Nutrien (NYSE:NTR) Given New $58.00 Price Target at Oppenheimer

Nutrien (NYSE:NTR - Get Free Report) had its target price dropped by equities researchers at Oppenheimer from $60.00 to $58.00 in a report released on Tuesday,Benzinga reports. The brokerage currently has an "outperform" rating on the stock. Oppenheimer's price target would indicate a potential upside of 7.38% from the stock's current price.

NTR has been the subject of several other reports. Wells Fargo & Company raised their target price on shares of Nutrien from $53.00 to $56.00 and gave the company an "equal weight" rating in a report on Friday, February 21st. JPMorgan Chase & Co. upgraded Nutrien from an "underweight" rating to a "neutral" rating and lifted their price objective for the stock from $40.00 to $50.00 in a research report on Monday, January 13th. The Goldman Sachs Group started coverage on Nutrien in a report on Thursday, March 13th. They set a "sell" rating and a $53.00 target price on the stock. Royal Bank of Canada restated an "outperform" rating and issued a $60.00 price objective on shares of Nutrien in a research report on Monday, February 24th. Finally, CIBC lifted their price objective on Nutrien from $64.00 to $66.00 and gave the stock an "outperformer" rating in a research report on Tuesday, February 25th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, Nutrien presently has an average rating of "Moderate Buy" and an average target price of $59.27.

Nutrien Price Performance

Shares of Nutrien stock traded up $0.34 during trading on Tuesday, reaching $54.02. The company's stock had a trading volume of 1,708,989 shares, compared to its average volume of 2,098,238. The business has a 50 day moving average price of $51.12 and a 200-day moving average price of $49.40. Nutrien has a 12-month low of $43.70 and a 12-month high of $60.87. The company has a market capitalization of $26.40 billion, a P/E ratio of 39.43, a price-to-earnings-growth ratio of 1.19 and a beta of 0.77. The company has a quick ratio of 0.82, a current ratio of 1.27 and a debt-to-equity ratio of 0.38.

Nutrien (NYSE:NTR - Get Free Report) last posted its quarterly earnings results on Wednesday, February 19th. The company reported $0.28 earnings per share for the quarter, missing analysts' consensus estimates of $0.37 by ($0.09). Nutrien had a return on equity of 6.81% and a net margin of 2.62%. The company had revenue of $5.08 billion for the quarter, compared to analyst estimates of $5.09 billion. As a group, sell-side analysts anticipate that Nutrien will post 3.72 EPS for the current year.

Institutional Investors Weigh In On Nutrien

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Covea Finance grew its position in shares of Nutrien by 21.9% during the fourth quarter. Covea Finance now owns 55,600 shares of the company's stock worth $2,485,000 after buying an additional 10,000 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Nutrien by 8.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,886,376 shares of the company's stock worth $84,367,000 after purchasing an additional 144,025 shares during the last quarter. Van ECK Associates Corp raised its stake in shares of Nutrien by 5.7% in the 4th quarter. Van ECK Associates Corp now owns 1,480,870 shares of the company's stock valued at $66,264,000 after purchasing an additional 80,382 shares in the last quarter. Secured Retirement Advisors LLC bought a new position in shares of Nutrien during the fourth quarter worth about $654,000. Finally, Abel Hall LLC acquired a new position in Nutrien in the fourth quarter worth about $276,000. Hedge funds and other institutional investors 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.