Nutrien (NYSE:NTR – Get Free Report) had its target price hoisted by equities research analysts at Berenberg Bank from $49.00 to $67.00 in a research note issued on Thursday, BayStreet.CA reports. The brokerage currently has a “hold” rating on the stock. Berenberg Bank’s price objective would suggest a potential upside of 6.57% from the company’s previous close.
A number of other equities research analysts have also recently weighed in on the company. Barclays cut Nutrien from an “overweight” rating to an “underweight” rating and lowered their price target for the stock from $70.00 to $68.00 in a report on Monday, August 14th. Raymond James upgraded Nutrien from a “market perform” rating to an “outperform” rating and set a $85.00 price target on the stock in a report on Friday, May 12th. JPMorgan Chase & Co. lowered their target price on Nutrien from $78.00 to $70.00 and set an “equal weight” rating on the stock in a report on Friday, August 4th. Piper Sandler increased their target price on Nutrien from $70.00 to $73.00 and gave the company a “neutral” rating in a report on Monday, August 7th. Finally, TD Securities lowered their target price on Nutrien from $83.00 to $81.00 and set a “buy” rating on the stock in a report on Sunday, August 6th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $79.79.
Nutrien Stock Performance
Nutrien (NYSE:NTR – Get Free Report) last released its quarterly earnings results on Wednesday, August 2nd. The company reported $2.53 earnings per share for the quarter, missing analysts’ consensus estimates of $2.83 by ($0.30). The firm had revenue of $11.65 billion during the quarter, compared to analyst estimates of $11.04 billion. Nutrien had a return on equity of 16.41% and a net margin of 11.05%. The business’s revenue was down 19.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $5.85 EPS. Research analysts expect that Nutrien will post 6.68 EPS for the current year.
Hedge Funds Weigh In On Nutrien
A number of hedge funds have recently bought and sold shares of the company. ST Germain D J Co. Inc. acquired a new position in Nutrien in the second quarter worth about $104,000. Portside Wealth Group LLC bought a new position in Nutrien in the second quarter worth about $575,000. Osaic Holdings Inc. lifted its holdings in Nutrien by 2.9% in the second quarter. Osaic Holdings Inc. now owns 79,420 shares of the company’s stock worth $4,691,000 after acquiring an additional 2,255 shares during the last quarter. Imprint Wealth LLC bought a new stake in shares of Nutrien during the second quarter valued at approximately $10,040,000. Finally, Wambolt & Associates LLC raised its holdings in shares of Nutrien by 9.2% during the second quarter. Wambolt & Associates LLC now owns 14,404 shares of the company’s stock valued at $851,000 after buying an additional 1,210 shares during the last quarter. 62.77% of the stock is currently owned by institutional investors and hedge funds.
Nutrien Ltd. provides crop inputs and services. The company operates through Retail, Potash, Nitrogen, and Phosphate segments. The Retail segment distributes crop nutrients, crop protection products, seeds, and merchandise products. The Potash segment provides granular and standard potash products. The Nitrogen segment offers ammonia, urea, urea ammonium nitrate, industrial grade ammonium nitrate, and ammonium sulfate.
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