Scotiabank Forecasts Strong Price Appreciation for Nutrien (NYSE:NTR) Stock

Nutrien (NYSE:NTR) had its price target upped by stock analysts at Scotiabank from $59.00 to $60.00 in a report issued on Monday,Benzinga reports. The firm currently has a “sector outperform” rating on the stock. Scotiabank’s price objective would suggest a potential upside of 17.63% from the company’s previous close.

Several other research analysts also recently commented on NTR. Raymond James upgraded shares of Nutrien from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from $58.00 to $60.00 in a report on Tuesday, December 3rd. JPMorgan Chase & Co. raised Nutrien from an “underweight” rating to a “neutral” rating and boosted their price objective for the stock from $40.00 to $50.00 in a research report on Monday, January 13th. TD Securities lowered their target price on Nutrien from $63.00 to $61.00 and set a “buy” rating on the stock in a report on Tuesday, November 12th. Oppenheimer started coverage on Nutrien in a report on Thursday, December 12th. They set an “outperform” rating and a $60.00 price target for the company. Finally, Wells Fargo & Company raised their price objective on shares of Nutrien from $52.00 to $53.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 28th. One analyst has rated the stock with a sell rating, six have given a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, Nutrien presently has a consensus rating of “Moderate Buy” and an average price target of $59.00.

Nutrien Stock Up 1.4 %

Shares of NTR traded up $0.73 during midday trading on Monday, reaching $51.01. 503,033 shares of the stock were exchanged, compared to its average volume of 2,232,719. The company has a market cap of $25.05 billion, a price-to-earnings ratio of 34.20, a P/E/G ratio of 1.13 and a beta of 0.81. The company has a quick ratio of 0.82, a current ratio of 1.27 and a debt-to-equity ratio of 0.38. Nutrien has a 12-month low of $43.69 and a 12-month high of $60.87. The firm has a 50 day simple moving average of $48.73 and a 200-day simple moving average of $48.09.

Institutional Investors Weigh In On Nutrien

Institutional investors and hedge funds have recently made changes to their positions in the stock. Fairway Wealth LLC acquired a new stake in Nutrien during the fourth quarter worth approximately $27,000. HHM Wealth Advisors LLC lifted its position in shares of Nutrien by 331.0% in the 4th quarter. HHM Wealth Advisors LLC now owns 625 shares of the company’s stock worth $28,000 after purchasing an additional 480 shares during the period. Assetmark Inc. increased its position in shares of Nutrien by 1,437.5% during the fourth quarter. Assetmark Inc. now owns 738 shares of the company’s stock worth $33,000 after buying an additional 690 shares during the period. Asset Planning Inc acquired a new position in Nutrien in the fourth quarter valued at $35,000. Finally, Exchange Traded Concepts LLC boosted its position in Nutrien by 96.7% during the fourth quarter. Exchange Traded Concepts LLC now owns 846 shares of the company’s stock valued at $38,000 after acquiring an additional 416 shares during the last quarter. 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.