Nutrien (NYSE:NTR) Given New $81.00 Price Target at Morgan Stanley

Nutrien (NYSE:NTR) had its target price cut by equities researchers at Morgan Stanley from $93.00 to $81.00 in a report released on Tuesday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Morgan Stanley’s price target would indicate a potential upside of 23.38% from the company’s current price.

Several other research firms have also commented on NTR. Berenberg Bank set a $65.00 price target on Nutrien and gave the stock a “hold” rating in a report on Wednesday, June 10th. Wall Street Zen lowered shares of Nutrien from a “buy” rating to a “hold” rating in a report on Saturday, May 16th. Oppenheimer raised their price objective on shares of Nutrien from $80.00 to $82.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 12th. Raymond James Financial raised shares of Nutrien from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from $74.00 to $90.00 in a research note on Tuesday, May 5th. Finally, Jefferies Financial Group upgraded shares of Nutrien from a “hold” rating to a “buy” rating and boosted their target price for the company from $74.00 to $96.00 in a report on Thursday, March 12th. Thirteen analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Nutrien presently has a consensus rating of “Moderate Buy” and a consensus target price of $80.94.

Nutrien Trading Up 1.7%

Nutrien stock traded up $1.11 during trading on Tuesday, reaching $65.65. 289,902 shares of the company were exchanged, compared to its average volume of 3,321,315. Nutrien has a 52-week low of $53.03 and a 52-week high of $85.36. The company has a market capitalization of $31.47 billion, a P/E ratio of 13.38, a PEG ratio of 0.60 and a beta of 0.62. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.24 and a quick ratio of 0.59. The stock’s 50 day simple moving average is $68.12 and its two-hundred day simple moving average is $69.63.

Nutrien (NYSE:NTR) last released its quarterly earnings data on Wednesday, May 6th. The company reported $0.51 earnings per share for the quarter, topping analysts’ consensus estimates of $0.48 by $0.03. The company had revenue of $6.05 billion for the quarter, compared to analyst estimates of $5.30 billion. Nutrien had a return on equity of 8.84% and a net margin of 8.58%.The firm’s revenue for the quarter was up 18.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.11 earnings per share. On average, equities research analysts expect that Nutrien will post 5.45 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Nutrien

A number of hedge funds have recently modified their holdings of NTR. Wellington Management Group LLP increased its position in shares of Nutrien by 440.2% during the 4th quarter. Wellington Management Group LLP now owns 16,338,606 shares of the company’s stock worth $1,008,713,000 after purchasing an additional 13,313,817 shares during the last quarter. Norges Bank acquired a new position in Nutrien in the fourth quarter valued at about $412,635,000. Arrowstreet Capital Limited Partnership boosted its stake in Nutrien by 19.1% during the third quarter. Arrowstreet Capital Limited Partnership now owns 14,221,381 shares of the company’s stock worth $834,962,000 after buying an additional 2,276,651 shares during the period. TD Asset Management Inc boosted its stake in Nutrien by 21.2% during the fourth quarter. TD Asset Management Inc now owns 8,928,534 shares of the company’s stock worth $551,821,000 after buying an additional 1,559,673 shares during the period. Finally, DJE Kapital AG boosted its stake in Nutrien by 1,373.6% during the first quarter. DJE Kapital AG now owns 1,534,869 shares of the company’s stock worth $116,111,000 after buying an additional 1,430,708 shares during the period. 63.10% of the stock is currently owned by hedge funds and other institutional investors.

Nutrien Company Profile

Nutrien Ltd. is a global fertilizer and agricultural-services company headquartered in Saskatoon, Saskatchewan, Canada. The company is publicly traded and operates across the farm input value chain, combining upstream fertilizer production with a broad retail and services platform aimed at supporting crop production worldwide. Nutrien’s business model integrates the manufacture and distribution of crop nutrients with on-the-ground agronomic support for growers and agricultural businesses.

Nutrien produces and supplies the three primary fertilizer nutrients—potash, nitrogen and phosphate—through its wholesale operations, and markets a wide range of crop inputs including seeds and crop protection products.