Nutrien (NYSE:NTR) Downgraded to Neutral at The Goldman Sachs Group

Nutrien (NYSE:NTR) was downgraded by stock analysts at The Goldman Sachs Group from a “buy” rating to a “neutral” rating in a note issued to investors on Tuesday, Marketbeat.com reports. They currently have a $53.00 price objective on the stock, down from their previous price objective of $69.00. The Goldman Sachs Group’s target price suggests a potential upside of 14.99% from the stock’s previous close.

Other analysts also recently issued reports about the stock. BMO Capital Markets dropped their price objective on shares of Nutrien from $80.00 to $75.00 and set an “outperform” rating for the company in a report on Friday, August 9th. Hsbc Global Res lowered Nutrien from a “hold” rating to a “moderate sell” rating in a research note on Friday, August 2nd. Barclays reduced their price objective on Nutrien from $68.00 to $55.00 and set an “overweight” rating on the stock in a research report on Friday, August 16th. Mizuho dropped their target price on Nutrien from $55.00 to $52.00 and set a “neutral” rating for the company in a research report on Thursday, August 8th. Finally, TD Securities reduced their price target on shares of Nutrien from $69.00 to $67.00 and set a “buy” rating on the stock in a research report on Thursday, August 1st. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Nutrien currently has a consensus rating of “Hold” and a consensus target price of $62.39.

Nutrien Price Performance

Shares of NYSE NTR opened at $46.09 on Tuesday. The stock’s 50-day simple moving average is $48.56 and its two-hundred day simple moving average is $52.23. Nutrien has a twelve month low of $44.90 and a twelve month high of $65.00. The firm has a market capitalization of $22.80 billion, a P/E ratio of 26.95, a P/E/G ratio of 1.54 and a beta of 0.82. The company has a quick ratio of 0.82, a current ratio of 1.26 and a debt-to-equity ratio of 0.37.

Nutrien (NYSE:NTR) last posted its quarterly earnings data on Wednesday, August 7th. The company reported $2.34 earnings per share for the quarter, topping the consensus estimate of $2.19 by $0.15. Nutrien had a net margin of 2.97% and a return on equity of 6.91%. The company had revenue of $10.16 billion for the quarter, compared to analysts’ expectations of $10.82 billion. During the same period in the prior year, the business earned $2.53 earnings per share. Nutrien’s revenue for the quarter was down 12.9% compared to the same quarter last year. As a group, equities analysts anticipate that Nutrien will post 3.77 EPS for the current fiscal year.

Institutional Investors Weigh In On Nutrien

A number of large investors have recently made changes to their positions in the business. Manning & Napier Advisors LLC bought a new stake in shares of Nutrien during the 2nd quarter valued at about $2,639,000. Vanguard Group Inc. grew its holdings in shares of Nutrien by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 18,210,375 shares of the company’s stock worth $1,025,790,000 after acquiring an additional 158,161 shares during the period. SG Americas Securities LLC raised its position in shares of Nutrien by 370.1% in the 1st quarter. SG Americas Securities LLC now owns 58,041 shares of the company’s stock worth $3,152,000 after acquiring an additional 45,695 shares in the last quarter. BNP Paribas bought a new position in shares of Nutrien in the 1st quarter worth approximately $1,146,000. Finally, Wellington Management Group LLP boosted its position in shares of Nutrien by 54.3% during the fourth quarter. Wellington Management Group LLP now owns 841,144 shares of the company’s stock valued at $47,620,000 after purchasing an additional 296,122 shares in the last quarter. 63.10% of the stock is currently owned by 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.