Nutrien (NYSE:NTR) Upgraded by KeyCorp to "Hold" Rating

Key Points

• KeyCorp upgraded Nutrien to a “Hold” rating, while the broader analyst consensus remains “Moderate Buy” with an average price target of $81.15.
• Nutrien shares slipped 0.3% to $78.47. The stock has traded between $53.03 and $85.36 over the past year and carries a market capitalization of approximately $37.44 billion.
• The company’s latest quarterly results were mixed: revenue reached $10.81 billion and rose 3.6% year over year, but earnings per share of $2.61 fell short of the $2.70 analyst consensus.

Nutrien (NYSE:NTR - Get Free Report) was upgraded by analysts at KeyCorp to a "hold" rating in a research note issued on Thursday, Zacks reports.

A number of other analysts have also commented on NTR. Canadian Imperial Bank of Commerce reiterated an "outperform" rating on shares of Nutrien in a research note on Monday, August 10th. Morgan Stanley decreased their price objective on Nutrien from $93.00 to $81.00 and set an "overweight" rating on the stock in a research note on Tuesday, July 7th. Mizuho reduced their price objective on shares of Nutrien from $77.00 to $75.00 and set a "neutral" rating for the company in a research note on Tuesday, July 14th. Oppenheimer decreased their price objective on shares of Nutrien from $82.00 to $80.00 and set an "outperform" rating on the stock in a research report on Thursday, July 23rd. Finally, Weiss Ratings raised Nutrien from a "hold (c+)" rating to a "buy (b-)" rating in a report on Thursday, August 6th. Seventeen research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Nutrien presently has a consensus rating of "Moderate Buy" and an average target price of $81.15.

Nutrien Stock Down 0.3%

Shares of NYSE:NTR traded down $0.27 during midday trading on Thursday, reaching $78.47. The company's stock had a trading volume of 2,268,760 shares, compared to its average volume of 3,121,405. Nutrien has a 12-month low of $53.03 and a 12-month high of $85.36. The company has a quick ratio of 0.86, a current ratio of 1.39 and a debt-to-equity ratio of 0.36. The firm has a 50 day moving average of $70.43 and a 200-day moving average of $71.09. The firm has a market capitalization of $37.44 billion, a P/E ratio of 15.88, a PEG ratio of 0.86 and a beta of 0.62.

Nutrien (NYSE:NTR - Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $2.61 earnings per share for the quarter, missing analysts' consensus estimates of $2.70 by ($0.09). The company had revenue of $10.81 billion for the quarter, compared to the consensus estimate of $10.44 billion. Nutrien had a net margin of 8.44% and a return on equity of 8.88%. The firm's quarterly revenue was up 3.6% on a year-over-year basis. During the same period last year, the business earned $2.65 EPS. On average, research analysts anticipate that Nutrien will post 4.71 earnings per share for the current year.

Institutional Trading of Nutrien

Several institutional investors and hedge funds have recently made changes to their positions in NTR. Thurston Springer Miller Herd & Titak Inc. raised its holdings in shares of Nutrien by 1,014.0% in the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 479 shares of the company's stock valued at $30,000 after purchasing an additional 436 shares in the last quarter. Global Retirement Partners LLC bought a new position in Nutrien in the second quarter worth approximately $30,000. Evolution Wealth Management Inc. purchased a new stake in Nutrien during the first quarter worth $32,000. Allied Private Wealth LLC bought a new stake in Nutrien during the 2nd quarter valued at $33,000. Finally, Sfam LLC bought a new stake in Nutrien during the 4th quarter valued at $37,000. 63.10% of the stock is currently owned by institutional investors.

About Nutrien

Nutrien Ltd. NYSE: NTR is a global provider of crop inputs and agricultural services. The company produces and distributes essential nutrients, including potash, nitrogen and phosphate products, which farmers use to support crop growth and improve yields.

Through its retail operations, Nutrien supplies farmers with seed, crop protection products, fertilizers and agronomic services. Its retail network also provides farm management recommendations, application services and other solutions designed to help growers manage their operations and use agricultural inputs more efficiently.

Nutrien was formed in 2018 through the merger of Potash Corporation of Saskatchewan and Agrium.

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