Nutrien (NYSE:NTR) Rating Increased to Hold at Zacks Investment Research

Nutrien (NYSE:NTR) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a research note issued 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 equities research analysts also recently issued reports on the stock. TD Securities cut their target price on shares of Nutrien from $69.00 to $67.00 and set a “buy” rating for the company in a research note on Wednesday, October 23rd. CIBC set a $70.00 price target on Nutrien and gave the company a “buy” rating in a research note on Wednesday, October 9th. TheStreet raised Nutrien from a “c” rating to a “b-” rating in a research report on Friday, November 8th. Bank of America upgraded Nutrien from a “neutral” rating to a “buy” rating and set a $54.00 price objective on the stock in a research note on Monday, November 25th. Finally, UBS Group set a $62.00 price objective on Nutrien and gave the company a “buy” rating in a report on Tuesday, August 27th. Five research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $60.53.

NYSE:NTR opened at $46.44 on Wednesday. Nutrien has a 1-year low of $43.96 and a 1-year high of $56.00. The company has a current ratio of 1.28, a quick ratio of 0.77 and a debt-to-equity ratio of 0.41. The firm has a fifty day simple moving average of $48.42 and a 200 day simple moving average of $50.36. The stock has a market capitalization of $27.17 billion, a PE ratio of 17.26, a P/E/G ratio of 2.61 and a beta of 0.89.

Nutrien (NYSE:NTR) last posted its quarterly earnings results on Monday, November 4th. The company reported $0.24 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.36 by ($0.12). Nutrien had a return on equity of 6.49% and a net margin of 20.95%. The firm had revenue of $4.13 billion for the quarter, compared to the consensus estimate of $4.02 billion. During the same period last year, the company posted $0.47 earnings per share. The business’s revenue was up 3.6% compared to the same quarter last year. On average, equities analysts predict that Nutrien will post 2.28 earnings per share for the current fiscal year.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Man Group plc acquired a new stake in Nutrien in the third quarter valued at about $2,394,000. National Pension Service grew its stake in shares of Nutrien by 4.3% during the third quarter. National Pension Service now owns 1,041,299 shares of the company’s stock worth $68,726,000 after buying an additional 43,001 shares during the last quarter. Sunbelt Securities Inc. bought a new stake in shares of Nutrien during the third quarter worth $220,000. Parametric Portfolio Associates LLC increased its holdings in shares of Nutrien by 25.2% during the third quarter. Parametric Portfolio Associates LLC now owns 283,079 shares of the company’s stock worth $14,120,000 after buying an additional 56,996 shares in the last quarter. Finally, Phoenix Holdings Ltd. acquired a new position in shares of Nutrien during the third quarter worth $12,263,000. Hedge funds and other institutional investors own 65.00% of the company’s stock.

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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