Nutrien (NYSE:NTR) Price Target Increased to $68.00 by Analysts at Wells Fargo & Company

Nutrien (NYSE:NTR - Get Free Report) had its price objective raised by stock analysts at Wells Fargo & Company from $67.00 to $68.00 in a research note issued on Friday, Benzinga reports. The firm currently has an "overweight" rating on the stock. Wells Fargo & Company's price target points to a potential upside of 16.94% from the company's previous close.

Several other analysts have also recently weighed in on NTR. Raymond James cut Nutrien from an "outperform" rating to a "market perform" rating and dropped their price objective for the stock from $80.00 to $65.00 in a report on Friday, January 12th. Mizuho raised their price objective on shares of Nutrien from $54.00 to $59.00 and gave the company a "neutral" rating in a research note on Thursday. JPMorgan Chase & Co. cut shares of Nutrien from a "neutral" rating to an "underweight" rating and dropped their target price for the company from $58.00 to $48.00 in a research report on Friday, February 23rd. Royal Bank of Canada reduced their price objective on shares of Nutrien from $75.00 to $70.00 and set an "outperform" rating on the stock in a research note on Friday, February 23rd. Finally, Wolfe Research assumed coverage on Nutrien in a research note on Friday, March 1st. They set an "outperform" rating and a $66.00 price objective on the stock. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and twelve have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $67.45.

Nutrien Price Performance

NYSE:NTR traded down $0.02 on Friday, reaching $58.15. The stock had a trading volume of 2,178,021 shares, compared to its average volume of 1,975,464. The company has a market capitalization of $28.76 billion, a P/E ratio of 23.13, a price-to-earnings-growth ratio of 1.98 and a beta of 0.88. The stock has a fifty day moving average price of $53.56 and a 200-day moving average price of $53.67. The company has a quick ratio of 0.65, a current ratio of 1.17 and a debt-to-equity ratio of 0.35. Nutrien has a 1-year low of $47.90 and a 1-year high of $69.12.

Nutrien (NYSE:NTR - Get Free Report) last released its quarterly earnings results on Wednesday, February 21st. The company reported $0.37 EPS for the quarter, missing the consensus estimate of $0.72 by ($0.35). Nutrien had a net margin of 4.33% and a return on equity of 8.59%. The company had revenue of $5.66 billion for the quarter, compared to the consensus estimate of $5.36 billion. During the same period last year, the company earned $2.02 earnings per share. Nutrien's revenue for the quarter was down 24.8% compared to the same quarter last year. Research analysts forecast that Nutrien will post 3.82 EPS for the current year.

Institutional Trading of Nutrien

Several institutional investors have recently added to or reduced their stakes in NTR. Townsend & Associates Inc lifted its holdings in shares of Nutrien by 27.8% in the third quarter. Townsend & Associates Inc now owns 163,942 shares of the company's stock worth $10,125,000 after acquiring an additional 35,690 shares during the last quarter. CIBC Asset Management Inc boosted its holdings in shares of Nutrien by 2.5% during the 3rd quarter. CIBC Asset Management Inc now owns 6,361,084 shares of the company's stock valued at $394,047,000 after acquiring an additional 154,159 shares in the last quarter. Canoe Financial LP grew its position in Nutrien by 64.6% during the 3rd quarter. Canoe Financial LP now owns 75,945 shares of the company's stock worth $4,690,000 after acquiring an additional 29,819 shares during the last quarter. International Assets Investment Management LLC acquired a new position in Nutrien in the 4th quarter worth about $3,433,000. Finally, First Eagle Investment Management LLC boosted its stake in shares of Nutrien by 0.5% during the third quarter. First Eagle Investment Management LLC now owns 9,262,659 shares of the company's stock valued at $572,062,000 after purchasing an additional 48,230 shares in 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.