Agrium Inc. (NYSE:AGU) (TSE:AGU) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Wednesday.

According to Zacks, “Agrium has underperformed the industry it belongs to over the last three months. Agrium is still reeling under the effects of the depressed prices of crop nutrients which is expected to continue to weigh on its sales and earnings. Nitrogen and phosphate prices remain under pressure. The crop pricing environment is also expected to remain soft in the near term. The company also faces challenging agriculture market fundamentals.”

Other equities research analysts have also recently issued research reports about the stock. HSBC Holdings plc began coverage on shares of Agrium in a research note on Wednesday. They set a “buy” rating and a $126.50 target price on the stock. TD Securities lifted their target price on shares of Agrium from $99.00 to $102.00 and gave the stock a “hold” rating in a research note on Thursday, August 10th. OTR Global raised shares of Agrium to a “neutral” rating in a research note on Tuesday, September 12th. Stifel Nicolaus reaffirmed a “buy” rating and set a $116.00 target price (up previously from $107.00) on shares of Agrium in a research note on Friday, August 11th. Finally, Cowen and Company set a $99.00 target price on shares of Agrium and gave the stock a “buy” rating in a research note on Friday, July 28th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and nine have issued a buy rating to the company’s stock. Agrium currently has an average rating of “Hold” and an average price target of $111.86.

Shares of Agrium (AGU) traded up 0.68% during midday trading on Wednesday, hitting $106.50. 271,672 shares of the stock traded hands. The company’s 50 day moving average price is $103.33 and its 200-day moving average price is $96.65. The stock has a market cap of $14.72 billion, a price-to-earnings ratio of 25.69 and a beta of 0.62. Agrium has a 12-month low of $87.78 and a 12-month high of $111.88.

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Hedge funds and other institutional investors have recently bought and sold shares of the business. Tower Research Capital LLC TRC lifted its position in Agrium by 138.8% in the first quarter. Tower Research Capital LLC TRC now owns 1,564 shares of the basic materials company’s stock valued at $150,000 after buying an additional 909 shares during the last quarter. Edmond DE Rothschild Holding S.A. lifted its position in Agrium by 11.4% in the second quarter. Edmond DE Rothschild Holding S.A. now owns 1,715 shares of the basic materials company’s stock valued at $155,000 after buying an additional 175 shares during the last quarter. V Wealth Management LLC acquired a new position in Agrium in the second quarter valued at about $156,000. Envestnet Asset Management Inc. lifted its position in Agrium by 4.8% in the first quarter. Envestnet Asset Management Inc. now owns 2,247 shares of the basic materials company’s stock valued at $212,000 after buying an additional 103 shares during the last quarter. Finally, M&T Bank Corp acquired a new position in Agrium in the first quarter valued at about $234,000. 66.41% of the stock is currently owned by 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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