Oppenheimer Initiates Coverage on Nutrien (NYSE:NTR)

Analysts at Oppenheimer assumed coverage on shares of Nutrien (NYSE:NTR) in a report issued on Thursday,Benzinga reports. The brokerage set an “outperform” rating and a $60.00 price target on the stock. Oppenheimer’s target price indicates a potential upside of 24.53% from the company’s previous close.

Several other research analysts also recently commented on the stock. Raymond James raised shares of Nutrien from a “market perform” rating to an “outperform” rating and lifted their price target for the stock from $58.00 to $60.00 in a research note on Tuesday, December 3rd. Royal Bank of Canada reiterated an “outperform” rating and issued a $60.00 target price on shares of Nutrien in a research report on Friday, September 20th. CIBC restated an “outperformer” rating and set a $55.00 price target (down from $60.00) on shares of Nutrien in a research report on Tuesday. The Goldman Sachs Group cut Nutrien from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $69.00 to $53.00 in a research note on Tuesday, September 10th. Finally, Barclays lowered their target price on Nutrien from $68.00 to $55.00 and set an “overweight” rating for the company in a research note on Friday, August 16th. Three research analysts have rated the stock with a sell rating, four have given a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $58.95.

Nutrien Trading Up 0.5 %

NYSE NTR opened at $48.18 on Thursday. The company has a quick ratio of 0.82, a current ratio of 1.27 and a debt-to-equity ratio of 0.38. The stock’s 50-day simple moving average is $47.85 and its two-hundred day simple moving average is $49.09. Nutrien has a twelve month low of $44.65 and a twelve month high of $60.87. The company has a market capitalization of $23.72 billion, a price-to-earnings ratio of 32.34, a PEG ratio of 1.72 and a beta of 0.80.

Nutrien (NYSE:NTR) last announced its quarterly earnings data on Wednesday, November 6th. The company reported $0.39 EPS for the quarter, missing the consensus estimate of $0.43 by ($0.04). The firm had revenue of $5.35 billion for the quarter, compared to the consensus estimate of $5.26 billion. Nutrien had a net margin of 2.79% and a return on equity of 6.99%. Nutrien’s revenue for the quarter was down 5.0% compared to the same quarter last year. During the same quarter last year, the company posted $0.35 earnings per share. Research analysts forecast that Nutrien will post 3.49 EPS for the current fiscal year.

Institutional Investors Weigh In On Nutrien

Institutional investors and hedge funds have recently modified their holdings of the stock. Central Pacific Bank Trust Division purchased a new position in shares of Nutrien during the third quarter valued at about $28,000. Family Firm Inc. purchased a new position in shares of Nutrien during the 2nd quarter worth approximately $32,000. Andra AP fonden bought a new position in shares of Nutrien in the 2nd quarter worth approximately $51,000. Oakworth Capital Inc. purchased a new position in shares of Nutrien in the 2nd quarter valued at approximately $52,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Nutrien during the second quarter valued at approximately $52,000. 63.10% of the stock is owned by hedge funds and other institutional investors.

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.