Nutrien (NYSE:NTR) Given Neutral Rating at Bank of America

Key Points

• Bank of America has restated Nutrien's stock rating as neutral, with a price target of $67.00, indicating a potential upside of 11.66% from its previous close.
• Nutrien's average analyst rating is "Hold" with a consensus target price of $62.61, reflecting mixed sentiments among various analysts.
• The company reported earnings of $2.65 per share, surpassing analyst expectations, with revenues slightly below consensus at $10.30 billion for the last quarter.

Nutrien (NYSE:NTR - Get Free Report)'s stock had its "neutral" rating restated by investment analysts at Bank of America in a research note issued to investors on Tuesday,Benzinga reports. They presently have a $67.00 price objective on the stock. Bank of America's target price indicates a potential upside of 11.66% from the company's previous close.

Several other research firms have also commented on NTR. TD Securities lifted their price objective on shares of Nutrien from $70.00 to $72.00 and gave the stock a "buy" rating in a research note on Monday, August 11th. National Bank Financial began coverage on shares of Nutrien in a research note on Friday, September 5th. They set a "sector perform" rating for the company. Zacks Research lowered shares of Nutrien from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, September 16th. Weiss Ratings reissued a "hold (c)" rating on shares of Nutrien in a research note on Wednesday, October 8th. Finally, National Bankshares began coverage on shares of Nutrien in a research note on Friday, September 5th. They set a "sector perform" rating and a $64.00 target price for the company. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, fourteen have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Nutrien presently has an average rating of "Hold" and a consensus target price of $62.61.

Nutrien Trading Up 0.3%

NTR stock opened at $60.00 on Tuesday. The firm has a fifty day moving average price of $57.74 and a 200 day moving average price of $57.41. Nutrien has a fifty-two week low of $43.69 and a fifty-two week high of $65.08. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.85 and a current ratio of 1.33. The firm has a market cap of $29.11 billion, a PE ratio of 21.51, a price-to-earnings-growth ratio of 0.97 and a beta of 0.82.

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

Hedge Funds Weigh In On Nutrien

Hedge funds have recently modified their holdings of the stock. Harbour Investments Inc. increased its holdings in shares of Nutrien by 94.8% during the first quarter. Harbour Investments Inc. now owns 715 shares of the company's stock valued at $35,000 after acquiring an additional 348 shares in the last quarter. Huntington National Bank increased its holdings in shares of Nutrien by 72.6% during the second quarter. Huntington National Bank now owns 656 shares of the company's stock valued at $38,000 after acquiring an additional 276 shares in the last quarter. Geneos Wealth Management Inc. boosted its position in Nutrien by 42.4% in the second quarter. Geneos Wealth Management Inc. now owns 735 shares of the company's stock valued at $43,000 after buying an additional 219 shares during the last quarter. Trust Co. of Toledo NA OH purchased a new stake in Nutrien in the second quarter valued at approximately $49,000. Finally, Allworth Financial LP boosted its position in Nutrien by 117.1% in the first quarter. Allworth Financial LP now owns 938 shares of the company's stock valued at $50,000 after buying an additional 506 shares during the last quarter. Institutional investors and hedge funds own 63.10% of the company's stock.

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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