Nutrien (NYSE:NTR) Price Target Raised to $65.00 at Morgan Stanley

Nutrien (NYSE:NTR - Get Free Report) had its price target lifted by equities research analysts at Morgan Stanley from $60.00 to $65.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage presently has an "equal weight" rating on the stock. Morgan Stanley's price objective indicates a potential upside of 10.58% from the stock's current price.

NTR has been the topic of a number of other research reports. Bank of America boosted their price objective on Nutrien from $60.00 to $63.00 and gave the stock a "buy" rating in a research note on Wednesday, May 14th. BNP Paribas upgraded shares of Nutrien to a "strong-buy" rating in a research report on Wednesday, April 9th. Raymond James Financial lowered shares of Nutrien from an "outperform" rating to a "market perform" rating and set a $68.00 price objective on the stock. in a report on Tuesday, June 17th. Scotiabank downgraded shares of Nutrien from an "outperform" rating to a "sector perform" rating and set a $62.00 target price for the company. in a research note on Thursday, May 22nd. Finally, The Goldman Sachs Group upped their target price on shares of Nutrien from $53.00 to $59.00 and gave the stock a "sell" rating in a research report on Friday, May 9th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Nutrien has a consensus rating of "Hold" and a consensus target price of $62.12.

Nutrien Price Performance

NYSE:NTR traded up $0.14 during trading hours on Thursday, reaching $58.78. The company had a trading volume of 340,037 shares, compared to its average volume of 2,338,554. The firm has a market capitalization of $28.63 billion, a PE ratio of 54.93, a PEG ratio of 1.13 and a beta of 0.81. The stock has a 50-day moving average of $58.11 and a two-hundred day moving average of $52.71. Nutrien has a one year low of $43.69 and a one year high of $65.08. The company has a quick ratio of 0.59, a current ratio of 1.22 and a debt-to-equity ratio of 0.41.

Nutrien (NYSE:NTR - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The company reported $0.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.24). The firm had revenue of $4.67 billion for the quarter, compared to the consensus estimate of $5.16 billion. Nutrien had a net margin of 2.05% and a return on equity of 6.08%. The company's revenue for the quarter was down 5.4% on a year-over-year basis. During the same period in the prior year, the business earned $0.46 earnings per share. Analysts forecast that Nutrien will post 3.72 earnings per share for the current year.

Institutional Investors Weigh In On Nutrien

Hedge funds have recently modified their holdings of the business. Vanguard Group Inc. increased its position in shares of Nutrien by 7.1% during the first quarter. Vanguard Group Inc. now owns 21,191,003 shares of the company's stock worth $1,051,709,000 after acquiring an additional 1,412,503 shares in the last quarter. Dodge & Cox boosted its stake in Nutrien by 0.3% in the 4th quarter. Dodge & Cox now owns 12,523,259 shares of the company's stock worth $560,416,000 after purchasing an additional 40,800 shares during the period. First Eagle Investment Management LLC increased its holdings in Nutrien by 0.8% during the 4th quarter. First Eagle Investment Management LLC now owns 9,529,311 shares of the company's stock worth $426,436,000 after purchasing an additional 77,174 shares in the last quarter. Canada Pension Plan Investment Board increased its holdings in Nutrien by 17.1% during the 1st quarter. Canada Pension Plan Investment Board now owns 8,786,309 shares of the company's stock worth $436,137,000 after purchasing an additional 1,284,181 shares in the last quarter. Finally, Mackenzie Financial Corp raised its stake in shares of Nutrien by 0.7% in the 1st 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 during the period. Institutional investors and hedge funds own 63.10% of the company's stock.

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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