Royal Bank of Canada Forecasts Strong Price Appreciation for Nutrien (NYSE:NTR) Stock

Nutrien (NYSE:NTR - Get Free Report) had its price objective lifted by analysts at Royal Bank of Canada from $60.00 to $65.00 in a note issued to investors on Monday,Benzinga reports. The firm currently has an "outperform" rating on the stock. Royal Bank of Canada's price target indicates a potential upside of 16.69% from the company's current price.

NTR has been the subject of a number of other reports. UBS Group upped their price target on shares of Nutrien from $52.00 to $56.00 and gave the company a "neutral" rating in a report on Thursday. Oppenheimer cut their price objective on Nutrien from $60.00 to $58.00 and set an "outperform" rating on the stock in a report on Tuesday, April 22nd. CIBC boosted their price objective on Nutrien from $64.00 to $66.00 and gave the stock an "outperformer" rating in a report on Tuesday, February 25th. Berenberg Bank upped their target price on Nutrien from $54.00 to $59.00 and gave the company a "buy" rating in a report on Tuesday, April 15th. Finally, Mizuho increased their price objective on Nutrien from $52.00 to $55.00 and gave the stock a "neutral" rating in a report on Thursday, February 20th. Two 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 given a strong buy rating to the stock. Based on data from MarketBeat, Nutrien presently has an average rating of "Moderate Buy" and an average price target of $60.27.

Nutrien Stock Performance

Shares of Nutrien stock traded up $0.08 during trading on Monday, hitting $55.71. 934,099 shares of the stock were exchanged, compared to its average volume of 2,442,075. The stock has a market cap of $27.20 billion, a PE ratio of 40.66, a P/E/G ratio of 1.19 and a beta of 0.79. The stock's fifty day moving average is $51.97 and its 200 day moving average is $49.98. Nutrien has a 12 month low of $43.69 and a 12 month high of $60.87. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.82 and a current ratio of 1.27.

Nutrien (NYSE:NTR - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The company reported $0.11 earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.24). The company had revenue of $4.67 billion during the quarter, compared to analyst estimates of $5.16 billion. Nutrien had a return on equity of 6.81% and a net margin of 2.62%. The business's revenue for the quarter was down 5.4% compared to the same quarter last year. During the same period in the previous year, the company earned $0.46 EPS. As a group, sell-side analysts anticipate that Nutrien will post 3.72 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Norges Bank acquired a new stake in shares of Nutrien in the fourth quarter valued at $241,958,000. Arrowstreet Capital Limited Partnership increased its stake in shares of Nutrien by 159.5% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 5,435,627 shares of the company's stock valued at $242,976,000 after buying an additional 3,341,169 shares in the last quarter. JPMorgan Chase & Co. increased its stake in shares of Nutrien by 48.7% in the first quarter. JPMorgan Chase & Co. now owns 6,992,535 shares of the company's stock valued at $347,319,000 after buying an additional 2,291,518 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Nutrien by 7.1% in the first quarter. Vanguard Group Inc. now owns 21,191,003 shares of the company's stock valued at $1,051,709,000 after buying an additional 1,412,503 shares in the last quarter. Finally, ARGA Investment Management LP boosted its holdings in Nutrien by 25.7% in the fourth quarter. ARGA Investment Management LP now owns 6,043,590 shares of the company's stock valued at $270,396,000 after acquiring an additional 1,236,671 shares during the last quarter. 63.10% of the stock is currently owned by institutional investors and hedge funds.

Nutrien Company Profile

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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