Agrium Inc. (AGU) Given Consensus Recommendation of “Hold” by Brokerages
Agrium Inc. (NYSE:AGU) (TSE:AGU) has received a consensus rating of “Hold” from the seventeen analysts that are covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, eight have assigned a hold recommendation and eight have given a buy recommendation to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $106.36.
A number of research firms have weighed in on AGU. TD Securities boosted their target price on shares of Agrium from $99.00 to $102.00 and gave the stock a “hold” rating in a report on Thursday, August 10th. OTR Global raised shares of Agrium to a “neutral” rating in a report on Tuesday. Stifel Nicolaus reissued a “buy” rating and set a $116.00 target price (up from $107.00) on shares of Agrium in a report on Friday, August 11th. Royal Bank Of Canada boosted their target price on shares of Agrium from $110.00 to $115.00 and gave the stock an “outperform” rating in a report on Friday. Finally, Cowen and Company set a $99.00 target price on shares of Agrium and gave the stock a “buy” rating in a report on Friday, July 28th.
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Shares of Agrium (NYSE:AGU) traded up 2.07% during trading on Friday, reaching $105.12. 464,894 shares of the company’s stock were exchanged. Agrium has a 52-week low of $87.78 and a 52-week high of $111.88. The stock has a market cap of $14.53 billion, a PE ratio of 25.36 and a beta of 0.62. The stock’s 50 day moving average price is $99.03 and its 200-day moving average price is $95.19.
The business also recently announced a quarterly dividend, which will be paid on Thursday, October 19th. Investors of record on Friday, September 29th will be paid a dividend of $0.875 per share. This represents a $3.50 annualized dividend and a yield of 3.33%. The ex-dividend date is Thursday, September 28th. Agrium’s dividend payout ratio is presently 84.34%.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Archford Capital Strategies LLC boosted its stake in Agrium by 7,579.7% during the second quarter. Archford Capital Strategies LLC now owns 12,134 shares of the basic materials company’s stock worth $1,450,000 after acquiring an additional 11,976 shares in the last quarter. Afam Capital Inc. boosted its stake in Agrium by 0.7% during the second quarter. Afam Capital Inc. now owns 17,981 shares of the basic materials company’s stock worth $1,627,000 after acquiring an additional 119 shares in the last quarter. Verition Fund Management LLC bought a new position in Agrium during the second quarter worth $1,003,000. Scotia Capital Inc. boosted its stake in Agrium by 10.5% during the second quarter. Scotia Capital Inc. now owns 383,158 shares of the basic materials company’s stock worth $34,640,000 after acquiring an additional 36,550 shares in the last quarter. Finally, Bank of Nova Scotia boosted its stake in Agrium by 10.7% during the second quarter. Bank of Nova Scotia now owns 762,339 shares of the basic materials company’s stock worth $69,101,000 after acquiring an additional 73,748 shares in the last quarter. 66.42% of the stock is currently owned by institutional investors and hedge funds.
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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