Piper Sandler Upgrades Nutrien (NYSE:NTR) to Overweight

Nutrien (NYSE:NTRGet Free Report) was upgraded by stock analysts at Piper Sandler from an “underweight” rating to an “overweight” rating in a report released on Monday, Marketbeat Ratings reports. The brokerage presently has a $58.00 price target on the stock, up from their prior price target of $50.00. Piper Sandler’s price objective points to a potential upside of 12.19% from the stock’s current price.

Several other equities analysts also recently issued reports on NTR. JPMorgan Chase & Co. raised shares of Nutrien from an “underweight” rating to a “neutral” rating and boosted their price target for the company from $40.00 to $50.00 in a report on Monday. Oppenheimer assumed coverage on shares of Nutrien in a research note on Thursday, December 12th. They set an “outperform” rating and a $60.00 target price for the company. CIBC restated an “outperformer” rating and issued a $55.00 price target (down previously from $60.00) on shares of Nutrien in a research note on Tuesday, December 10th. UBS Group downgraded Nutrien from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $66.00 to $51.00 in a research report on Thursday, October 10th. Finally, Raymond James upgraded Nutrien from a “market perform” rating to an “outperform” rating and raised their target price for the company from $58.00 to $60.00 in a research report on Tuesday, December 3rd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $59.21.

Get Our Latest Stock Report on NTR

Nutrien Price Performance

NTR opened at $51.70 on Monday. 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 company’s 50-day moving average price is $46.90 and its 200 day moving average price is $47.85. Nutrien has a fifty-two week low of $43.69 and a fifty-two week high of $60.87. The firm has a market cap of $25.46 billion, a price-to-earnings ratio of 34.70, a price-to-earnings-growth ratio of 1.73 and a beta of 0.81.

Nutrien (NYSE:NTRGet Free Report) last announced its quarterly earnings results on Wednesday, November 6th. The company reported $0.39 earnings per share for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.04). Nutrien had a return on equity of 6.99% and a net margin of 2.79%. The company had revenue of $5.35 billion for the quarter, compared to analyst estimates of $5.26 billion. During the same quarter in the previous year, the company posted $0.35 earnings per share. The firm’s revenue for the quarter was down 5.0% compared to the same quarter last year. As a group, sell-side analysts expect that Nutrien will post 3.5 earnings per share for the current year.

Institutional Investors Weigh In On Nutrien

A number of institutional investors and hedge funds have recently modified their holdings of NTR. Central Pacific Bank Trust Division acquired a new position in shares of Nutrien in the 3rd quarter valued at $28,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Nutrien during the second quarter valued at about $52,000. Larson Financial Group LLC boosted its holdings in shares of Nutrien by 1,370.6% in the third quarter. Larson Financial Group LLC now owns 1,603 shares of the company’s stock worth $77,000 after buying an additional 1,494 shares during the period. EverSource Wealth Advisors LLC increased its position in shares of Nutrien by 56.3% in the second quarter. EverSource Wealth Advisors LLC now owns 1,680 shares of the company’s stock worth $86,000 after acquiring an additional 605 shares in the last quarter. Finally, Cromwell Holdings LLC raised its holdings in shares of Nutrien by 113.4% during the third quarter. Cromwell Holdings LLC now owns 1,694 shares of the company’s stock valued at $82,000 after acquiring an additional 900 shares during the period. 63.10% of the stock is owned by institutional investors and hedge funds.

About Nutrien

(Get Free Report)

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.

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