Oppenheimer Cuts Nutrien (NYSE:NTR) Price Target to $80.00

Nutrien (NYSE:NTR) had its price target cut by equities researchers at Oppenheimer from $82.00 to $80.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Oppenheimer’s target price points to a potential upside of 16.24% from the company’s current price.

A number of other brokerages have also recently weighed in on NTR. Raymond James Financial upgraded shares of Nutrien from a “market perform” rating to an “outperform” rating and raised their target price for the stock from $74.00 to $90.00 in a report on Tuesday, May 5th. TD Securities reiterated a “buy” rating on shares of Nutrien in a research report on Wednesday, May 6th. Scotia raised Nutrien from a “sector perform” rating to a “sector outperform” rating and set a $80.00 price objective for the company in a research note on Tuesday, June 30th. National Bank Financial set a $76.00 target price on Nutrien and gave the stock an “outperform” rating in a report on Monday, July 13th. Finally, UBS Group decreased their target price on Nutrien from $67.00 to $65.00 and set a “sell” rating on the stock in a report on Monday, May 11th. Fourteen equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $81.89.

Nutrien Price Performance

NYSE NTR traded up $0.33 on Thursday, reaching $68.83. The company’s stock had a trading volume of 322,355 shares, compared to its average volume of 3,226,086. Nutrien has a twelve month low of $53.03 and a twelve month high of $85.36. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.59 and a current ratio of 1.24. The firm’s 50 day moving average is $66.64 and its two-hundred day moving average is $70.01. The stock has a market cap of $32.92 billion, a PE ratio of 14.01, a PEG ratio of 0.65 and a beta of 0.62.

Nutrien (NYSE:NTR) last announced its quarterly earnings data on Wednesday, May 6th. The company reported $0.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.03. Nutrien had a net margin of 8.58% and a return on equity of 8.84%. The company had revenue of $6.05 billion for the quarter, compared to analysts’ expectations of $5.30 billion. During the same quarter in the previous year, the company posted $0.11 EPS. The business’s revenue was up 18.5% compared to the same quarter last year. As a group, sell-side analysts predict that Nutrien will post 5.11 EPS for the current year.

Hedge Funds Weigh In On Nutrien

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. MH & Associates Securities Management Corp ADV acquired a new stake in shares of Nutrien in the fourth quarter worth about $1,967,000. TD Waterhouse Canada Inc. boosted its stake in shares of Nutrien by 4.2% during the 4th quarter. TD Waterhouse Canada Inc. now owns 2,359,022 shares of the company’s stock worth $145,257,000 after acquiring an additional 94,510 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of Nutrien by 2.2% during the 4th quarter. Vanguard Group Inc. now owns 22,463,277 shares of the company’s stock valued at $1,386,546,000 after acquiring an additional 479,834 shares during the last quarter. BCS Private Wealth Management Inc. increased its holdings in shares of Nutrien by 501.5% during the 4th quarter. BCS Private Wealth Management Inc. now owns 65,913 shares of the company’s stock valued at $4,104,000 after acquiring an additional 54,955 shares during the last quarter. Finally, Black Creek Investment Management Inc. raised its stake in shares of Nutrien by 7.9% in the 4th quarter. Black Creek Investment Management Inc. now owns 2,553,108 shares of the company’s stock valued at $157,796,000 after acquiring an additional 185,864 shares in the last quarter. Institutional investors and hedge funds own 63.10% of the company’s stock.

About Nutrien

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.