Agrium Inc. (NYSE:AGU) Receives Buy Rating from Cowen Inc

Cowen Inc reaffirmed their buy rating on shares of Agrium Inc. (NYSE:AGU) (TSE:AGU) in a research report sent to investors on Sunday, November 5th. They currently have a $109.00 price target on the basic materials company’s stock.

AGU has been the subject of several other research reports. Stifel Nicolaus reiterated a buy rating and set a $116.00 price target (up previously from $107.00) on shares of Agrium in a research note on Friday, August 11th. TD Securities upped their price target on Agrium from $99.00 to $102.00 and gave the stock a hold rating in a research note on Thursday, August 10th. Royal Bank Of Canada set a $110.00 price objective on Agrium and gave the stock a buy rating in a research report on Thursday, August 3rd. initiated coverage on Agrium in a research report on Wednesday, October 11th. They set a buy rating and a $126.50 price objective for the company. Finally, Zacks Investment Research cut Agrium from a hold rating to a sell rating in a research report on Wednesday, October 11th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and nine have issued a buy rating to the stock. The stock currently has a consensus rating of Buy and a consensus target price of $112.79.

Agrium (NYSE:AGU) traded down $0.01 during trading hours on Friday, reaching $108.72. The company had a trading volume of 125,502 shares, compared to its average volume of 412,554. The firm has a market capitalization of $15,022.61, a price-to-earnings ratio of 25.11, a price-to-earnings-growth ratio of 2.65 and a beta of 0.65. Agrium has a 52-week low of $87.82 and a 52-week high of $111.88. The company has a quick ratio of 0.78, a current ratio of 1.29 and a debt-to-equity ratio of 0.70.

Agrium (NYSE:AGU) (TSE:AGU) last issued its earnings results on Tuesday, November 7th. The basic materials company reported ($0.23) EPS for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.22). Agrium had a net margin of 2.64% and a return on equity of 9.62%. The firm had revenue of $2.38 billion during the quarter, compared to analysts’ expectations of $2.29 billion. During the same quarter last year, the firm earned ($0.12) EPS. The business’s revenue for the quarter was up 8.7% compared to the same quarter last year. sell-side analysts anticipate that Agrium will post 4.57 earnings per share for the current year.

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Institutional investors and hedge funds have recently made changes to their positions in the business. Geode Capital Management LLC boosted its position in shares of Agrium by 6.2% in the 1st quarter. Geode Capital Management LLC now owns 67,071 shares of the basic materials company’s stock worth $6,365,000 after purchasing an additional 3,941 shares during the last quarter. AQR Capital Management LLC boosted its position in shares of Agrium by 10.1% in the 1st quarter. AQR Capital Management LLC now owns 83,458 shares of the basic materials company’s stock worth $7,942,000 after purchasing an additional 7,637 shares during the last quarter. HighTower Advisors LLC boosted its position in shares of Agrium by 9.5% in the 1st quarter. HighTower Advisors LLC now owns 2,988 shares of the basic materials company’s stock worth $286,000 after purchasing an additional 260 shares during the last quarter. Skandinaviska Enskilda Banken AB publ bought a new position in shares of Agrium in the 1st quarter worth $1,108,000. Finally, Virtu Financial LLC acquired a new stake in Agrium during the 2nd quarter worth $510,000. Hedge funds and other institutional investors own 68.05% of the company’s stock.

About Agrium

Agrium Inc is a retailer of agricultural products and services in the United States, Canada, Australia, Argentina, Brazil, Chile and Uruguay and a multi-national producer and wholesale marketer of nutrients for agricultural and industrial markets. The Company’s segments include Retail and Wholesale. As of December 31, 2016, its Retail business unit marketed crop nutrients, crop protection products, seed, merchandise, application and other agronomic services through 1,500 retail locations in the United States, Canada, Australia, Argentina, Brazil, Chile and Uruguay.

Analyst Recommendations for Agrium (NYSE:AGU)

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