Nutrien (NYSE:NTR) Coverage Initiated by Analysts at Freedom Broker

Key Points

• Freedom Broker initiated coverage of Nutrien with a “hold” rating and a $78 price target, implying approximately 12.7% upside from the reported share price.
• Analyst sentiment remains generally positive: Nutrien has an overall “Moderate Buy” rating, with 16 Buy, six Hold, and one Sell rating, and an average price target of $79.71.
• Nutrien’s latest quarterly results were mixed, with EPS of $2.61 missing estimates of $2.70 while revenue reached $10.81 billion, exceeding forecasts; institutional investors own 63.1% of the stock.

Stock analysts at Freedom Broker assumed coverage on shares of Nutrien (NYSE:NTR - Get Free Report) in a research note issued to investors on Tuesday, Benzinga reports. The brokerage set a "hold" rating and a $78.00 price target on the stock. Freedom Broker's target price suggests a potential upside of 12.69% from the stock's current price.

Several other analysts also recently issued reports on the company. Barclays dropped their price target on Nutrien from $81.00 to $78.00 and set an "overweight" rating on the stock in a research note on Monday, August 10th. set a $85.00 target price on shares of Nutrien and gave the stock an "outperform" rating in a research note on Monday, October 5th. National Bank Financial dropped their target price on Nutrien from $76.00 to $74.00 and set an "outperform" rating for the company in a report on Monday, August 10th. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $85.00 target price on shares of Nutrien in a report on Friday, September 18th. Finally, KeyCorp began coverage on Nutrien in a research note on Thursday, September 10th. They set a "sector weight" rating and a $73.00 price target on the stock. Sixteen investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $79.71.

Nutrien Price Performance

Shares of NTR stock traded up $0.99 during trading hours on Tuesday, hitting $69.21. 755,365 shares of the company's stock were exchanged, compared to its average volume of 3,040,292. Nutrien has a 52 week low of $53.03 and a 52 week high of $85.36. The stock has a market cap of $32.96 billion, a price-to-earnings ratio of 14.01, a price-to-earnings-growth ratio of 0.76 and a beta of 0.68. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.39 and a quick ratio of 0.86. The stock's 50-day moving average is $73.24 and its 200-day moving average is $70.75.

Nutrien (NYSE:NTR - Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $2.61 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.70 by ($0.09). The firm had revenue of $10.81 billion for the quarter, compared to analyst estimates of $10.44 billion. Nutrien had a return on equity of 8.88% and a net margin of 8.44%. The firm's quarterly revenue was up 3.6% compared to the same quarter last year. During the same period in the prior year, the company posted $2.65 EPS. As a group, research analysts forecast that Nutrien will post 4.56 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Wellington Management Group LLP purchased a new position in shares of Nutrien in the second quarter valued at $654,081,000. Deutsche Bank AG purchased a new stake in shares of Nutrien in the 2nd quarter worth about $588,720,000. TD Waterhouse Canada Inc. raised its holdings in Nutrien by 10.5% in the third quarter. TD Waterhouse Canada Inc. now owns 6,096,905 shares of the company's stock worth $424,331,000 after purchasing an additional 578,470 shares in the last quarter. The Manufacturers Life Insurance Company purchased a new stake in shares of Nutrien in the second quarter worth $375,178,000. Finally, Dimensional Fund Advisors LP boosted its stake in Nutrien by 4.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 5,872,194 shares of the company's stock valued at $443,151,000 after purchasing an additional 239,946 shares during the last quarter. 63.10% of the stock is currently owned by hedge funds and other institutional investors.

Nutrien Company Profile

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