Agrium Inc. (AGU) Price Target Raised to $115.00 at Royal Bank Of Canada
Agrium Inc. (NYSE:AGU) (TSE:AGU) had its target price lifted by Royal Bank Of Canada from $110.00 to $115.00 in a research report issued on Friday. The brokerage presently has an “outperform” rating on the basic materials company’s stock. Royal Bank Of Canada’s target price points to a potential upside of 11.70% from the company’s previous close.
A number of other research analysts have also issued reports on AGU. Stifel Nicolaus reiterated a “buy” rating and issued a $116.00 price objective (up previously from $107.00) on shares of Agrium in a report on Friday, August 11th. TD Securities raised their price objective on shares of Agrium from $99.00 to $102.00 and gave the company a “hold” rating in a report on Thursday, August 10th. OTR Global upgraded shares of Agrium to a “neutral” rating in a report on Tuesday. Cowen and Company set a $99.00 price objective on shares of Agrium and gave the company a “buy” rating in a report on Friday, July 28th. Finally, Zacks Investment Research lowered shares of Agrium from a “hold” rating to a “sell” rating in a report on Tuesday, July 4th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and eight have assigned a buy rating to the stock. Agrium has a consensus rating of “Hold” and a consensus price target of $106.36.
Shares of Agrium (NYSE AGU) traded up 1.65% during trading on Friday, hitting $104.69. 331,214 shares of the company’s stock were exchanged. The stock’s 50-day moving average price is $98.86 and its 200-day moving average price is $95.14. The stock has a market cap of $14.47 billion, a PE ratio of 25.26 and a beta of 0.62. Agrium has a 1-year low of $87.78 and a 1-year high of $111.88.
A number of large investors have recently added to or reduced their stakes in the business. Archford Capital Strategies LLC increased its position in Agrium by 7,579.7% during the 2nd quarter. Archford Capital Strategies LLC now owns 12,134 shares of the basic materials company’s stock valued at $1,450,000 after purchasing an additional 11,976 shares during the period. Afam Capital Inc. grew its position in shares of Agrium by 0.7% during the 2nd quarter. Afam Capital Inc. now owns 17,981 shares of the basic materials company’s stock worth $1,627,000 after buying an additional 119 shares during the period. Verition Fund Management LLC acquired a new stake in shares of Agrium during the 2nd quarter worth approximately $1,003,000. Scotia Capital Inc. grew its position in shares of Agrium by 10.5% during the 2nd quarter. Scotia Capital Inc. now owns 383,158 shares of the basic materials company’s stock worth $34,640,000 after buying an additional 36,550 shares during the period. Finally, Bank of Nova Scotia grew its position in shares of Agrium by 10.7% during the 2nd quarter. Bank of Nova Scotia now owns 762,339 shares of the basic materials company’s stock worth $69,101,000 after buying an additional 73,748 shares during the period. 66.42% of the stock is owned by institutional investors and hedge funds.
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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