Agrium Inc. (AGU) Given Buy Rating at Royal Bank Of Canada
Agrium Inc. (NYSE:AGU) (TSE:AGU)‘s stock had its “buy” rating reissued by equities research analysts at Royal Bank Of Canada in a research report issued on Thursday. They presently have a $110.00 price objective on the basic materials company’s stock. Royal Bank Of Canada’s target price points to a potential upside of 20.55% from the company’s previous close.
A number of other research firms also recently issued reports on AGU. Vertical Research raised shares of Agrium from a “hold” rating to a “buy” rating in a research note on Friday, May 19th. BMO Capital Markets restated a “hold” rating and set a $100.00 price objective on shares of Agrium in a research report on Wednesday, April 5th. Credit Suisse Group reiterated a “hold” rating and issued a $91.00 target price on shares of Agrium in a report on Friday, April 21st. TD Securities set a $99.00 target price on Agrium and gave the company a “hold” rating in a research report on Wednesday, May 3rd. Finally, Citigroup Inc. lowered their price target on Agrium from $104.00 to $100.00 and set a “neutral” rating for the company in a research report on Tuesday, May 9th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and seven have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $103.92.
Shares of Agrium (AGU) traded down 0.21% during mid-day trading on Thursday, hitting $91.06. The stock had a trading volume of 227,443 shares. Agrium has a 12 month low of $87.62 and a 12 month high of $111.88. The company has a market cap of $12.58 billion, a PE ratio of 21.70 and a beta of 0.67. The stock’s 50-day moving average is $92.02 and its 200 day moving average is $97.60.
The business also recently announced a quarterly dividend, which will be paid on Thursday, July 20th. Stockholders of record on Friday, June 30th will be given a dividend of $0.875 per share. This represents a $3.50 dividend on an annualized basis and a dividend yield of 3.84%. The ex-dividend date of this dividend is Wednesday, June 28th. Agrium’s dividend payout ratio (DPR) is presently 83.14%.
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Several hedge funds have recently bought and sold shares of AGU. Beutel Goodman & Co Ltd. raised its stake in shares of Agrium by 4.7% in the first quarter. Beutel Goodman & Co Ltd. now owns 4,495,128 shares of the basic materials company’s stock worth $428,284,000 after buying an additional 200,460 shares during the last quarter. Capstone Asset Management Co. boosted its position in shares of Agrium by 14.1% in the first quarter. Capstone Asset Management Co. now owns 13,181 shares of the basic materials company’s stock valued at $1,259,000 after buying an additional 1,630 shares during the period. Bank of Montreal Can boosted its position in shares of Agrium by 24.5% in the first quarter. Bank of Montreal Can now owns 4,019,852 shares of the basic materials company’s stock valued at $384,097,000 after buying an additional 791,000 shares during the period. Gulf International Bank UK Ltd boosted its position in shares of Agrium by 1.4% in the first quarter. Gulf International Bank UK Ltd now owns 41,408 shares of the basic materials company’s stock valued at $3,946,000 after buying an additional 580 shares during the period. Finally, Creative Planning boosted its position in shares of Agrium by 6.1% in the first quarter. Creative Planning now owns 2,746 shares of the basic materials company’s stock valued at $262,000 after buying an additional 159 shares during the period. 69.53% of the stock is owned by hedge funds and other institutional investors.
Agrium Company Profile
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.
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