Nutrien (NYSE:NTR) Given New $80.00 Price Target at Oppenheimer

Nutrien (NYSE:NTR) had its price objective increased by stock analysts at Oppenheimer from $78.00 to $80.00 in a research report issued on Wednesday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Oppenheimer’s target price would suggest a potential upside of 10.80% from the company’s previous close.

Other analysts also recently issued research reports about the stock. Bank of America increased their target price on shares of Nutrien from $75.00 to $81.00 and gave the company a “neutral” rating in a research report on Wednesday, March 18th. TD Securities increased their target price on shares of Nutrien from $80.00 to $81.00 and gave the company a “buy” rating in a research report on Tuesday, February 17th. Royal Bank Of Canada increased their target price on shares of Nutrien from $80.00 to $85.00 and gave the company an “outperform” rating in a research report on Tuesday, April 7th. Jefferies Financial Group raised shares of Nutrien from a “hold” rating to a “buy” rating and increased their target price for the company from $74.00 to $96.00 in a research report on Thursday, March 12th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Nutrien from $68.00 to $78.00 and gave the stock an “overweight” rating in a research report on Friday, February 20th. Ten analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $80.06.

Nutrien Trading Down 0.6%

NYSE:NTR traded down $0.47 on Wednesday, reaching $72.20. 259,305 shares of the stock traded hands, compared to its average volume of 3,581,421. The firm has a market capitalization of $34.71 billion, a price-to-earnings ratio of 15.52 and a beta of 0.69. The company’s 50 day moving average is $74.58 and its 200-day moving average is $65.99. The company has a current ratio of 1.34, a quick ratio of 0.70 and a debt-to-equity ratio of 0.37. Nutrien has a 1-year low of $52.34 and a 1-year high of $85.36.

Nutrien (NYSE:NTR) last released its earnings results on Wednesday, February 18th. The company reported $0.83 earnings per share for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.04). The firm had revenue of $5.12 billion for the quarter, compared to analyst estimates of $5.26 billion. Nutrien had a net margin of 8.43% and a return on equity of 8.41%. The business’s revenue for the quarter was up 5.1% compared to the same quarter last year. During the same period in the prior year, the company posted $0.31 EPS. Equities research analysts anticipate that Nutrien will post 4.69 EPS for the current fiscal year.

Hedge Funds Weigh In On Nutrien

Large investors have recently modified their holdings of the company. Wellington Management Group LLP lifted its stake in Nutrien by 440.2% during the 4th quarter. Wellington Management Group LLP now owns 16,338,606 shares of the company’s stock valued at $1,008,713,000 after acquiring an additional 13,313,817 shares in the last quarter. Norges Bank bought a new position in Nutrien during the 4th quarter valued at $412,635,000. Arrowstreet Capital Limited Partnership lifted its stake in Nutrien by 19.1% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 14,221,381 shares of the company’s stock valued at $834,962,000 after acquiring an additional 2,276,651 shares in the last quarter. TD Asset Management Inc lifted its stake in Nutrien by 21.2% during the 4th quarter. TD Asset Management Inc now owns 8,928,534 shares of the company’s stock valued at $551,821,000 after acquiring an additional 1,559,673 shares in the last quarter. Finally, OMERS ADMINISTRATION Corp lifted its stake in Nutrien by 5,891.2% during the 4th quarter. OMERS ADMINISTRATION Corp now owns 1,240,184 shares of the company’s stock valued at $76,650,000 after acquiring an additional 1,219,484 shares in the last quarter. 63.10% of the stock is currently owned by institutional investors.

About Nutrien

Nutrien Ltd. is a global fertilizer and agricultural-services company headquartered in Saskatoon, Saskatchewan, Canada. The company is publicly traded and operates across the farm input value chain, combining upstream fertilizer production with a broad retail and services platform aimed at supporting crop production worldwide. Nutrien’s business model integrates the manufacture and distribution of crop nutrients with on-the-ground agronomic support for growers and agricultural businesses.

Nutrien produces and supplies the three primary fertilizer nutrients—potash, nitrogen and phosphate—through its wholesale operations, and markets a wide range of crop inputs including seeds and crop protection products.