UBS Group Forecasts Strong Price Appreciation for Nutrien (NYSE:NTR) Stock

Key Points

• UBS raised its Nutrien price target from $62 to $63 but maintained a Sell rating, implying about 9.8% downside from the share price cited in the report.
• Analyst views are mixed: the consensus rating is Moderate Buy, with a $79.19 average target; 16 analysts rate the stock Buy, six Hold, and one Sell.
• Nutrien reported quarterly EPS of $0.61, below the $0.74 consensus estimate, while revenue of $5.69 billion slightly beat expectations and rose 0.9% year over year.

Nutrien (NYSE:NTR - Get Free Report) had its price objective raised by stock analysts at UBS Group from $62.00 to $63.00 in a research report issued on Thursday, Benzinga reports. The firm presently has a "sell" rating on the stock. UBS Group's price objective points to a potential downside of 9.84% from the stock's current price.

A number of other research firms have also issued reports on NTR. Freedom Broker reduced their price objective on Nutrien from $78.00 to $76.00 and set a "hold" rating for the company in a research report on Wednesday. Canadian Imperial Bank of Commerce reaffirmed an "outperform" rating on shares of Nutrien in a research report on Monday, August 10th. Oppenheimer cut their target price on Nutrien from $80.00 to $78.00 and set an "outperform" rating on the stock in a research note on Thursday, October 22nd. Royal Bank Of Canada reissued an "outperform" rating and set a $85.00 price target on shares of Nutrien in a report on Friday, September 18th. Finally, Weiss Ratings lowered shares of Nutrien from a "buy (b)" rating to a "buy (b-)" rating in a research report on Monday, October 19th. Sixteen analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $79.19.

Nutrien Stock Down 2.5%

NTR stock traded down $1.78 during mid-day trading on Thursday, hitting $69.87. 151,718 shares of the company were exchanged, compared to its average volume of 2,973,104. The firm has a fifty day simple moving average of $72.64 and a 200 day simple moving average of $71.15. The company has a market capitalization of $33.21 billion, a PE ratio of 15.24, a price-to-earnings-growth ratio of 0.80 and a beta of 0.67. Nutrien has a twelve month low of $54.52 and a twelve month high of $85.36. The company has a current ratio of 1.41, a quick ratio of 0.89 and a debt-to-equity ratio of 0.37.

Nutrien (NYSE:NTR - Get Free Report) last issued its quarterly earnings results on Wednesday, November 4th. The company reported $0.61 EPS for the quarter, missing the consensus estimate of $0.74 by ($0.13). Nutrien had a return on equity of 8.00% and a net margin of 7.78%. The company had revenue of $5.69 billion for the quarter, compared to the consensus estimate of $5.66 billion. During the same period in the previous year, the business posted $0.97 EPS. The business's revenue for the quarter was up .9% on a year-over-year basis. On average, research analysts forecast that Nutrien will post 4.53 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Integrity Alliance LLC. lifted its position in shares of Nutrien by 2.0% in the 3rd quarter. Integrity Alliance LLC. now owns 8,292 shares of the company's stock valued at $584,000 after acquiring an additional 159 shares in the last quarter. Gould Asset Management LLC CA raised its stake in shares of Nutrien by 4.4% in the 1st quarter. Gould Asset Management LLC CA now owns 3,933 shares of the company's stock valued at $297,000 after acquiring an additional 165 shares in the last quarter. Provenance Wealth Advisors LLC raised its position in shares of Nutrien by 39.6% in the third quarter. Provenance Wealth Advisors LLC now owns 747 shares of the company's stock valued at $52,000 after purchasing an additional 212 shares during the period. Somerset Trust Co lifted its position in Nutrien by 2.2% during the 2nd quarter. Somerset Trust Co now owns 10,065 shares of the company's stock worth $634,000 after acquiring an additional 213 shares during the last quarter. Finally, Parvin Asset Management LLC boosted its stake in Nutrien by 4.0% during the 1st quarter. Parvin Asset Management LLC now owns 6,505 shares of the company's stock valued at $491,000 after purchasing an additional 250 shares during the period. Institutional investors and hedge funds own 63.10% of the company's stock.

About Nutrien

Nutrien Ltd. is a Canadian agricultural inputs and services company headquartered in Saskatoon, Saskatchewan. Formed in 2018 through the merger of Agrium and Potash Corporation of Saskatchewan, it serves farmers and other customers through fertilizer production and agricultural retail operations. The company produces potash, nitrogen and phosphate fertilizers, which are used to support crop growth. It also sells crop protection products and seeds, and provides growers with agronomic advice and other services.

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