Bank of America Forecasts Strong Price Appreciation for Nutrien (NYSE:NTR) Stock

Nutrien (NYSE:NTR) had its price objective raised by Bank of America from $75.00 to $81.00 in a research report issued on Wednesday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Bank of America‘s price target would suggest a potential upside of 3.43% from the stock’s current price.

NTR has been the subject of several other reports. Mizuho increased their price objective on Nutrien from $65.00 to $68.00 and gave the company a “neutral” rating in a research report on Friday, January 16th. Barclays increased their price target on shares of Nutrien from $70.00 to $80.00 and gave the company an “equal weight” rating in a report on Tuesday, March 3rd. JPMorgan Chase & Co. raised their price target on shares of Nutrien from $68.00 to $78.00 and gave the stock an “overweight” rating in a research report on Friday, February 20th. Zacks Research lowered shares of Nutrien from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 2nd. Finally, Raymond James Financial increased their target price on shares of Nutrien from $68.00 to $74.00 and gave the company a “market perform” rating in a research note on Friday, February 20th. Eleven investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Nutrien presently has a consensus rating of “Hold” and an average price target of $77.11.

Nutrien Stock Performance

NTR stock traded down $1.24 during mid-day trading on Wednesday, reaching $78.31. 1,142,210 shares of the stock traded hands, compared to its average volume of 3,508,463. The firm has a market capitalization of $37.68 billion, a PE ratio of 16.82 and a beta of 0.70. The business has a 50-day moving average of $70.89 and a two-hundred day moving average of $62.96. Nutrien has a 52 week low of $45.78 and a 52 week high of $85.36. The company has a quick ratio of 0.70, a current ratio of 1.34 and a debt-to-equity ratio of 0.37.

Nutrien (NYSE:NTR) last announced its earnings results on Wednesday, February 18th. The company reported $0.83 earnings per share for the quarter, missing the consensus estimate of $0.87 by ($0.04). The business had revenue of $5.12 billion for the quarter, compared to the consensus estimate of $5.26 billion. Nutrien had a net margin of 8.43% and a return on equity of 8.41%. Nutrien’s revenue for the quarter was up 5.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.31 EPS. As a group, equities analysts predict that Nutrien will post 3.72 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Montag A & Associates Inc. raised its position in Nutrien by 310.7% in the 4th quarter. Montag A & Associates Inc. now owns 423 shares of the company’s stock worth $26,000 after purchasing an additional 320 shares during the last quarter. Root Financial Partners LLC bought a new stake in shares of Nutrien during the third quarter worth $37,000. Sfam LLC acquired a new position in shares of Nutrien during the fourth quarter valued at $37,000. Eastern Bank lifted its stake in shares of Nutrien by 133.0% during the fourth quarter. Eastern Bank now owns 699 shares of the company’s stock valued at $43,000 after acquiring an additional 399 shares during the period. Finally, Harbour Investments Inc. boosted its holdings in Nutrien by 97.2% in the fourth quarter. Harbour Investments Inc. now owns 704 shares of the company’s stock valued at $43,000 after acquiring an additional 347 shares during the last quarter. Institutional investors own 63.10% of the company’s stock.

About Nutrien

Nutrien Ltd. is a global fertilizer and agricultural-services company headquartered in Saskatoon, Saskatchewan, Canada. The company is publicly traded and operates across the farm input value chain, combining upstream fertilizer production with a broad retail and services platform aimed at supporting crop production worldwide. Nutrien’s business model integrates the manufacture and distribution of crop nutrients with on-the-ground agronomic support for growers and agricultural businesses.

Nutrien produces and supplies the three primary fertilizer nutrients—potash, nitrogen and phosphate—through its wholesale operations, and markets a wide range of crop inputs including seeds and crop protection products.