Nutrien (NYSE:NTR) Rating Increased to Overweight at Piper Sandler

Nutrien (NYSE:NTR - Get Free Report) was upgraded by equities research analysts at Piper Sandler from an "underweight" rating to an "overweight" rating in a research report issued to clients and investors on Monday, MarketBeat.com reports. The brokerage currently has a $58.00 target price on the stock, up from their prior target price of $50.00. Piper Sandler's price target points to a potential upside of 13.30% from the stock's previous close.

A number of other research firms also recently issued reports on NTR. Wells Fargo & Company downgraded shares of 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. Royal Bank of Canada reiterated an "outperform" rating and issued a $60.00 price target on shares of Nutrien in a research report on Friday, September 20th. Raymond James upgraded shares of Nutrien from a "market perform" rating to an "outperform" rating and increased their price target for the company from $58.00 to $60.00 in a research report on Tuesday, December 3rd. JPMorgan Chase & Co. upgraded shares of Nutrien from an "underweight" rating to a "neutral" rating and increased their price target for the company from $40.00 to $50.00 in a research report on Monday. Finally, UBS Group downgraded shares of Nutrien from a "buy" rating to a "neutral" rating and cut their price target for the company from $66.00 to $51.00 in a research report on Thursday, October 10th. One analyst has rated the stock with a sell rating, five have issued a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $59.21.

Nutrien Price Performance

NYSE:NTR traded up $2.72 during mid-day trading on Monday, reaching $51.19. 3,855,762 shares of the company were exchanged, compared to its average volume of 2,576,988. The company has a quick ratio of 0.82, a current ratio of 1.27 and a debt-to-equity ratio of 0.38. Nutrien has a 12 month low of $43.69 and a 12 month high of $60.87. The stock has a market cap of $25.21 billion, a PE ratio of 34.36, a PEG ratio of 1.73 and a beta of 0.81. The company has a fifty day moving average of $46.87 and a 200 day moving average of $47.85.

Nutrien (NYSE:NTR - Get Free Report) last released its earnings results on Wednesday, November 6th. The company reported $0.39 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.43 by ($0.04). Nutrien had a net margin of 2.79% and a return on equity of 6.99%. The business 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 business's revenue for the quarter was down 5.0% on a year-over-year basis. On average, research analysts anticipate that Nutrien will post 3.5 EPS for the current fiscal year.

Hedge Funds Weigh In On Nutrien

Institutional investors have recently added to or reduced their stakes in the company. Central Pacific Bank Trust Division acquired a new position in Nutrien during the third quarter worth $28,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in Nutrien during the second quarter worth $52,000. Larson Financial Group LLC increased its holdings in Nutrien by 1,370.6% during 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 last quarter. EverSource Wealth Advisors LLC increased its holdings in Nutrien by 56.3% during the second quarter. EverSource Wealth Advisors LLC now owns 1,680 shares of the company's stock worth $86,000 after buying an additional 605 shares during the last quarter. Finally, Cromwell Holdings LLC increased its holdings in Nutrien by 113.4% during the third quarter. Cromwell Holdings LLC now owns 1,694 shares of the company's stock worth $82,000 after buying an additional 900 shares during the last quarter. 63.10% of the stock is currently 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.