Nutrien (NYSE:NTR) Price Target Cut to $78.00 by Analysts at JPMorgan Chase & Co.

Nutrien (NYSE:NTR – Get Rating) had its price target reduced by investment analysts at JPMorgan Chase & Co. from $92.00 to $78.00 in a research note issued on Friday, The Fly reports. JPMorgan Chase & Co.‘s price objective indicates a potential upside of 25.91% from the company’s previous close.

Other equities research analysts have also recently issued research reports about the stock. Morgan Stanley decreased their target price on shares of Nutrien from $91.00 to $80.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 12th. Barclays decreased their price target on shares of Nutrien from $93.00 to $80.00 in a report on Friday, May 12th. Royal Bank of Canada decreased their price target on shares of Nutrien from $100.00 to $95.00 in a report on Friday, May 12th. Berenberg Bank cut shares of Nutrien from a “buy” rating to a “hold” rating and decreased their price target for the stock from $92.00 to $49.00 in a report on Wednesday. Finally, UBS Group decreased their price target on shares of Nutrien from $100.00 to $99.00 and set a “buy” rating for the company in a report on Thursday, April 6th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $80.35.

Nutrien Trading Up 0.8 %

NYSE:NTR opened at $61.95 on Friday. Nutrien has a 52 week low of $58.75 and a 52 week high of $103.20. The firm has a 50 day moving average of $69.74 and a 200 day moving average of $74.79. The company has a quick ratio of 0.61, a current ratio of 1.18 and a debt-to-equity ratio of 0.38. The stock has a market capitalization of $30.73 billion, a price-to-earnings ratio of 4.86, a PEG ratio of 0.89 and a beta of 0.88.

Nutrien (NYSE:NTR – Get Rating) last posted its earnings results on Wednesday, February 15th. The company reported $2.02 EPS for the quarter, missing analysts’ consensus estimates of $2.63 by ($0.61). Nutrien had a net margin of 18.86% and a return on equity of 23.85%. The firm had revenue of $7.53 billion for the quarter, compared to analysts’ expectations of $7.41 billion. During the same period in the previous year, the company earned $2.47 EPS. The company’s revenue was up 3.7% on a year-over-year basis. As a group, sell-side analysts anticipate that Nutrien will post 8.6 earnings per share for the current fiscal year.

Institutional Trading of Nutrien

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD grew its position in Nutrien by 3.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 22,758,328 shares of the company’s stock valued at $1,680,704,000 after buying an additional 773,028 shares during the period. Bank of America Corp DE grew its position in Nutrien by 49.8% during the first quarter. Bank of America Corp DE now owns 19,638,296 shares of the company’s stock valued at $1,450,288,000 after buying an additional 6,525,006 shares during the period. Vanguard Group Inc. grew its position in shares of Nutrien by 0.7% in the third quarter. Vanguard Group Inc. now owns 18,309,215 shares of the company’s stock valued at $1,526,621,000 after purchasing an additional 129,212 shares during the period. Deutsche Bank AG grew its position in shares of Nutrien by 6.3% in the first quarter. Deutsche Bank AG now owns 15,152,334 shares of the company’s stock valued at $1,119,000,000 after purchasing an additional 898,671 shares during the period. Finally, Dodge & Cox grew its position in shares of Nutrien by 7.3% in the first quarter. Dodge & Cox now owns 11,533,359 shares of the company’s stock valued at $851,739,000 after purchasing an additional 789,300 shares during the period. Institutional investors and hedge funds own 64.52% of the company’s stock.

Nutrien Company Profile

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Nutrien Ltd. is a crop nutrient company, which engages in the production and distribution of products for agricultural, industrial, and feed customer. It operates through the following segments: Retail, Potash, Nitrogen, and Phosphate. The Retail segment distributes crop nutrients, crop protection products, seed, and merchandise.