Scotiabank Has Lowered Expectations for Nutrien (NYSE:NTR) Stock Price

Nutrien (NYSE:NTR) had its target price dropped by analysts at Scotiabank from $65.00 to $63.00 in a research report issued on Monday,Benzinga reports. The firm currently has a “sector perform” rating on the stock. Scotiabank’s target price points to a potential upside of 6.21% from the company’s previous close.

Several other analysts have also recently commented on the stock. Oppenheimer reaffirmed an “outperform” rating on shares of Nutrien in a research note on Wednesday, October 22nd. Royal Bank Of Canada restated an “outperform” rating on shares of Nutrien in a report on Monday, July 14th. National Bankshares started coverage on Nutrien in a research note on Friday, September 5th. They issued a “sector perform” rating and a $64.00 target price for the company. Wells Fargo & Company reiterated a “cautious” rating on shares of Nutrien in a research report on Thursday, October 16th. Finally, Mizuho decreased their price target on Nutrien from $64.00 to $61.00 and set a “neutral” rating on the stock in a research note on Thursday, November 6th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, fourteen have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Nutrien has an average rating of “Hold” and an average price target of $62.94.

Nutrien Price Performance

NYSE:NTR opened at $59.32 on Monday. Nutrien has a 12-month low of $43.69 and a 12-month high of $65.08. The firm has a market cap of $28.73 billion, a price-to-earnings ratio of 21.26, a price-to-earnings-growth ratio of 0.92 and a beta of 0.83. The company’s 50-day moving average is $57.44 and its two-hundred day moving average is $58.34. The company has a current ratio of 1.33, a quick ratio of 0.85 and a debt-to-equity ratio of 0.39.

Nutrien (NYSE:NTR) last issued its quarterly 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. The business had revenue of $5.82 billion during the quarter, compared to the consensus estimate of $5.59 billion. Nutrien had a net margin of 5.25% and a return on equity of 6.51%. The company’s quarterly revenue was up 12.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.39 earnings per share. Research analysts expect that Nutrien will post 3.72 EPS for the current year.

Hedge Funds Weigh In On Nutrien

Several hedge funds and other institutional investors have recently modified their holdings of the company. Intech Investment Management LLC increased its holdings in Nutrien by 284.0% in the first quarter. Intech Investment Management LLC now owns 69,128 shares of the company’s stock valued at $3,430,000 after buying an additional 51,126 shares during the last quarter. Covea Finance lifted its holdings in Nutrien by 16.5% during the 2nd quarter. Covea Finance now owns 73,500 shares of the company’s stock worth $4,265,000 after buying an additional 10,400 shares during the last quarter. Belpointe Asset Management LLC acquired a new position in shares of Nutrien in the 1st quarter worth approximately $311,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of Nutrien by 1.0% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 736,996 shares of the company’s stock valued at $36,607,000 after acquiring an additional 7,194 shares during the last quarter. Finally, IFP Advisors Inc increased its holdings in shares of Nutrien by 12.3% in the 2nd quarter. IFP Advisors Inc now owns 52,426 shares of the company’s stock valued at $3,053,000 after acquiring an additional 5,752 shares during the last quarter. 63.10% of the stock is owned by institutional investors and hedge funds.

About Nutrien

Nutrien Ltd. provides crop inputs and services. The company operates through four segments: Retail, Potash, Nitrogen, and Phosphate. The Retail segment distributes crop nutrients, crop protection products, seeds, and merchandise products. The Potash segment provides granular and standard potash products.