Nutrien (NYSE:NTR) Upgraded by Piper Sandler to “Overweight” Rating

Nutrien (NYSE:NTR) was upgraded by research analysts at Piper Sandler from an “underweight” rating to an “overweight” rating in a research report issued to clients and investors on Monday. The firm presently has a $58.00 price target on the stock, up from their previous price target of $50.00. Piper Sandler’s target price would indicate a potential upside of 19.69% from the company’s current price.

A number of other research firms also recently weighed in on NTR. Raymond James upgraded Nutrien from a “market perform” rating to an “outperform” rating and upped their target price for the company from $58.00 to $60.00 in a research report on Tuesday, December 3rd. Wells Fargo & Company downgraded Nutrien from an “overweight” rating to an “equal weight” rating and cut their target price for the company from $62.00 to $50.00 in a research report on Tuesday, September 24th. UBS Group downgraded Nutrien from a “buy” rating to a “neutral” rating and cut their target price for the company from $66.00 to $51.00 in a research report on Thursday, October 10th. JPMorgan Chase & Co. upgraded Nutrien from an “underweight” rating to a “neutral” rating and upped their target price for the company from $40.00 to $50.00 in a research report on Monday. Finally, TD Securities cut their target price on Nutrien from $63.00 to $61.00 and set a “buy” rating for the company in a research report on Tuesday, November 12th. One analyst has rated the stock with a sell rating, five have issued a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $59.21.

Nutrien Stock Performance

Shares of NYSE NTR opened at $48.46 on Monday. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.27 and a quick ratio of 0.82. The stock’s fifty day moving average price is $46.87 and its two-hundred day moving average price is $47.85. Nutrien has a one year low of $43.69 and a one year high of $60.87. The firm has a market cap of $23.86 billion, a price-to-earnings ratio of 32.52, a P/E/G ratio of 1.73 and a beta of 0.81.

Nutrien (NYSE:NTR) last issued its quarterly earnings data on Wednesday, November 6th. The company reported $0.39 EPS for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.04). The firm had revenue of $5.35 billion during the quarter, compared to analyst estimates of $5.26 billion. Nutrien had a net margin of 2.79% and a return on equity of 6.99%. The business’s quarterly revenue was down 5.0% compared to the same quarter last year. During the same period in the prior year, the company earned $0.35 earnings per share. On average, equities analysts forecast that Nutrien will post 3.5 EPS for the current year.

Hedge Funds Weigh In On Nutrien

Large investors have recently bought and sold shares of the company. Goodman Financial Corp raised its position in Nutrien by 4.6% in the third quarter. Goodman Financial Corp now owns 253,860 shares of the company’s stock valued at $12,201,000 after purchasing an additional 11,058 shares during the last quarter. CORDA Investment Management LLC. increased its stake in shares of Nutrien by 7.0% in the third quarter. CORDA Investment Management LLC. now owns 494,745 shares of the company’s stock valued at $23,777,000 after buying an additional 32,541 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of Nutrien by 10.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,742,351 shares of the company’s stock valued at $83,812,000 after buying an additional 157,932 shares during the period. Cardinal Capital Management Inc. increased its stake in shares of Nutrien by 4.3% in the third quarter. Cardinal Capital Management Inc. now owns 564,078 shares of the company’s stock valued at $27,139,000 after buying an additional 23,117 shares during the period. Finally, Stephens Inc. AR increased its stake in shares of Nutrien by 335.0% in the third quarter. Stephens Inc. AR now owns 70,301 shares of the company’s stock valued at $3,379,000 after buying an additional 54,138 shares during the period. 63.10% of the stock is currently owned by 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.