Nutrien (NYSE:NTR) Price Target Lowered to $63.00 at Scotiabank

Nutrien (NYSE:NTR) had its price objective lowered by research analysts at Scotiabank from $65.00 to $63.00 in a report released on Monday,Benzinga reports. The firm currently has a “sector perform” rating on the stock. Scotiabank’s price target suggests a potential upside of 8.67% from the stock’s previous close.

Several other research firms have also recently issued reports on NTR. Royal Bank Of Canada reissued an “outperform” rating on shares of Nutrien in a research report on Monday, July 14th. Mizuho lowered their price target on Nutrien from $64.00 to $61.00 and set a “neutral” rating for the company in a report on Thursday. Weiss Ratings reissued a “hold (c)” rating on shares of Nutrien in a research note on Wednesday, October 8th. Wall Street Zen lowered Nutrien from a “strong-buy” rating to a “buy” rating in a research report on Friday, September 5th. Finally, UBS Group dropped their price target on Nutrien from $63.00 to $58.00 and set a “neutral” rating on the stock in a research report on Thursday. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, fourteen have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $63.00.

Nutrien Trading Up 1.9%

NYSE NTR traded up $1.09 on Monday, hitting $57.97. 665,793 shares of the stock were exchanged, compared to its average volume of 2,355,882. Nutrien has a 52-week low of $43.69 and a 52-week high of $65.08. The firm has a market capitalization of $28.08 billion, a P/E ratio of 20.77, a P/E/G ratio of 0.92 and a beta of 0.83. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.85 and a current ratio of 1.33. The stock has a fifty day moving average price of $57.38 and a two-hundred day moving average price of $58.26.

Nutrien (NYSE:NTR) last issued its quarterly earnings results on Wednesday, November 5th. The company reported $0.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.91 by $0.06. The firm had revenue of $5.82 billion during the quarter, compared to analyst estimates of $5.59 billion. Nutrien had a return on equity of 6.51% and a net margin of 5.25%.Nutrien’s quarterly revenue was up 12.3% compared to the same quarter last year. During the same period last year, the company earned $0.39 EPS. Research analysts forecast that Nutrien will post 3.72 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of NTR. Intech Investment Management LLC lifted its holdings in shares of Nutrien by 284.0% in the 1st quarter. Intech Investment Management LLC now owns 69,128 shares of the company’s stock valued at $3,430,000 after buying an additional 51,126 shares during the period. Covea Finance boosted its position in Nutrien by 16.5% in the 2nd quarter. Covea Finance now owns 73,500 shares of the company’s stock worth $4,265,000 after purchasing an additional 10,400 shares in the last quarter. Belpointe Asset Management LLC acquired a new position in shares of Nutrien in the 1st quarter valued at $311,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of Nutrien by 1.0% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 736,996 shares of the company’s stock valued at $36,607,000 after buying an additional 7,194 shares in the last quarter. Finally, IFP Advisors Inc boosted its holdings in Nutrien by 12.3% in the 2nd quarter. IFP Advisors Inc now owns 52,426 shares of the company’s stock worth $3,053,000 after buying an additional 5,752 shares during the last quarter. 63.10% of the stock is currently owned by hedge funds and other 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.