Zacks Investment Research Upgrades Nutrien (NYSE:NTR) to Hold

Nutrien (NYSE:NTR) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Wednesday, Zacks.com reports.

According to Zacks, “Nutrien Ltd. produces and sells fertilizers and related industrial and feed products. The company’s products primarily include standard and granular potash; diammonium phosphate, monoammonium phosphate and phosphoric acid and ammonia, urea, nitric acid, ammonium nitrate and nitrogen solutions, as well as purified acids and phosphate feed products. Nutrien Ltd., formerly known as Potash Corporation of Saskatchewan Inc., is headquartered in Saskatoon, Canada. “

Several other research analysts have also issued reports on the stock. ValuEngine lowered shares of Nutrien from a “hold” rating to a “sell” rating in a research note on Wednesday, September 4th. Consumer Edge began coverage on shares of Nutrien in a research note on Monday, September 23rd. They set an “overweight” rating and a $67.00 price objective on the stock. UBS Group set a $62.00 price objective on shares of Nutrien and gave the stock a “buy” rating in a research note on Tuesday, August 27th. Citigroup set a $61.00 price objective on shares of Nutrien and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Finally, Scotiabank set a $60.00 price objective on shares of Nutrien and gave the stock a “buy” rating in a research note on Thursday, September 26th. Seven research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. Nutrien presently has an average rating of “Buy” and an average target price of $61.60.

Shares of NYSE NTR traded down $0.14 during mid-day trading on Wednesday, hitting $48.47. The company’s stock had a trading volume of 860,215 shares, compared to its average volume of 1,576,972. The stock has a market cap of $28.72 billion, a price-to-earnings ratio of 18.02, a price-to-earnings-growth ratio of 2.45 and a beta of 0.91. Nutrien has a one year low of $43.96 and a one year high of $58.99. The company’s fifty day simple moving average is $50.18 and its 200-day simple moving average is $51.62.

Nutrien (NYSE:NTR) last issued its earnings results on Monday, July 29th. The company reported $1.58 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.59 by ($0.01). The firm had revenue of $8.66 billion for the quarter, compared to the consensus estimate of $8.17 billion. The company’s revenue was up 6.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.48 earnings per share. On average, equities research analysts anticipate that Nutrien will post 2.56 EPS for the current fiscal year.

A number of institutional investors and hedge funds have recently made changes to their positions in NTR. Geode Capital Management LLC lifted its stake in Nutrien by 9.8% in the fourth quarter. Geode Capital Management LLC now owns 513,112 shares of the company’s stock valued at $23,911,000 after buying an additional 45,692 shares in the last quarter. Nomura Asset Management Co. Ltd. lifted its stake in Nutrien by 378.3% in the first quarter. Nomura Asset Management Co. Ltd. now owns 23,182 shares of the company’s stock valued at $1,224,000 after buying an additional 18,335 shares in the last quarter. Envestnet Asset Management Inc. lifted its stake in Nutrien by 75.0% in the first quarter. Envestnet Asset Management Inc. now owns 195,807 shares of the company’s stock valued at $10,331,000 after buying an additional 83,908 shares in the last quarter. Rockefeller Capital Management L.P. bought a new position in Nutrien in the first quarter valued at approximately $105,000. Finally, Jennison Associates LLC raised its holdings in shares of Nutrien by 8.7% in the first quarter. Jennison Associates LLC now owns 318,545 shares of the company’s stock valued at $16,806,000 after purchasing an additional 25,521 shares during the last quarter. 65.50% of the stock is currently owned by hedge funds and other institutional investors.

Nutrien Company Profile

Nutrien Ltd. produces and markets crop nutrients to agricultural, industrial, and feed customers worldwide. It operates in four segments: Retail, Potash, Nitrogen, and Phosphate and Sulfate. The company offers potash, nitrogen, phosphate, and sulfate products. It also distributes crop nutrients, crop protection products, seeds, and merchandise products through operating 1,700 retail locations.

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