Canadian Imperial Bank of Commerce Issues Positive Forecast for Nutrien (NYSE:NTR) Stock Price

Nutrien (NYSE:NTR) had its target price boosted by equities researchers at Canadian Imperial Bank of Commerce from $81.00 to $90.00 in a research report issued on Tuesday,Benzinga reports. The brokerage presently has an “outperformer” rating on the stock. Canadian Imperial Bank of Commerce’s price objective suggests a potential upside of 13.34% from the stock’s previous close.

NTR has been the subject of several other research reports. UBS Group increased their target price on shares of Nutrien from $58.00 to $63.00 and gave the stock a “neutral” rating in a research note on Monday, January 12th. Royal Bank Of Canada boosted their target price on Nutrien from $75.00 to $80.00 and gave the company an “outperform” rating in a report on Monday, February 23rd. Wall Street Zen downgraded Nutrien from a “buy” rating to a “hold” rating in a report on Saturday, February 28th. Wells Fargo & Company upgraded shares of Nutrien from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $77.00 to $100.00 in a research report on Friday. Finally, Zacks Research cut shares of Nutrien from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 2nd. Eleven investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Nutrien has a consensus rating of “Hold” and an average target price of $76.28.

Nutrien Stock Up 2.1%

Shares of NYSE NTR traded up $1.62 during midday trading on Tuesday, hitting $79.41. 2,044,362 shares of the company’s stock were exchanged, compared to its average volume of 3,526,981. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.34 and a quick ratio of 0.70. Nutrien has a twelve month low of $45.78 and a twelve month high of $85.36. The firm’s fifty day simple moving average is $70.51 and its 200-day simple moving average is $62.80. The company has a market cap of $38.21 billion, a PE ratio of 17.06 and a beta of 0.70.

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

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Guggenheim Capital LLC raised its position in shares of Nutrien by 2.2% in the 4th quarter. Guggenheim Capital LLC now owns 6,628 shares of the company’s stock valued at $409,000 after purchasing an additional 145 shares in the last quarter. Minot DeBlois Advisors LLC lifted its position in Nutrien by 1.8% in the 4th quarter. Minot DeBlois Advisors LLC now owns 9,032 shares of the company’s stock valued at $557,000 after purchasing an additional 164 shares during the last quarter. Smith Moore & CO. grew its position in Nutrien by 2.2% in the 3rd quarter. Smith Moore & CO. now owns 7,642 shares of the company’s stock valued at $449,000 after buying an additional 168 shares in the last quarter. EverSource Wealth Advisors LLC raised its position in shares of Nutrien by 21.8% during the 4th quarter. EverSource Wealth Advisors LLC now owns 983 shares of the company’s stock worth $61,000 after buying an additional 176 shares in the last quarter. Finally, Cascade Investment Advisors Inc. raised its holdings in Nutrien by 0.6% during the third quarter. Cascade Investment Advisors Inc. now owns 30,855 shares of the company’s stock worth $1,811,000 after purchasing an additional 185 shares in the last quarter. Hedge funds and other institutional investors own 63.10% of the company’s stock.

Nutrien Company Profile

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.