Oppenheimer Lowers Nutrien (NYSE:NTR) Price Target to $80.00

Nutrien (NYSE:NTR) had its target price dropped by analysts at Oppenheimer from $82.00 to $80.00 in a report released on Thursday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Oppenheimer’s price objective suggests a potential upside of 17.34% from the stock’s current price.

A number of other research firms have also issued reports on NTR. UBS Group decreased their price objective on Nutrien from $67.00 to $65.00 and set a “sell” rating on the stock in a research note on Monday, May 11th. JPMorgan Chase & Co. lifted their target price on Nutrien from $78.00 to $80.00 and gave the company an “overweight” rating in a report on Monday, May 11th. Bank of America upgraded Nutrien from a “neutral” rating to a “buy” rating and set a $82.00 price target on the stock in a research report on Thursday, April 30th. Morgan Stanley lowered their price target on shares of Nutrien from $93.00 to $81.00 and set an “overweight” rating on the stock in a report on Tuesday, July 7th. Finally, Scotiabank upgraded shares of Nutrien from a “sector perform” rating to a “sector outperform” rating and set a $80.00 price objective for the company in a research report on Tuesday, June 30th. Fourteen equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Nutrien currently has an average rating of “Moderate Buy” and a consensus price target of $81.89.

Nutrien Stock Down 0.5%

Nutrien stock opened at $68.18 on Thursday. Nutrien has a 1-year low of $53.03 and a 1-year high of $85.36. The firm has a market capitalization of $32.61 billion, a price-to-earnings ratio of 13.89, a P/E/G ratio of 0.67 and a beta of 0.62. The company has a current ratio of 1.24, a quick ratio of 0.59 and a debt-to-equity ratio of 0.35. The firm has a 50 day simple moving average of $66.52 and a 200 day simple moving average of $70.04.

Nutrien (NYSE:NTR) last posted its earnings results on Wednesday, May 6th. The company reported $0.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.03. Nutrien had a return on equity of 8.84% and a net margin of 8.58%.The firm had revenue of $6.05 billion for the quarter, compared to the consensus estimate of $5.30 billion. During the same quarter in the prior year, the business posted $0.11 earnings per share. The business’s quarterly revenue was up 18.5% on a year-over-year basis. On average, analysts predict that Nutrien will post 5.11 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. Guggenheim Capital LLC grew its holdings in shares of Nutrien by 2.2% during the 4th quarter. Guggenheim Capital LLC now owns 6,628 shares of the company’s stock valued at $409,000 after purchasing an additional 145 shares during the last quarter. Minot DeBlois Advisors LLC grew its stake in shares of Nutrien by 1.8% during the fourth quarter. Minot DeBlois Advisors LLC now owns 9,032 shares of the company’s stock valued at $557,000 after buying an additional 164 shares during the last quarter. Banque Cantonale Vaudoise increased its holdings in shares of Nutrien by 15.9% in the first quarter. Banque Cantonale Vaudoise now owns 1,198 shares of the company’s stock worth $90,000 after buying an additional 164 shares during the period. Gould Asset Management LLC CA increased its holdings in shares of Nutrien by 4.4% in the first quarter. Gould Asset Management LLC CA now owns 3,933 shares of the company’s stock worth $297,000 after buying an additional 165 shares during the period. Finally, EverSource Wealth Advisors LLC lifted its stake in shares of Nutrien by 21.8% in the 4th quarter. EverSource Wealth Advisors LLC now owns 983 shares of the company’s stock valued at $61,000 after acquiring an additional 176 shares during the last quarter. 63.10% of the stock is owned by hedge funds and other 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.