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

Nutrien (NYSE:NTR - Get Free Report)'s stock had its "sector perform" rating reaffirmed by equities research analysts at Scotiabank in a note issued to investors on Wednesday, Marketbeat Ratings reports. They currently have a $62.00 price objective on the stock. Scotiabank's target price suggests a potential upside of 7.04% from the company's previous close.

A number of other equities research analysts also recently issued reports on NTR. TD Securities lifted their price target on shares of Nutrien from $64.00 to $67.00 and gave the company a "buy" rating in a research report on Monday. Mizuho lifted their price target on shares of Nutrien from $52.00 to $55.00 and gave the company a "neutral" rating in a research report on Thursday, February 20th. The Goldman Sachs Group lifted their price target on shares of Nutrien from $53.00 to $59.00 and gave the company a "sell" rating in a research report on Friday, May 9th. UBS Group lifted their price objective on Nutrien from $52.00 to $56.00 and gave the stock a "neutral" rating in a research report on Thursday, May 8th. Finally, Piper Sandler lifted their price objective on Nutrien from $58.00 to $63.00 and gave the stock an "overweight" rating in a research report on Monday, January 27th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Nutrien has a consensus rating of "Hold" and an average price target of $61.44.

Nutrien Price Performance

Shares of NTR stock traded up $0.46 during midday trading on Wednesday, reaching $57.92. 1,752,913 shares of the company traded hands, compared to its average volume of 2,137,646. The firm's 50 day simple moving average is $52.62 and its two-hundred day simple moving average is $50.27. Nutrien has a 1-year low of $43.70 and a 1-year high of $60.87. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.27 and a quick ratio of 0.82. The firm has a market cap of $28.28 billion, a PE ratio of 42.28, a price-to-earnings-growth ratio of 1.19 and a beta of 0.79.

Nutrien (NYSE:NTR - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The company reported $0.11 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.35 by ($0.24). Nutrien had a net margin of 2.62% and a return on equity of 6.81%. The company had revenue of $4.67 billion for the quarter, compared to analyst estimates of $5.16 billion. During the same quarter in the previous year, the business posted $0.46 earnings per share. Nutrien's revenue was down 5.4% on a year-over-year basis. On average, equities research analysts expect that Nutrien will post 3.72 EPS for the current fiscal year.

Institutional Trading of Nutrien

Several institutional investors have recently made changes to their positions in NTR. Fairway Wealth LLC purchased a new stake in shares of Nutrien during the 4th quarter valued at $27,000. HHM Wealth Advisors LLC grew its stake in shares of Nutrien by 331.0% during the 4th quarter. HHM Wealth Advisors LLC now owns 625 shares of the company's stock valued at $28,000 after buying an additional 480 shares during the period. Assetmark Inc. grew its stake in shares of Nutrien by 1,437.5% during the 4th quarter. Assetmark Inc. now owns 738 shares of the company's stock valued at $33,000 after buying an additional 690 shares during the period. Asset Planning Inc purchased a new stake in shares of Nutrien during the 4th quarter valued at $35,000. Finally, Harbour Investments Inc. grew its stake in shares of Nutrien by 94.8% during the 1st quarter. Harbour Investments Inc. now owns 715 shares of the company's stock valued at $35,000 after buying an additional 348 shares during the period. 63.10% of the stock is owned by hedge funds and other institutional investors.

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.