Barclays Cuts Nutrien (NYSE:NTR) Price Target to $81.00

Key Points

• Barclays lowered Nutrien’s price target from $85 to $81 while maintaining an “overweight” rating, implying 18.81% upside from the prior close.
• Analyst sentiment remains positive overall, with 15 Buy, five Hold, and one Sell rating; Nutrien has a consensus “Moderate Buy” rating and average target price of $81.94.
• Nutrien’s latest quarterly results exceeded expectations, reporting $0.51 in EPS versus a $0.48 estimate and $6.05 billion in revenue, up 18.5% year over year.

Nutrien (NYSE:NTR - Get Free Report) had its target price cut by analysts at Barclays from $85.00 to $81.00 in a note issued to investors on Monday,Benzinga reports. The firm currently has an "overweight" rating on the stock. Barclays's price objective suggests a potential upside of 18.81% from the stock's previous close.

A number of other equities research analysts have also recently commented on the company. TD Securities reaffirmed a "buy" rating on shares of Nutrien in a research note on Wednesday, May 6th. Berenberg Bank set a $65.00 target price on Nutrien and gave the stock a "hold" rating in a research report on Wednesday, June 10th. Weiss Ratings raised Nutrien from a "hold (c)" rating to a "hold (c+)" rating in a research note on Monday, June 1st. Oppenheimer lowered their price target on Nutrien from $82.00 to $80.00 and set an "outperform" rating for the company in a research note on Thursday. Finally, Royal Bank Of Canada increased their price target 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. Fifteen research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Nutrien currently has an average rating of "Moderate Buy" and a consensus target price of $81.94.

Nutrien Trading Up 0.1%

Shares of NYSE NTR opened at $68.18 on Monday. The company's 50 day simple moving average is $66.52 and its 200 day simple moving average is $70.09. Nutrien has a fifty-two week low of $53.03 and a fifty-two week high of $85.36. The firm has a market capitalization of $32.61 billion, a P/E ratio of 13.89, a P/E/G ratio of 0.67 and a beta of 0.62. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.24 and a quick ratio of 0.59.

Nutrien (NYSE:NTR - Get Free Report) last released its earnings results on Wednesday, May 6th. The company reported $0.51 EPS for the quarter, topping analysts' consensus estimates of $0.48 by $0.03. The firm had revenue of $6.05 billion during the quarter, compared to analyst estimates of $5.30 billion. Nutrien had a net margin of 8.58% and a return on equity of 8.84%. The business's quarterly revenue was up 18.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.11 EPS. On average, analysts predict that Nutrien will post 5.08 EPS for the current year.

Hedge Funds Weigh In On Nutrien

A number of large investors have recently added to or reduced their stakes in NTR. MH & Associates Securities Management Corp ADV acquired a new position in Nutrien during the 4th quarter worth approximately $1,967,000. TD Waterhouse Canada Inc. grew its position in Nutrien by 4.2% in the fourth quarter. TD Waterhouse Canada Inc. now owns 2,359,022 shares of the company's stock valued at $145,257,000 after purchasing an additional 94,510 shares in the last quarter. Vanguard Group Inc. increased its stake in Nutrien by 2.2% in the 4th quarter. Vanguard Group Inc. now owns 22,463,277 shares of the company's stock valued at $1,386,546,000 after buying an additional 479,834 shares during the last quarter. BCS Private Wealth Management Inc. lifted its position in Nutrien by 501.5% during the 4th quarter. BCS Private Wealth Management Inc. now owns 65,913 shares of the company's stock worth $4,104,000 after buying an additional 54,955 shares in the last quarter. Finally, Black Creek Investment Management Inc. boosted its stake in shares of Nutrien by 7.9% during the 4th quarter. Black Creek Investment Management Inc. now owns 2,553,108 shares of the company's stock worth $157,796,000 after buying an additional 185,864 shares during the last quarter. Institutional investors own 63.10% of the company's stock.

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.

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