Nutrien (NYSE:NTR) Stock Price Expected to Rise, CIBC Analyst Says

Nutrien (NYSE:NTR) had its target price boosted by investment analysts at CIBC from $64.00 to $66.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage currently has an “outperformer” rating on the stock. CIBC’s target price would indicate a potential upside of 24.34% from the company’s current price.

NTR has been the subject of several other reports. Raymond James upgraded Nutrien from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $58.00 to $60.00 in a report on Tuesday, December 3rd. TD Securities reduced their price objective on shares of Nutrien from $63.00 to $61.00 and set a “buy” rating for the company in a research note on Tuesday, November 12th. Piper Sandler raised their target price on shares of Nutrien from $58.00 to $63.00 and gave the company an “overweight” rating in a research note on Monday, January 27th. Mizuho lifted their target price on shares of Nutrien from $52.00 to $55.00 and gave the stock a “neutral” rating in a report on Thursday, February 20th. Finally, Wells Fargo & Company upped their price target on shares of Nutrien from $53.00 to $56.00 and gave the company an “equal weight” rating in a report on Friday. One investment analyst has rated the stock with a sell rating, six have given a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $60.11.

Nutrien Stock Up 1.7 %

NYSE NTR traded up $0.88 during trading on Tuesday, reaching $53.08. 1,489,970 shares of the company’s stock were exchanged, compared to its average volume of 2,382,368. The company has a current ratio of 1.27, a quick ratio of 0.82 and a debt-to-equity ratio of 0.38. Nutrien has a fifty-two week low of $43.69 and a fifty-two week high of $60.87. The company’s fifty day simple moving average is $49.51 and its 200-day simple moving average is $48.29. The firm has a market capitalization of $26.00 billion, a PE ratio of 38.78, a P/E/G ratio of 1.19 and a beta of 0.81.

Nutrien (NYSE:NTR) last announced its quarterly earnings results on Wednesday, February 19th. The company reported $0.28 EPS for the quarter, missing the consensus estimate of $0.37 by ($0.09). Nutrien had a net margin of 2.62% and a return on equity of 6.81%. The firm had revenue of $5.08 billion during the quarter, compared to the consensus estimate of $5.09 billion. Sell-side analysts predict that Nutrien will post 3.72 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Norges Bank acquired a new stake in Nutrien during the fourth quarter valued at approximately $241,958,000. Arrowstreet Capital Limited Partnership boosted its stake in Nutrien by 159.5% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 5,435,627 shares of the company’s stock valued at $242,976,000 after buying an additional 3,341,169 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in Nutrien in the third quarter valued at $150,181,000. ARGA Investment Management LP grew its position in Nutrien by 25.7% in the fourth quarter. ARGA Investment Management LP now owns 6,043,590 shares of the company’s stock valued at $270,396,000 after acquiring an additional 1,236,671 shares during the period. Finally, Clal Insurance Enterprises Holdings Ltd raised its stake in Nutrien by 78.8% during the third quarter. Clal Insurance Enterprises Holdings Ltd now owns 2,495,282 shares of the company’s stock worth $121,271,000 after acquiring an additional 1,100,000 shares in the last quarter. Institutional investors and hedge funds own 63.10% of the company’s stock.

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.