Nutrien (NYSE:NTR) Price Target Raised to $93.00

Key Points

• Morgan Stanley raised its price target on Nutrien to $93.00 (from $77.00) with an "overweight" rating, implying about a 28.96% upside from the prior close.
• Analyst views are mixed overall: the average target price is $78.50 with 11 Buys, 8 Holds and 2 Sells among covering analysts.
• Nutrien shares fell to $72.11 mid-day after the company reported Q4 EPS of $0.83 versus a $0.87 consensus and revenue slightly below expectations; the stock trades at a P/E of 15.37 and a market cap of about $34.7 billion.

Nutrien (NYSE:NTR - Get Free Report) had its price target lifted by research analysts at Morgan Stanley from $77.00 to $93.00 in a report issued on Wednesday,Benzinga reports. The brokerage currently has an "overweight" rating on the stock. Morgan Stanley's target price indicates a potential upside of 28.96% from the company's previous close.

A number of other brokerages have also commented on NTR. TD Securities increased their price target on shares of Nutrien from $80.00 to $81.00 and gave the stock a "buy" rating in a report on Tuesday, February 17th. UBS Group lowered shares of Nutrien from a "neutral" rating to a "sell" rating and upped their target price for the stock from $63.00 to $67.00 in a research report on Thursday, March 26th. Oppenheimer increased their target price on Nutrien from $76.00 to $78.00 and gave the company an "outperform" rating in a research note on Thursday, February 26th. Weiss Ratings upgraded Nutrien from a "hold (c)" rating to a "buy (b-)" rating in a research report on Monday, March 2nd. Finally, JPMorgan Chase & Co. lifted their price target on Nutrien from $68.00 to $78.00 and gave the stock an "overweight" rating in a research note on Friday, February 20th. Eleven investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $78.50.

Nutrien Price Performance

Shares of NTR traded down $4.77 during mid-day trading on Wednesday, reaching $72.11. 771,656 shares of the stock traded hands, compared to its average volume of 3,660,814. The firm has a fifty day moving average price of $73.94 and a 200 day moving average price of $64.93. The company has a market cap of $34.69 billion, a price-to-earnings ratio of 15.37 and a beta of 0.69. The company has a current ratio of 1.34, a quick ratio of 0.70 and a debt-to-equity ratio of 0.37. Nutrien has a 1 year low of $46.50 and a 1 year high of $85.36.

Nutrien (NYSE:NTR - Get Free Report) last posted its earnings results on Wednesday, February 18th. The company reported $0.83 EPS for the quarter, missing the consensus estimate of $0.87 by ($0.04). Nutrien had a return on equity of 8.41% and a net margin of 8.43%.The business had revenue of $5.12 billion for the quarter, compared to analysts' expectations of $5.26 billion. During the same quarter in the previous year, the firm earned $0.31 earnings per share. Nutrien's quarterly revenue was up 5.1% compared to the same quarter last year. As a group, equities research analysts predict that Nutrien will post 3.72 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Wellington Management Group LLP lifted its stake in shares of Nutrien by 440.2% in the 4th quarter. Wellington Management Group LLP now owns 16,338,606 shares of the company's stock valued at $1,008,713,000 after acquiring an additional 13,313,817 shares during the last quarter. Norges Bank bought a new position in Nutrien during the 4th quarter worth approximately $412,635,000. Arrowstreet Capital Limited Partnership increased its stake in Nutrien by 19.1% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 14,221,381 shares of the company's stock worth $834,962,000 after purchasing an additional 2,276,651 shares during the period. TD Asset Management Inc lifted its position in Nutrien by 21.2% in the fourth 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 last quarter. Finally, OMERS ADMINISTRATION Corp boosted its stake in shares of Nutrien by 5,891.2% during the fourth quarter. OMERS ADMINISTRATION Corp now owns 1,240,184 shares of the company's stock valued at $76,650,000 after purchasing an additional 1,219,484 shares during the period. 63.10% of the stock is owned by institutional investors.

About Nutrien

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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