Nutrien (NYSE:NTR) Rating Lowered to Equal Weight at Wells Fargo & Company

Nutrien (NYSE:NTR) was downgraded by stock analysts at Wells Fargo & Company from an “overweight” rating to an “equal weight” rating in a report issued on Tuesday, MarketBeat.com reports. They currently have a $50.00 price target on the stock, down from their prior price target of $62.00. Wells Fargo & Company‘s price target points to a potential upside of 5.93% from the stock’s current price.

Other equities research analysts also recently issued reports about the company. UBS Group reduced their price target on Nutrien from $67.00 to $66.00 and set a “buy” rating on the stock in a report on Tuesday, July 9th. Royal Bank of Canada reiterated an “outperform” rating and set a $60.00 target price on shares of Nutrien in a research report on Friday, September 20th. HSBC lowered shares of Nutrien from a “hold” rating to a “reduce” rating in a research note on Friday, August 2nd. TD Securities reduced their price target on shares of Nutrien from $69.00 to $67.00 and set a “buy” rating on the stock in a research note on Thursday, August 1st. Finally, Scotiabank lowered their price objective on shares of Nutrien from $66.00 to $59.00 and set a “sector outperform” rating for the company in a research report on Monday, August 12th. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $61.50.

Nutrien Stock Down 1.0 %

Shares of NTR opened at $47.20 on Tuesday. The company has a quick ratio of 0.82, a current ratio of 1.26 and a debt-to-equity ratio of 0.37. The business has a fifty day moving average of $47.88 and a 200 day moving average of $51.78. The company has a market cap of $23.36 billion, a PE ratio of 27.60, a P/E/G ratio of 1.55 and a beta of 0.82. Nutrien has a 52-week low of $44.65 and a 52-week high of $63.60.

Nutrien (NYSE:NTR) last released its quarterly earnings results on Wednesday, August 7th. The company reported $2.34 EPS for the quarter, topping analysts’ consensus estimates of $2.19 by $0.15. Nutrien had a net margin of 2.97% and a return on equity of 6.91%. The firm had revenue of $10.16 billion during the quarter, compared to analysts’ expectations of $10.82 billion. During the same period in the previous year, the company earned $2.53 EPS. The firm’s revenue for the quarter was down 12.9% compared to the same quarter last year. On average, sell-side analysts expect that Nutrien will post 3.83 EPS for the current year.

Hedge Funds Weigh In On Nutrien

A number of large investors have recently made changes to their positions in NTR. Silchester International Investors LLP increased its holdings in Nutrien by 211.6% in the 2nd quarter. Silchester International Investors LLP now owns 4,041,167 shares of the company’s stock worth $205,736,000 after buying an additional 2,744,213 shares during the period. ARGA Investment Management LP increased its stake in shares of Nutrien by 120.2% in the first quarter. ARGA Investment Management LP now owns 3,780,881 shares of the company’s stock worth $205,421,000 after acquiring an additional 2,063,881 shares during the period. TD Asset Management Inc lifted its position in Nutrien by 28.6% during the fourth quarter. TD Asset Management Inc now owns 9,226,352 shares of the company’s stock valued at $522,309,000 after purchasing an additional 2,050,358 shares during the period. Parnassus Investments LLC boosted its holdings in Nutrien by 19.5% in the fourth quarter. Parnassus Investments LLC now owns 12,017,181 shares of the company’s stock valued at $676,928,000 after purchasing an additional 1,960,162 shares during the last quarter. Finally, Bank of Montreal Can grew its position in Nutrien by 15.5% during the 2nd quarter. Bank of Montreal Can now owns 13,354,385 shares of the company’s stock worth $719,668,000 after purchasing an additional 1,794,333 shares during the period. 63.10% of the stock is owned by institutional investors and hedge funds.

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.