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

Nutrien (NYSE:NTR) had its price objective boosted by research analysts at Scotiabank from $60.00 to $62.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm presently has a “sector outperform” rating on the stock. Scotiabank’s target price points to a potential upside of 19.06% from the company’s previous close.

Several other equities research analysts also recently issued reports on NTR. Mizuho increased their price objective on shares of Nutrien from $52.00 to $55.00 and gave the stock a “neutral” rating in a research report on Thursday. Barclays restated an “equal weight” rating and issued a $56.00 price target (up from $55.00) on shares of Nutrien in a report on Tuesday, January 21st. TD Securities reduced their price target on Nutrien from $63.00 to $61.00 and set a “buy” rating for the company in a research report on Tuesday, November 12th. CIBC reiterated an “outperformer” rating and issued a $55.00 price objective (down from $60.00) on shares of Nutrien in a report on Tuesday, December 10th. Finally, Wells Fargo & Company increased their target price on shares of Nutrien from $53.00 to $56.00 and gave the stock an “equal weight” rating in a report on Friday. One research analyst has rated the stock with a sell rating, six have issued a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $59.50.

Nutrien Trading Down 1.0 %

Shares of NTR traded down $0.52 during trading hours on Monday, reaching $52.07. The stock had a trading volume of 217,627 shares, compared to its average volume of 2,347,097. The company has a market cap of $25.51 billion, a P/E ratio of 37.96, a P/E/G ratio of 1.19 and a beta of 0.81. Nutrien has a 52 week low of $43.69 and a 52 week high of $60.87. The company has a quick ratio of 0.82, a current ratio of 1.27 and a debt-to-equity ratio of 0.38. The firm has a 50-day moving average of $49.41 and a 200 day moving average of $48.25.

Nutrien (NYSE:NTR) last issued its quarterly earnings data on Wednesday, February 19th. The company reported $0.28 earnings per share (EPS) for the quarter, missing the consensus estimate 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 analyst estimates of $5.09 billion. On average, sell-side analysts expect that Nutrien will post 3.72 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Nutrien

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Fairway Wealth LLC bought a new position in Nutrien during the fourth quarter worth about $27,000. HHM Wealth Advisors LLC increased its holdings in shares of Nutrien by 331.0% during the fourth 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. raised its position in shares of Nutrien by 1,437.5% in the fourth quarter. Assetmark Inc. now owns 738 shares of the company’s stock valued at $33,000 after buying an additional 690 shares in the last quarter. Asset Planning Inc bought a new stake in shares of Nutrien in the fourth quarter valued at approximately $35,000. Finally, Exchange Traded Concepts LLC grew its position in Nutrien by 96.7% during the fourth quarter. Exchange Traded Concepts LLC now owns 846 shares of the company’s stock worth $38,000 after buying an additional 416 shares in the last quarter. Institutional investors and hedge funds own 63.10% of the company’s stock.

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.