Share on StockTwits

Canaccord Genuity cut their price target on shares of Agrium (NYSE:AGU) from $106.00 to $104.00 in a research note issued on Friday. Canaccord Genuity’s price objective indicates a potential upside of 15.01% from the company’s current price.

Shares of Agrium (NYSE:AGU) opened at 90.43 on Friday. Agrium has a one year low of $81.60 and a one year high of $97.97. The stock’s 50-day moving average is $91.36 and its 200-day moving average is $91.95. The company has a market cap of $13.022 billion and a P/E ratio of 14.64. Agrium also was the recipient of a significant increase in short interest during the month of July. As of July 15th, there was short interest totalling 2,652,550 shares, an increase of 98.9% from the June 30th total of 1,333,933 shares. Currently, 1.9% of the company’s stock are short sold. Based on an average daily volume of 613,188 shares, the days-to-cover ratio is presently 4.3 days.

Agrium (NYSE:AGU) last issued its quarterly earnings data on Wednesday, August 6th. The company reported $4.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.12 by $0.25. The company had revenue of $7.34 billion for the quarter, compared to the consensus estimate of $7.17 billion. During the same quarter in the previous year, the company posted $4.94 earnings per share. The company’s revenue for the quarter was up 6.2% on a year-over-year basis. Analysts expect that Agrium will post $6.27 EPS for the current fiscal year.

Other equities research analysts have also recently issued reports about the stock. Analysts at Scotiabank reiterated a “sector outperform” rating on shares of Agrium in a research note on Tuesday, June 10th. Separately, analysts at Standpoint Research initiated coverage on shares of Agrium in a research note on Friday, May 30th. They set an “accumulate” rating and a $115.00 price target on the stock. Finally, analysts at Susquehanna cut their price target on shares of Agrium from $115.00 to $112.00 in a research note on Monday, May 12th. They now have a “positive” rating on the stock. Nine analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $102.42.

Agrium Inc (NYSE:AGU) is a global producer and marketer of nutrients for agricultural and industrial markets.

Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.