Nutrien (NYSE:NTR) Given New $80.00 Price Target at Oppenheimer

Key Points

• Oppenheimer lowered Nutrien’s price target from $82 to $80 while keeping an outperform rating, implying about 16.24% upside from the prior close.
• Despite mixed analyst sentiment overall, Nutrien’s consensus rating remains Moderate Buy, with an average target price of $81.89 based on MarketBeat data.
• The stock rose 0.5% to $68.83 on Thursday, and the company recently reported quarterly earnings of $0.51 per share on $6.05 billion in revenue, both above estimates.

Nutrien (NYSE:NTR - Get Free Report) had its price target reduced by stock analysts at Oppenheimer from $82.00 to $80.00 in a note issued to investors on Thursday,Benzinga reports. The firm currently has an "outperform" rating on the stock. Oppenheimer's price objective suggests a potential upside of 16.24% from the company's previous close.

Several other brokerages also recently issued reports on NTR. Wall Street Zen downgraded shares of Nutrien from a "buy" rating to a "hold" rating in a report on Saturday, May 16th. TD Securities reaffirmed a "buy" rating on shares of Nutrien in a report on Wednesday, May 6th. UBS Group dropped their price objective on shares of Nutrien from $67.00 to $65.00 and set a "sell" rating on the stock in a report on Monday, May 11th. JPMorgan Chase & Co. lifted their price objective on shares of Nutrien from $78.00 to $80.00 and gave the company an "overweight" rating in a research report on Monday, May 11th. Finally, Mizuho reduced their target price on shares of Nutrien from $77.00 to $75.00 and set a "neutral" rating for the company in a research note on Tuesday, July 14th. Fourteen investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Nutrien has an average rating of "Moderate Buy" and an average target price of $81.89.

Nutrien Stock Up 0.5%

Shares of NTR stock traded up $0.33 during mid-day trading on Thursday, reaching $68.83. 322,355 shares of the company were exchanged, compared to its average volume of 3,226,086. Nutrien has a fifty-two week low of $53.03 and a fifty-two week high of $85.36. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.59 and a current ratio of 1.24. The company has a market capitalization of $32.92 billion, a P/E ratio of 14.01, a P/E/G ratio of 0.65 and a beta of 0.62. The business's 50 day simple moving average is $66.64 and its 200 day simple moving average is $70.01.

Nutrien (NYSE:NTR - Get Free Report) last announced its quarterly earnings data on Wednesday, May 6th. The company reported $0.51 earnings per share for the quarter, beating the consensus estimate 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 return on equity of 8.84% and a net margin of 8.58%.Nutrien's quarterly revenue was up 18.5% on a year-over-year basis. During the same period in the previous year, the company earned $0.11 earnings per share. Research analysts predict that Nutrien will post 5.11 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Wellington Management Group LLP lifted its position in Nutrien by 440.2% in the fourth quarter. Wellington Management Group LLP now owns 16,338,606 shares of the company's stock worth $1,008,713,000 after purchasing an additional 13,313,817 shares during the period. Norges Bank bought a new position in Nutrien during the 4th quarter valued at $412,635,000. TD Asset Management Inc increased its position in shares of Nutrien by 21.2% during the 4th quarter. TD Asset Management Inc now owns 8,928,534 shares of the company's stock valued at $551,821,000 after purchasing an additional 1,559,673 shares during the period. DJE Kapital AG increased its position in shares of Nutrien by 1,373.6% during the 1st quarter. DJE Kapital AG now owns 1,534,869 shares of the company's stock valued at $116,111,000 after purchasing an additional 1,430,708 shares during the period. Finally, Canoe Financial LP bought a new stake in shares of Nutrien in the 1st quarter worth $99,603,000. 63.10% of the stock is owned by institutional investors and hedge funds.

Nutrien Company Profile

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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