BMO Capital Markets Forecasts Strong Price Appreciation for Nutrien (NYSE:NTR) Stock

Nutrien (NYSE:NTR) had its price target hoisted by equities researchers at BMO Capital Markets from $85.00 to $90.00 in a report released on Wednesday,Benzinga reports. The firm presently has an “outperform” rating on the stock. BMO Capital Markets’ price target would suggest a potential upside of 18.42% from the stock’s current price.

Other research analysts also recently issued research reports about the company. Zacks Research downgraded Nutrien from a “strong-buy” rating to a “hold” rating in a report on Monday, March 2nd. UBS Group upped their price target on Nutrien from $58.00 to $63.00 and gave the stock a “neutral” rating in a research note on Monday, January 12th. JPMorgan Chase & Co. increased their price objective on Nutrien from $68.00 to $78.00 and gave the stock an “overweight” rating in a report on Friday, February 20th. Morgan Stanley raised Nutrien from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $70.00 to $77.00 in a research report on Wednesday, January 14th. Finally, Canadian Imperial Bank of Commerce upped their target price on shares of Nutrien from $81.00 to $90.00 and gave the stock an “outperformer” rating in a research report on Tuesday. Eleven research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Nutrien has a consensus rating of “Hold” and a consensus target price of $77.11.

Nutrien Stock Performance

Shares of NTR stock opened at $76.00 on Wednesday. The firm has a market capitalization of $36.56 billion, a price-to-earnings ratio of 16.31 and a beta of 0.70. The stock has a fifty day moving average of $71.59 and a 200 day moving average of $63.15. Nutrien has a 52 week low of $45.78 and a 52 week high of $85.36. The company has a quick ratio of 0.70, a current ratio of 1.34 and a debt-to-equity ratio of 0.37.

Nutrien (NYSE:NTR) last issued its quarterly earnings data on Wednesday, February 18th. The company reported $0.83 EPS for the quarter, missing the consensus estimate of $0.87 by ($0.04). The company had revenue of $5.12 billion during the quarter, compared to the consensus estimate of $5.26 billion. Nutrien had a return on equity of 8.41% and a net margin of 8.43%.The firm’s revenue for the quarter was up 5.1% compared to the same quarter last year. During the same quarter last year, the company posted $0.31 earnings per share. As a group, research analysts expect that Nutrien will post 3.72 earnings per share for the current year.

Hedge Funds Weigh In On Nutrien

Institutional investors and hedge funds have recently modified their holdings of the stock. Wellington Management Group LLP boosted its stake in Nutrien by 440.2% in the 4th quarter. Wellington Management Group LLP now owns 16,338,606 shares of the company’s stock worth $1,008,713,000 after purchasing an additional 13,313,817 shares in the last quarter. Norges Bank purchased a new position in Nutrien in the second quarter worth about $395,842,000. Arrowstreet Capital Limited Partnership raised its holdings in Nutrien by 48.5% in the second quarter. Arrowstreet Capital Limited Partnership now owns 11,944,730 shares of the company’s stock worth $696,058,000 after buying an additional 3,900,755 shares during the last quarter. Boston Partners bought a new position in shares of Nutrien in the second quarter worth approximately $150,416,000. Finally, TD Asset Management Inc lifted its stake in shares of Nutrien by 21.2% in the fourth quarter. TD Asset Management Inc now owns 8,928,534 shares of the company’s stock worth $551,821,000 after buying an additional 1,559,673 shares in the last quarter. 63.10% of the stock is currently owned by institutional investors.

About Nutrien

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.