Barclays Reiterates “Equal Weight” Rating for Nutrien (NYSE:NTR)

Nutrien (NYSE:NTR)‘s stock had its “equal weight” rating restated by equities research analysts at Barclays in a note issued to investors on Tuesday,Benzinga reports. They currently have a $56.00 target price on the stock, up from their prior target price of $55.00. Barclays‘s price objective indicates a potential upside of 8.56% from the company’s current price.

Other equities research analysts have also issued reports about the stock. Oppenheimer started coverage on shares of Nutrien in a report on Thursday, December 12th. They set an “outperform” rating and a $60.00 price objective on the stock. TD Securities dropped their price target on Nutrien from $63.00 to $61.00 and set a “buy” rating on the stock in a research note on Tuesday, November 12th. CIBC restated an “outperformer” rating and issued a $55.00 price objective (down from $60.00) on shares of Nutrien in a research note on Tuesday, December 10th. JPMorgan Chase & Co. raised Nutrien from an “underweight” rating to a “neutral” rating and lifted their target price for the stock from $40.00 to $50.00 in a report on Monday, January 13th. Finally, Wells Fargo & Company downgraded shares of Nutrien from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $62.00 to $50.00 in a report on Tuesday, September 24th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, Nutrien currently has an average rating of “Moderate Buy” and an average target price of $58.39.

Nutrien Price Performance

Shares of NYSE NTR opened at $51.59 on Tuesday. Nutrien has a fifty-two week low of $43.69 and a fifty-two week high of $60.87. The company has a market cap of $25.33 billion, a PE ratio of 34.62, a P/E/G ratio of 1.15 and a beta of 0.81. 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 business has a 50-day simple moving average of $47.12 and a two-hundred day simple moving average of $47.88.

Nutrien (NYSE:NTR) last announced its quarterly earnings data on Wednesday, November 6th. The company reported $0.39 EPS for the quarter, missing the consensus estimate of $0.43 by ($0.04). The company had revenue of $5.35 billion during the quarter, compared to analysts’ expectations of $5.26 billion. Nutrien had a net margin of 2.79% and a return on equity of 6.99%. The business’s revenue for the quarter was down 5.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.35 earnings per share. As a group, equities analysts expect that Nutrien will post 3.5 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Central Pacific Bank Trust Division purchased a new stake in Nutrien in the 3rd quarter worth $28,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in Nutrien during the second quarter valued at $52,000. Larson Financial Group LLC grew its position in shares of Nutrien by 1,370.6% in the third quarter. Larson Financial Group LLC now owns 1,603 shares of the company’s stock valued at $77,000 after purchasing an additional 1,494 shares during the period. Cromwell Holdings LLC increased its stake in shares of Nutrien by 113.4% during the third quarter. Cromwell Holdings LLC now owns 1,694 shares of the company’s stock worth $82,000 after purchasing an additional 900 shares in the last quarter. Finally, EverSource Wealth Advisors LLC raised its position in shares of Nutrien by 56.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,680 shares of the company’s stock worth $86,000 after purchasing an additional 605 shares during the last quarter. Hedge funds and other institutional investors 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.