CF Industries (NYSE:CF) Stock Gets Price Target Boost from Royal Bank Of Canada

CF Industries (NYSE:CF) had its price target lifted by research analysts at Royal Bank Of Canada from $115.00 to $125.00 in a research report issued to clients and investors on Monday, Benzinga reports. The brokerage presently has a “sector perform” rating on the basic materials company’s stock. Royal Bank Of Canada‘s target price points to a potential upside of 4.69% from the company’s current price.

CF has been the subject of several other research reports. UBS Group lifted their target price on CF Industries from $123.00 to $134.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 27th. Wall Street Zen downgraded CF Industries from a “buy” rating to a “hold” rating in a report on Saturday, July 18th. Freedom Broker reduced their target price on CF Industries from $133.00 to $129.00 and set a “hold” rating for the company in a report on Monday, November 2nd. Truist Financial set a $129.00 price target on CF Industries in a research report on Monday, November 2nd. Finally, Sanford C. Bernstein began coverage on CF Industries in a research note on Friday, September 25th. They issued an “outperform” rating and a $162.00 price target on the stock. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, twelve have given a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, CF Industries has a consensus rating of “Hold” and an average price target of $123.15.

CF Industries Stock Up 0.0%

NYSE:CF opened at $119.40 on Monday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 2.68 and a current ratio of 2.98. The company has a market capitalization of $18.07 billion, a price-to-earnings ratio of 8.43, a price-to-earnings-growth ratio of 0.24 and a beta of 0.54. CF Industries has a one year low of $75.42 and a one year high of $141.96. The stock has a 50-day simple moving average of $122.45 and a 200 day simple moving average of $116.74.

CF Industries (NYSE:CF) last announced its quarterly earnings data on Wednesday, November 4th. The basic materials company reported $2.87 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.00 by ($0.13). CF Industries had a net margin of 27.48% and a return on equity of 24.52%. The firm had revenue of $1.86 billion for the quarter, compared to analyst estimates of $1.77 billion. During the same quarter in the previous year, the company earned $2.19 EPS. The company’s quarterly revenue was up 12.1% compared to the same quarter last year. Sell-side analysts predict that CF Industries will post 13.68 EPS for the current fiscal year.

Hedge Funds Weigh In On CF Industries

Several institutional investors and hedge funds have recently added to or reduced their stakes in CF. BlackRock Inc. acquired a new stake in shares of CF Industries in the second quarter worth $1,410,607,000. Bank of New York Mellon Corp purchased a new position in shares of CF Industries during the second quarter valued at $198,857,000. Bank of America Corp DE purchased a new position in shares of CF Industries during the second quarter valued at $186,353,000. Deutsche Bank AG acquired a new position in CF Industries during the second quarter valued at $157,850,000. Finally, Assenagon Asset Management S.A. raised its position in CF Industries by 407.5% during the third quarter. Assenagon Asset Management S.A. now owns 1,352,013 shares of the basic materials company’s stock valued at $170,136,000 after buying an additional 1,085,612 shares during the period. 93.06% of the stock is currently owned by hedge funds and other institutional investors.

About CF Industries

CF Industries Holdings, Inc is a producer and distributor of nitrogen fertilizer and related products. Its main offerings include ammonia, granular urea, urea ammonium nitrate (UAN) and ammonium nitrate, which are used primarily to support crop production. The company also supplies nitrogen products for industrial applications, including emissions control and chemical manufacturing.

Founded in 1946 as the Central Farmers Fertilizer Company, CF Industries grew from a cooperative serving agricultural retailers into a major nitrogen producer.