Oppenheimer Forecasts Strong Price Appreciation for Nutrien (NYSE:NTR) Stock

Nutrien (NYSE:NTR) had its target price raised by equities researchers at Oppenheimer from $78.00 to $80.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Oppenheimer’s target price would indicate a potential upside of 10.83% from the stock’s previous close.

Several other research firms have also recently commented on NTR. Zacks Research cut shares of Nutrien from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 2nd. Morgan Stanley upped their target price on shares of Nutrien from $77.00 to $93.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 8th. Raymond James Financial upped their target price on shares of Nutrien from $68.00 to $74.00 and gave the stock a “market perform” rating in a research report on Friday, February 20th. Wall Street Zen cut shares of Nutrien from a “buy” rating to a “hold” rating in a research report on Sunday, April 12th. Finally, TD Securities upped their target price on shares of Nutrien from $80.00 to $81.00 and gave the stock a “buy” rating in a research report on Tuesday, February 17th. Ten analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $80.06.

Nutrien Price Performance

NTR opened at $72.18 on Wednesday. The firm has a market cap of $34.70 billion, a price-to-earnings ratio of 15.49 and a beta of 0.69. Nutrien has a fifty-two week low of $53.03 and a fifty-two week high of $85.36. The company’s 50-day moving average price is $74.59 and its 200 day moving average price is $66.07. 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 posted its earnings results on Wednesday, February 18th. The company reported $0.83 EPS for the quarter, missing the consensus estimate of $0.87 by ($0.04). Nutrien had a return on equity of 8.41% and a net margin of 8.43%.The firm had revenue of $5.12 billion during the quarter, compared to the consensus estimate of $5.26 billion. During the same quarter last year, the company posted $0.31 EPS. Nutrien’s revenue for the quarter was up 5.1% on a year-over-year basis. As a group, sell-side analysts expect that Nutrien will post 4.69 earnings per share for the current year.

Institutional Trading of Nutrien

A number of large investors have recently added to or reduced their stakes in the business. Guggenheim Capital LLC boosted its holdings in Nutrien by 2.2% during the fourth quarter. Guggenheim Capital LLC now owns 6,628 shares of the company’s stock worth $409,000 after buying an additional 145 shares in the last quarter. Minot DeBlois Advisors LLC boosted its holdings in Nutrien by 1.8% during the fourth quarter. Minot DeBlois Advisors LLC now owns 9,032 shares of the company’s stock worth $557,000 after buying an additional 164 shares in the last quarter. Banque Cantonale Vaudoise boosted its holdings in Nutrien by 15.9% during 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 in the last quarter. Smith Moore & CO. boosted its holdings in Nutrien by 2.2% during the third quarter. Smith Moore & CO. now owns 7,642 shares of the company’s stock worth $449,000 after buying an additional 168 shares in the last quarter. Finally, EverSource Wealth Advisors LLC boosted its holdings in Nutrien by 21.8% during the fourth quarter. EverSource Wealth Advisors LLC now owns 983 shares of the company’s stock worth $61,000 after buying an additional 176 shares in the last quarter. 63.10% of the stock is currently owned by 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.