Nutrien (NTR) Downgraded to “Hold” at Zacks Investment Research
Nutrien (NYSE:NTR) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Saturday.
According to Zacks, “Nutrien Ltd. produces and sells fertilizers and related industrial and feed products. The company’s products primarily include standard and granular potash; diammonium phosphate, monoammonium phosphate and phosphoric acid and ammonia, urea, nitric acid, ammonium nitrate and nitrogen solutions, as well as purified acids and phosphate feed products. Nutrien Ltd., formerly known as Potash Corporation of Saskatchewan Inc., is headquartered in Saskatoon, Canada. “
Several other brokerages have also commented on NTR. BMO Capital Markets restated a “hold” rating and issued a $54.00 price objective on shares of Nutrien in a report on Friday, August 3rd. ValuEngine upgraded shares of Nutrien from a “hold” rating to a “buy” rating in a report on Tuesday, June 26th. TD Securities lowered shares of Nutrien from a “buy” rating to a “hold” rating and upped their price objective for the stock from $60.00 to $63.00 in a report on Friday, August 3rd. Cowen upped their price objective on shares of Nutrien from $63.00 to $70.00 and gave the stock an “outperform” rating in a report on Thursday, August 9th. Finally, Citigroup upped their price objective on shares of Nutrien from $56.00 to $62.00 and gave the stock a “buy” rating in a report on Wednesday, July 11th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $61.13.
Nutrien (NYSE:NTR) last issued its quarterly earnings data on Wednesday, August 1st. The company reported $1.48 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.40 by $0.08. Nutrien had a net margin of 9.83% and a return on equity of 10.27%. The business had revenue of $8.15 billion during the quarter, compared to analyst estimates of $7.70 billion. The firm’s revenue for the quarter was up 10.8% compared to the same quarter last year. sell-side analysts anticipate that Nutrien will post 2.49 EPS for the current year.
Several institutional investors have recently modified their holdings of NTR. Global X Management Co. LLC bought a new position in shares of Nutrien in the 1st quarter worth about $1,397,000. Fort Washington Investment Advisors Inc. OH purchased a new stake in Nutrien during the 1st quarter valued at about $52,228,000. Wasatch Advisors Inc. purchased a new stake in Nutrien during the 1st quarter valued at about $2,127,000. FDx Advisors Inc. purchased a new stake in Nutrien during the 1st quarter valued at about $1,718,000. Finally, Wells Fargo & Company MN purchased a new stake in Nutrien during the 1st quarter valued at about $120,297,000. Institutional investors own 64.62% of the company’s stock.
Nutrien Ltd. produces and markets crop nutrients worldwide. The company offers potash, nitrogen, phosphate, and solid and liquid phosphate fertilizers; and phosphate feed, ammonium sulfate, and industrial acid products. It also retails seeds, crop protection and crop nutrient products, merchandise products, and agronomic services through operating 1,500 retail locations.
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