Target Raised to $66.00

Nutrien (NYSE:NTR) had its price target boosted by investment analysts at CIBC from $64.00 to $66.00 in a research note issued on Tuesday,Benzinga reports. The brokerage presently has an “outperformer” rating on the stock. CIBC’s target price would indicate a potential upside of 24.34% from the company’s current price.

Other equities research analysts also recently issued research reports about the company. JPMorgan Chase & Co. upgraded Nutrien from an “underweight” rating to a “neutral” rating and boosted their target price for the stock from $40.00 to $50.00 in a research report on Monday, January 13th. Mizuho boosted their price objective on Nutrien from $52.00 to $55.00 and gave the stock a “neutral” rating in a report on Thursday, February 20th. TD Securities cut their target price on shares of Nutrien from $63.00 to $61.00 and set a “buy” rating on the stock in a research report on Tuesday, November 12th. Scotiabank lifted their price target on shares of Nutrien from $60.00 to $62.00 and gave the stock a “sector outperform” rating in a research report on Monday. Finally, Barclays restated an “equal weight” rating and issued a $56.00 price objective (up from $55.00) on shares of Nutrien in a report on Tuesday, January 21st. One analyst has rated the stock with a sell rating, six have issued a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $60.11.

Nutrien Price Performance

NYSE NTR traded up $0.88 during trading hours on Tuesday, reaching $53.08. 1,489,970 shares of the company’s stock were exchanged, compared to its average volume of 2,382,368. The firm has a fifty day moving average of $49.51 and a 200-day moving average of $48.29. Nutrien has a one year low of $43.69 and a one year high of $60.87. The stock has a market cap of $26.00 billion, a PE ratio of 38.78, a price-to-earnings-growth ratio of 1.19 and a beta of 0.81. The company has a current ratio of 1.27, a quick ratio of 0.82 and a debt-to-equity ratio of 0.38.

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

Hedge Funds Weigh In On Nutrien

Several institutional investors and hedge funds have recently modified their holdings of NTR. Public Employees Retirement System of Ohio boosted its holdings in shares of Nutrien by 6.3% in the fourth quarter. Public Employees Retirement System of Ohio now owns 92,018 shares of the company’s stock valued at $4,116,000 after buying an additional 5,420 shares during the period. Burgundy Asset Management Ltd. lifted its position in Nutrien by 36.1% in the 4th quarter. Burgundy Asset Management Ltd. now owns 130,000 shares of the company’s stock valued at $5,811,000 after acquiring an additional 34,500 shares in the last quarter. Vise Technologies Inc. acquired a new position in Nutrien in the 4th quarter worth $222,000. Two Sigma Advisers LP increased its holdings in Nutrien by 211.4% during the 4th quarter. Two Sigma Advisers LP now owns 67,317 shares of the company’s stock worth $3,012,000 after purchasing an additional 45,700 shares in the last quarter. Finally, Two Sigma Investments LP increased its holdings in Nutrien by 45.7% during the 4th quarter. Two Sigma Investments LP now owns 301,505 shares of the company’s stock worth $13,492,000 after purchasing an additional 94,554 shares in 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.