Nutrien (NYSE:NTR) Given New $59.00 Price Target at Wells Fargo & Company

Nutrien (NYSE:NTR - Get Free Report) had its price objective upped by analysts at Wells Fargo & Company from $56.00 to $59.00 in a research report issued on Monday,Benzinga reports. The firm currently has an "equal weight" rating on the stock. Wells Fargo & Company's price objective suggests a potential upside of 5.44% from the company's previous close.

Several other research firms have also recently weighed in on NTR. Royal Bank of Canada increased their price objective on shares of Nutrien from $60.00 to $65.00 and gave the stock an "outperform" rating in a research report on Monday. BNP Paribas raised Nutrien to a "strong-buy" rating in a research report on Wednesday, April 9th. UBS Group boosted their price objective on Nutrien from $52.00 to $56.00 and gave the company a "neutral" rating in a research note on Thursday. Oppenheimer decreased their target price on Nutrien from $60.00 to $58.00 and set an "outperform" rating for the company in a research note on Tuesday, April 22nd. Finally, CIBC boosted their price target on Nutrien from $64.00 to $66.00 and gave the company an "outperformer" rating in a research note on Tuesday, February 25th. Two analysts have rated the stock with a sell rating, five have issued a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $60.87.

Nutrien Price Performance

Shares of NYSE NTR traded up $0.33 during midday trading on Monday, reaching $55.96. 1,263,966 shares of the company were exchanged, compared to its average volume of 2,125,675. Nutrien has a one year low of $43.70 and a one year high of $60.87. The stock's 50-day moving average price is $51.97 and its 200-day moving average price is $49.98. The company has a quick ratio of 0.82, a current ratio of 1.27 and a debt-to-equity ratio of 0.38. The stock has a market cap of $27.32 billion, a P/E ratio of 40.82, a PEG ratio of 1.19 and a beta of 0.79.

Nutrien (NYSE:NTR - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The company reported $0.11 earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.24). Nutrien had a net margin of 2.62% and a return on equity of 6.81%. The company had revenue of $4.67 billion during the quarter, compared to analyst estimates of $5.16 billion. During the same period in the previous year, the company posted $0.46 EPS. The company's quarterly revenue was down 5.4% on a year-over-year basis. On average, sell-side analysts anticipate that Nutrien will post 3.72 earnings per share for the current fiscal year.

Institutional Trading of Nutrien

A number of hedge funds have recently bought and sold shares of the business. Fairway Wealth LLC purchased a new stake in Nutrien during the fourth quarter worth about $27,000. HHM Wealth Advisors LLC raised its holdings in shares of Nutrien by 331.0% in the 4th quarter. HHM Wealth Advisors LLC now owns 625 shares of the company's stock worth $28,000 after purchasing an additional 480 shares during the period. Assetmark Inc. lifted its stake in Nutrien by 1,437.5% in the fourth quarter. Assetmark Inc. now owns 738 shares of the company's stock valued at $33,000 after purchasing an additional 690 shares during the last quarter. Asset Planning Inc bought a new position in Nutrien during the fourth quarter valued at $35,000. Finally, Harbour Investments Inc. increased its position in Nutrien by 94.8% in the first quarter. Harbour Investments Inc. now owns 715 shares of the company's stock worth $35,000 after buying an additional 348 shares during the last quarter. 63.10% of the stock is currently owned by institutional investors.

About Nutrien

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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