Nutrien (NYSE:NTR) Raised to Buy at Wall Street Zen

Nutrien (NYSE:NTR) was upgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research note issued on Saturday.

Several other analysts also recently commented on the stock. Mizuho raised their price objective on shares of Nutrien from $65.00 to $68.00 and gave the company a “neutral” rating in a research report on Friday, January 16th. Zacks Research raised Nutrien from a “hold” rating to a “strong-buy” rating in a report on Tuesday. UBS Group boosted their price objective on Nutrien from $58.00 to $63.00 and gave the company a “neutral” rating in a research report on Monday, January 12th. Scotiabank dropped their price objective on Nutrien from $65.00 to $63.00 and set a “sector perform” rating for the company in a research note on Monday, November 10th. Finally, Oppenheimer reissued an “outperform” rating on shares of Nutrien in a research note on Tuesday. Two investment analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $65.88.

Nutrien Trading Down 3.2%

Shares of NYSE:NTR opened at $68.86 on Friday. The stock has a 50 day moving average of $62.84 and a 200 day moving average of $59.52. The company has a market cap of $33.19 billion, a PE ratio of 18.56 and a beta of 0.72. Nutrien has a 12-month low of $45.78 and a 12-month high of $73.07. The company has a current ratio of 1.41, a quick ratio of 0.89 and a debt-to-equity ratio of 0.39.

Nutrien (NYSE:NTR) last released its earnings results on Wednesday, November 5th. The company reported $0.97 EPS for the quarter, topping analysts’ consensus estimates of $0.91 by $0.06. Nutrien had a net margin of 6.79% and a return on equity of 7.54%. The company had revenue of $5.82 billion for the quarter, compared to analysts’ expectations of $5.59 billion. During the same quarter last year, the business earned $0.39 EPS. The firm’s revenue was up 12.3% compared to the same quarter last year. As a group, equities research analysts expect that Nutrien will post 3.72 EPS for the current year.

Institutional Investors Weigh In On Nutrien

A number of hedge funds have recently made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Nutrien by 65.1% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 25,224 shares of the company’s stock valued at $1,253,000 after buying an additional 9,950 shares in the last quarter. NewEdge Advisors LLC raised its holdings in shares of Nutrien by 6.2% during the 1st quarter. NewEdge Advisors LLC now owns 6,907 shares of the company’s stock worth $343,000 after acquiring an additional 404 shares in the last quarter. Focus Partners Wealth bought a new position in shares of Nutrien during the 1st quarter valued at approximately $516,000. Acadian Asset Management LLC purchased a new position in shares of Nutrien in the first quarter valued at $54,000. Finally, Ameritas Advisory Services LLC bought a new stake in Nutrien in the second quarter worth $80,000. 63.10% of the stock is currently owned by hedge funds and other institutional investors.

Nutrien Company Profile

Nutrien Ltd. is a global fertilizer and agricultural-services company headquartered in Saskatoon, Saskatchewan, Canada. The company is publicly traded and operates across the farm input value chain, combining upstream fertilizer production with a broad retail and services platform aimed at supporting crop production worldwide. Nutrien’s business model integrates the manufacture and distribution of crop nutrients with on-the-ground agronomic support for growers and agricultural businesses.

Nutrien produces and supplies the three primary fertilizer nutrients—potash, nitrogen and phosphate—through its wholesale operations, and markets a wide range of crop inputs including seeds and crop protection products.