Nutrien (NYSE:NTR) Downgraded by Wells Fargo & Company to Equal Weight

Nutrien (NYSE:NTR) was downgraded by Wells Fargo & Company from an “overweight” rating to an “equal weight” rating in a report released on Tuesday, Marketbeat Ratings reports. They presently have a $50.00 target price on the stock, down from their previous target price of $62.00. Wells Fargo & Company‘s target price suggests a potential upside of 5.93% from the company’s previous close.

Other equities analysts have also recently issued research reports about the company. HSBC cut Nutrien from a “hold” rating to a “reduce” rating in a report on Friday, August 2nd. Barclays reduced their price objective on Nutrien from $68.00 to $55.00 and set an “overweight” rating for the company in a research note on Friday, August 16th. The Goldman Sachs Group lowered shares of Nutrien from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $69.00 to $53.00 in a report on Tuesday, September 10th. Scotiabank reduced their target price on shares of Nutrien from $66.00 to $59.00 and set a “sector outperform” rating for the company in a research report on Monday, August 12th. Finally, Mizuho lowered their price target on shares of Nutrien from $55.00 to $52.00 and set a “neutral” rating on the stock in a research report on Thursday, August 8th. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, Nutrien presently has an average rating of “Hold” and a consensus target price of $61.50.

Nutrien Trading Down 1.0 %

Shares of NYSE:NTR opened at $47.20 on Tuesday. The firm has a market capitalization of $23.36 billion, a price-to-earnings ratio of 27.60, a price-to-earnings-growth ratio of 1.55 and a beta of 0.82. The business’s 50 day moving average price is $47.88 and its 200-day moving average price is $51.78. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.26 and a quick ratio of 0.82. Nutrien has a 1 year low of $44.65 and a 1 year high of $63.60.

Nutrien (NYSE:NTR) last announced its earnings results on Wednesday, August 7th. The company reported $2.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.19 by $0.15. The business had revenue of $10.16 billion for the quarter, compared to analyst estimates of $10.82 billion. Nutrien had a net margin of 2.97% and a return on equity of 6.91%. The company’s revenue for the quarter was down 12.9% compared to the same quarter last year. During the same quarter last year, the business earned $2.53 earnings per share. On average, equities research analysts forecast that Nutrien will post 3.83 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Nutrien

Several hedge funds and other institutional investors have recently added to or reduced their stakes in NTR. Manning & Napier Advisors LLC acquired a new stake in shares of Nutrien during the 2nd quarter worth about $2,639,000. Vanguard Group Inc. boosted its stake in Nutrien by 0.9% during the fourth quarter. Vanguard Group Inc. now owns 18,210,375 shares of the company’s stock worth $1,025,790,000 after buying an additional 158,161 shares during the period. SG Americas Securities LLC increased its position in shares of Nutrien by 370.1% during the first quarter. SG Americas Securities LLC now owns 58,041 shares of the company’s stock valued at $3,152,000 after acquiring an additional 45,695 shares during the last quarter. BNP Paribas purchased a new stake in shares of Nutrien in the 1st quarter valued at approximately $1,146,000. Finally, Wellington Management Group LLP lifted its holdings in shares of Nutrien by 54.3% in the 4th quarter. Wellington Management Group LLP now owns 841,144 shares of the company’s stock worth $47,620,000 after acquiring an additional 296,122 shares during the last quarter. Institutional investors and hedge funds 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.