Nutrien (NYSE:NTR) PT Set at $76.00 by National Bank Financial

Key Points

• National Bank Financial initiated coverage on Nutrien with a $76 price target and an outperform rating, implying about 12.7% upside from the current price.
• Nutrien shares were up 3.1% in Monday trading to $67.44, with the stock trading below both its recent highs and the analyst average target of $81.61.
• The company recently posted better-than-expected Q1 earnings, earning $0.51 per share on $6.05 billion in revenue, while analysts expect full-year EPS of 5.19.

Nutrien (NYSE:NTR - Get Free Report) received a $76.00 target price from National Bank Financial in a note issued to investors on Monday,BayStreet.CA reports. The firm currently has an "outperform" rating on the stock. National Bank Financial's price target would indicate a potential upside of 12.69% from the company's current price.

A number of other equities research analysts have also weighed in on the stock. TD Securities reaffirmed a "buy" rating on shares of Nutrien in a research note on Wednesday, May 6th. UBS Group lowered their price objective on shares of Nutrien from $67.00 to $65.00 and set a "sell" rating for the company in a report on Monday, May 11th. Wall Street Zen cut Nutrien from a "buy" rating to a "hold" rating in a research report on Saturday, May 16th. Raymond James Financial upgraded Nutrien from a "market perform" rating to an "outperform" rating and upped their target price for the stock from $74.00 to $90.00 in a report on Tuesday, May 5th. Finally, Canadian Imperial Bank of Commerce decreased their target price on Nutrien from $90.00 to $88.00 and set an "outperformer" rating for the company in a research report on Thursday, April 30th. Fourteen equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $81.61.

Nutrien Trading Up 3.1%

Shares of Nutrien stock traded up $2.01 during midday trading on Monday, reaching $67.44. 1,062,501 shares of the company's stock traded hands, compared to its average volume of 3,306,595. The stock has a 50 day moving average of $67.39 and a 200-day moving average of $69.74. Nutrien has a 12 month low of $53.03 and a 12 month high of $85.36. The company has a market cap of $32.32 billion, a PE ratio of 13.72, a price-to-earnings-growth ratio of 0.63 and a beta of 0.62. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.59 and a current ratio of 1.24.

Nutrien (NYSE:NTR - Get Free Report) last issued its quarterly earnings data on Wednesday, May 6th. The company reported $0.51 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.48 by $0.03. Nutrien had a net margin of 8.58% and a return on equity of 8.84%. The business had revenue of $6.05 billion for the quarter, compared to the consensus estimate of $5.30 billion. During the same period in the previous year, the firm earned $0.11 EPS. The company's quarterly revenue was up 18.5% compared to the same quarter last year. As a group, equities analysts expect that Nutrien will post 5.19 EPS for the current fiscal year.

Institutional Investors Weigh In On Nutrien

Several hedge funds have recently added to or reduced their stakes in the stock. Montag A & Associates Inc. raised its position in shares of Nutrien by 310.7% in the 4th quarter. Montag A & Associates Inc. now owns 423 shares of the company's stock worth $26,000 after purchasing an additional 320 shares during the last quarter. Evolution Wealth Management Inc. purchased a new stake in Nutrien during the 1st quarter valued at about $32,000. Thurston Springer Miller Herd & Titak Inc. grew its position in Nutrien by 1,014.0% during the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 479 shares of the company's stock valued at $30,000 after purchasing an additional 436 shares during the last quarter. Allied Private Wealth LLC bought a new stake in Nutrien during the 2nd quarter valued at about $33,000. Finally, Sfam LLC bought a new stake in Nutrien during the 4th quarter valued at about $37,000. 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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