Freedom Broker Begins Coverage on Nutrien (NYSE:NTR)

Research analysts at Freedom Broker assumed coverage on shares of Nutrien (NYSE:NTR) in a research report issued to clients and investors on Tuesday, Benzinga reports. The firm set a “hold” rating and a $78.00 price target on the stock. Freedom Broker‘s price target would suggest a potential upside of 12.69% from the stock’s current price.

Other equities analysts also recently issued research reports about the company. Oppenheimer lowered their price target on Nutrien from $80.00 to $78.00 and set an “outperform” rating on the stock in a research report on Thursday, October 22nd. Morgan Stanley reduced their price target on shares of Nutrien from $93.00 to $81.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 7th. Jefferies Financial Group restated a “hold” rating and set a $71.00 price target on shares of Nutrien in a research note on Monday, October 12th. National Bank Financial decreased their target price on Nutrien from $76.00 to $74.00 and set an “outperform” rating for the company in a report on Monday, August 10th. Finally, Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of Nutrien in a report on Monday, August 10th. Sixteen equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $79.71.

Nutrien Price Performance

NTR stock traded up $0.99 during trading on Tuesday, hitting $69.21. 755,365 shares of the company’s stock traded hands, compared to its average volume of 3,040,292. The stock has a market capitalization of $32.96 billion, a price-to-earnings ratio of 14.01, a P/E/G ratio of 0.76 and a beta of 0.68. Nutrien has a 52 week low of $53.03 and a 52 week high of $85.36. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.86 and a current ratio of 1.39. The business has a fifty day simple moving average of $73.24 and a 200 day simple moving average of $70.75.

Nutrien (NYSE:NTR) last announced its earnings results on Wednesday, August 5th. The company reported $2.61 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.70 by ($0.09). Nutrien had a net margin of 8.44% and a return on equity of 8.88%. The business had revenue of $10.81 billion for the quarter, compared to analysts’ expectations of $10.44 billion. During the same quarter last year, the firm earned $2.65 EPS. The firm’s quarterly revenue was up 3.6% on a year-over-year basis. As a group, research analysts expect that Nutrien will post 4.56 EPS for the current fiscal year.

Hedge Funds Weigh In On Nutrien

Several large investors have recently added to or reduced their stakes in the business. Wellington Management Group LLP acquired a new stake in shares of Nutrien during the 2nd quarter worth $654,081,000. Deutsche Bank AG acquired a new position in shares of Nutrien during the 2nd quarter valued at $588,720,000. The Manufacturers Life Insurance Company purchased a new position in Nutrien in the second quarter valued at about $375,178,000. Canada Pension Plan Investment Board acquired a new stake in Nutrien in the second quarter valued at approximately $359,318,000. Finally, BlackRock Inc. purchased a new position in Nutrien in the 2nd quarter valued at about $220,942,000. 63.10% of the stock is currently owned by hedge funds and other institutional investors.

About Nutrien