Royal Bank Of Canada Issues Positive Forecast for CF Industries (NYSE:CF) Stock Price

Key Points

• Royal Bank of Canada raised its CF Industries price target from $115 to $125, while maintaining a “sector perform” rating; the new target implies 4.69% upside from the prior close.
• Analyst sentiment remains cautious overall: CF has a consensus “Hold” rating and an average price target of $123.15, with 12 analysts rating it Hold.
• CF Industries’ latest quarterly results were mixed: earnings per share of $2.87 fell short of the $3.00 estimate, while revenue of $1.86 billion exceeded expectations and rose 12.1% year over year.

CF Industries (NYSE:CF - Get Free Report) had its target price hoisted by investment analysts at Royal Bank Of Canada from $115.00 to $125.00 in a research note issued to investors on Monday, Benzinga reports. The firm currently has a "sector perform" rating on the basic materials company's stock. Royal Bank Of Canada's target price would indicate a potential upside of 4.69% from the company's previous close.

A number of other equities analysts have also recently commented on CF. UBS Group lifted their target price on shares of CF Industries from $123.00 to $134.00 and gave the company a "neutral" rating in a report on Tuesday, October 27th. Freedom Broker decreased their price target on shares of CF Industries from $133.00 to $129.00 and set a "hold" rating for the company in a research note on Monday, November 2nd. Canadian Imperial Bank of Commerce raised their price objective on shares of CF Industries from $125.00 to $133.00 and gave the stock a "neutral" rating in a research report on Friday, October 23rd. KeyCorp began coverage on shares of CF Industries in a research report on Thursday, September 10th. They set an "underweight" rating and a $115.00 price objective on the stock. Finally, Truist Financial set a $129.00 price objective on shares of CF Industries in a research note on Monday, November 2nd. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, twelve have issued a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $123.15.

CF Industries Trading Up 0.0%

NYSE:CF opened at $119.40 on Monday. The company has a market capitalization of $18.07 billion, a PE ratio of 8.43, a P/E/G ratio of 0.24 and a beta of 0.54. CF Industries has a 52-week low of $75.42 and a 52-week high of $141.96. The stock's 50 day moving average price is $122.45 and its 200 day moving average price is $116.74. The company has a quick ratio of 2.68, a current ratio of 2.98 and a debt-to-equity ratio of 0.36.

CF Industries (NYSE:CF - Get Free Report) last issued its quarterly earnings data on Wednesday, November 4th. The basic materials company reported $2.87 earnings per share for the quarter, missing analysts' consensus estimates of $3.00 by ($0.13). The firm had revenue of $1.86 billion during the quarter, compared to analysts' expectations of $1.77 billion. CF Industries had a net margin of 27.48% and a return on equity of 24.52%. CF Industries's quarterly revenue was up 12.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.19 EPS. On average, research analysts anticipate that CF Industries will post 13.68 EPS for the current year.

Institutional Investors Weigh In On CF Industries

Several large investors have recently modified their holdings of the stock. BlackRock Inc. acquired a new position in CF Industries during the second quarter valued at approximately $1,410,607,000. Dimensional Fund Advisors LP grew its stake in shares of CF Industries by 3.4% during the first quarter. Dimensional Fund Advisors LP now owns 4,458,907 shares of the basic materials company's stock valued at $579,062,000 after acquiring an additional 146,682 shares in the last quarter. Bank of America Corp DE grew its stake in CF Industries by 8.4% during the 1st quarter. Bank of America Corp DE now owns 2,048,671 shares of the basic materials company's stock valued at $265,999,000 after purchasing an additional 158,119 shares in the last quarter. Bank of New York Mellon Corp acquired a new stake in shares of CF Industries during the second quarter worth approximately $198,857,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of CF Industries by 1.9% in the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,747,078 shares of the basic materials company's stock worth $189,139,000 after buying an additional 32,293 shares during the last quarter. Hedge funds and other institutional investors own 93.06% of the company's stock.

CF Industries Company Profile

CF Industries Holdings, Inc is a producer and distributor of nitrogen fertilizer and related products. Its main offerings include ammonia, granular urea, urea ammonium nitrate (UAN) and ammonium nitrate, which are used primarily to support crop production. The company also supplies nitrogen products for industrial applications, including emissions control and chemical manufacturing.

Founded in 1946 as the Central Farmers Fertilizer Company, CF Industries grew from a cooperative serving agricultural retailers into a major nitrogen producer.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.