Nutrien (NYSE:NTR) Upgraded by Piper Sandler to “Overweight” Rating

Nutrien (NYSE:NTR) was upgraded by investment analysts at Piper Sandler from an “underweight” rating to an “overweight” rating in a research note issued on Monday. The firm currently has a $58.00 target price on the stock, up from their prior target price of $50.00. Piper Sandler’s target price would suggest a potential upside of 19.69% from the stock’s previous close.

Several other equities research analysts have also recently commented on NTR. CIBC reaffirmed an “outperformer” rating and set a $55.00 target price (down previously from $60.00) on shares of Nutrien in a research note on Tuesday, December 10th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $60.00 target price on shares of Nutrien in a research note on Friday, September 20th. Oppenheimer initiated coverage on Nutrien in a research note on Thursday, December 12th. They set an “outperform” rating and a $60.00 target price for the company. Raymond James upgraded Nutrien from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $58.00 to $60.00 in a report on Tuesday, December 3rd. Finally, TD Securities cut their price target on Nutrien from $63.00 to $61.00 and set a “buy” rating on the stock in a report on Tuesday, November 12th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $59.21.

Nutrien Trading Up 1.3 %

Shares of NTR stock opened at $48.46 on Monday. The stock has a 50-day moving average of $46.87 and a 200-day moving average of $47.85. Nutrien has a 1-year low of $43.69 and a 1-year high of $60.87. The stock has a market cap of $23.86 billion, a price-to-earnings ratio of 32.52, a PEG ratio of 1.73 and a beta of 0.81. The company has a current ratio of 1.27, a quick ratio of 0.82 and a debt-to-equity ratio of 0.38.

Nutrien (NYSE:NTR) last released its earnings results on Wednesday, November 6th. The company reported $0.39 EPS for the quarter, missing the consensus estimate of $0.43 by ($0.04). Nutrien had a return on equity of 6.99% and a net margin of 2.79%. The business had revenue of $5.35 billion for the quarter, compared to analyst estimates of $5.26 billion. During the same period in the prior year, the business earned $0.35 EPS. The company’s revenue for the quarter was down 5.0% on a year-over-year basis. On average, equities research analysts forecast that Nutrien will post 3.5 earnings per share for the current year.

Institutional Trading of Nutrien

A number of large investors have recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC grew its position in shares of Nutrien by 6.5% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 4,309 shares of the company’s stock valued at $207,000 after purchasing an additional 263 shares in the last quarter. Meixler Investment Management Ltd. grew its position in shares of Nutrien by 4.2% in the third quarter. Meixler Investment Management Ltd. now owns 7,159 shares of the company’s stock valued at $344,000 after purchasing an additional 288 shares in the last quarter. Atria Investments Inc grew its position in shares of Nutrien by 2.0% in the third quarter. Atria Investments Inc now owns 14,636 shares of the company’s stock valued at $703,000 after purchasing an additional 290 shares in the last quarter. Mercer Global Advisors Inc. ADV grew its position in shares of Nutrien by 8.3% in the second quarter. Mercer Global Advisors Inc. ADV now owns 4,660 shares of the company’s stock valued at $237,000 after purchasing an additional 356 shares in the last quarter. Finally, Kingsview Wealth Management LLC grew its position in shares of Nutrien by 3.3% in the third quarter. Kingsview Wealth Management LLC now owns 11,317 shares of the company’s stock valued at $544,000 after purchasing an additional 365 shares in the last quarter. 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.