Scotiabank Reiterates "Sector Perform" Rating for Nutrien (NYSE:NTR)

Key Points

• Scotiabank has reduced its price target for Nutrien from $62.00 to $60.00, maintaining a "sector perform" rating, indicating a potential upside of 7.48% from the last close.
• Other analysts have varied views: Oppenheimer raised its target to $65.00 with an "outperform" rating, while Raymond James downgraded from "outperform" to "market perform" with a target of $68.00.
• Nutrien's recent earnings report showed an EPS of $2.65, surpassing estimates, and revenues of $10.30 billion, reflecting a 2.8% increase compared to the same quarter the previous year.

Nutrien (NYSE:NTR - Get Free Report)'s stock had its "sector perform" rating reissued by research analysts at Scotiabank in a report issued on Monday, Marketbeat.com reports. They currently have a $60.00 target price on the stock, down from their prior target price of $62.00. Scotiabank's target price would suggest a potential upside of 7.02% from the company's previous close.

A number of other research firms have also commented on NTR. TD Securities upped their price target on Nutrien from $67.00 to $70.00 and gave the company a "buy" rating in a research report on Friday, August 1st. Oppenheimer upped their price target on Nutrien from $63.00 to $65.00 and gave the company an "outperform" rating in a research report on Tuesday, July 15th. UBS Group cut their target price on Nutrien from $64.00 to $63.00 and set a "neutral" rating on the stock in a research report on Thursday, August 7th. Royal Bank Of Canada restated an "outperform" rating on shares of Nutrien in a research report on Monday, July 14th. Finally, The Goldman Sachs Group upped their target price on Nutrien from $53.00 to $59.00 and gave the company a "sell" rating in a research report on Friday, May 9th. One analyst has rated the stock with a sell rating, nine have issued a hold rating, six have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, Nutrien has a consensus rating of "Moderate Buy" and an average price target of $62.65.

Nutrien Price Performance

NTR traded down $0.25 on Monday, reaching $56.06. The stock had a trading volume of 2,678,130 shares, compared to its average volume of 2,293,564. Nutrien has a fifty-two week low of $43.69 and a fifty-two week high of $65.08. The firm has a 50-day moving average of $59.83 and a 200-day moving average of $55.42. The company has a current ratio of 1.33, a quick ratio of 0.85 and a debt-to-equity ratio of 0.39. The company has a market capitalization of $27.30 billion, a price-to-earnings ratio of 20.09, a price-to-earnings-growth ratio of 1.02 and a beta of 0.81.

Nutrien (NYSE:NTR - Get Free Report) last issued its earnings results on Wednesday, August 6th. The company reported $2.65 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.41 by $0.24. Nutrien had a return on equity of 6.51% and a net margin of 5.25%. The business had revenue of $10.30 billion during the quarter, compared to analysts' expectations of $10.40 billion. During the same quarter in the prior year, the firm earned $2.34 EPS. The business's revenue for the quarter was up 2.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that Nutrien will post 3.72 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Harbour Investments Inc. lifted its holdings in shares of Nutrien by 94.8% in the first quarter. Harbour Investments Inc. now owns 715 shares of the company's stock valued at $35,000 after purchasing an additional 348 shares in the last quarter. Huntington National Bank lifted its holdings in shares of Nutrien by 72.6% in the second quarter. Huntington National Bank now owns 656 shares of the company's stock valued at $38,000 after purchasing an additional 276 shares in the last quarter. Trust Co. of Toledo NA OH bought a new position in shares of Nutrien in the second quarter valued at approximately $49,000. Allworth Financial LP increased its position in shares of Nutrien by 117.1% during the first quarter. Allworth Financial LP now owns 938 shares of the company's stock valued at $50,000 after acquiring an additional 506 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd increased its position in shares of Nutrien by 1,074.7% during the first quarter. Caitong International Asset Management Co. Ltd now owns 1,022 shares of the company's stock valued at $51,000 after acquiring an additional 935 shares during the last quarter. 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.