Jefferies Financial Group Lowers Nutrien (NYSE:NTR) Price Target to $60.00

Key Points

• Jefferies Financial Group has lowered its price target for Nutrien (NYSE:NTR) from $61.00 to $60.00, maintaining a "hold" rating on the stock, suggesting a potential upside of 5.46% from its previous close.
• Nutrien's stock saw a 0.7% decrease on Tuesday, currently trading at $56.90, with an average price target of $62.39 as estimated by market analysts.
• Recent reports indicate that numerous brokerages have varied ratings for Nutrien, with two analysts giving a Strong Buy rating, six a Buy rating, and eleven a Hold rating on the stock.

Nutrien (NYSE:NTR - Get Free Report) had its price objective dropped by analysts at Jefferies Financial Group from $61.00 to $60.00 in a research report issued on Tuesday,BayStreet.CA reports. The firm currently has a "hold" rating on the stock. Jefferies Financial Group's price target suggests a potential upside of 5.46% from the stock's previous close.

A number of other brokerages have also recently issued reports on NTR. National Bank Financial began coverage on Nutrien in a research report on Friday. They set a "sector perform" rating for the company. Wells Fargo & Company upped their target price on Nutrien from $59.00 to $62.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 17th. Oppenheimer increased their price objective on Nutrien from $63.00 to $65.00 and gave the company an "outperform" rating in a research report on Tuesday, July 15th. Barclays boosted their target price on shares of Nutrien from $61.00 to $64.00 and gave the stock an "equal weight" rating in a research report on Monday, July 7th. Finally, Morgan Stanley boosted their target price on shares of Nutrien from $60.00 to $65.00 and gave the stock an "equal weight" rating in a research report on Thursday, June 26th. Two investment analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $62.39.

Nutrien Stock Down 0.7%

NYSE:NTR traded down $0.43 during trading hours on Tuesday, hitting $56.90. The stock had a trading volume of 864,453 shares, compared to its average volume of 2,265,711. The company has a current ratio of 1.33, a quick ratio of 0.85 and a debt-to-equity ratio of 0.39. Nutrien has a 1-year low of $43.69 and a 1-year high of $65.08. The business has a 50 day simple moving average of $58.64 and a two-hundred day simple moving average of $56.21. The company has a market cap of $27.65 billion, a PE ratio of 20.39, a price-to-earnings-growth ratio of 0.95 and a beta of 0.77.

Nutrien (NYSE:NTR - Get Free Report) last posted its earnings results on Wednesday, August 6th. The company reported $2.65 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.41 by $0.24. The company had revenue of $10.30 billion for the quarter, compared to analysts' expectations of $10.40 billion. Nutrien had a return on equity of 6.51% and a net margin of 5.25%.The firm's quarterly revenue was up 2.8% compared to the same quarter last year. During the same period last year, the business posted $2.34 earnings per share. Analysts predict that Nutrien will post 3.72 EPS for the current year.

Hedge Funds Weigh In On Nutrien

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its holdings in Nutrien by 3.4% during the second quarter. Vanguard Group Inc. now owns 21,903,308 shares of the company's stock valued at $1,276,328,000 after acquiring an additional 712,305 shares during the period. First Eagle Investment Management LLC grew its position in shares of Nutrien by 14.0% during the second quarter. First Eagle Investment Management LLC now owns 13,268,229 shares of the company's stock valued at $772,742,000 after purchasing an additional 1,627,328 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its position in shares of Nutrien by 48.5% during the second quarter. Arrowstreet Capital Limited Partnership now owns 11,944,730 shares of the company's stock valued at $696,058,000 after purchasing an additional 3,900,755 shares in the last quarter. Canada Pension Plan Investment Board grew its position in shares of Nutrien by 17.1% during the first quarter. Canada Pension Plan Investment Board now owns 8,786,309 shares of the company's stock valued at $436,137,000 after purchasing an additional 1,284,181 shares in the last quarter. Finally, Mackenzie Financial Corp grew its position in shares of Nutrien by 0.7% during the first quarter. Mackenzie Financial Corp now owns 7,855,609 shares of the company's stock valued at $389,860,000 after purchasing an additional 54,918 shares in the last quarter. 63.10% of the stock is owned by institutional investors.

Nutrien Company Profile

Nutrien Ltd. provides crop inputs and services. The company operates through four segments: Retail, Potash, Nitrogen, and Phosphate. The Retail segment distributes crop nutrients, crop protection products, seeds, and merchandise products. The Potash segment provides granular and standard potash products.

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