Zacks Investment Research Downgrades Nutrien (NTR) to Hold

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Nutrien (NYSE:NTR) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors 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 analysts have also recently issued reports on NTR. BMO Capital Markets reaffirmed a “hold” rating and set a $54.00 price objective on shares of Nutrien in a research note on Friday, August 3rd. ValuEngine raised shares of Nutrien from a “hold” rating to a “buy” rating in a research note on Tuesday, June 26th. Raymond James upped their price objective on shares of Nutrien from $65.00 to $67.00 and gave the company a “strong-buy” rating in a research note on Friday, August 3rd. Cowen upped their price objective on shares of Nutrien from $63.00 to $70.00 and gave the company an “outperform” rating in a research note on Thursday. Finally, TD Securities cut shares of Nutrien from a “buy” rating to a “hold” rating and upped their price objective for the company from $60.00 to $63.00 in a research note on Friday, August 3rd. One analyst has rated the stock with a sell rating, eight have given a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Nutrien presently has an average rating of “Buy” and an average target price of $61.00.

Shares of Nutrien opened at $57.06 on Friday, according to Marketbeat Ratings. Nutrien has a 12-month low of $40.41 and a 12-month high of $58.70. The stock has a market cap of $36.02 billion, a P/E ratio of 46.44, a price-to-earnings-growth ratio of 1.69 and a beta of 0.67. The company has a debt-to-equity ratio of 0.45, a current ratio of 2.07 and a quick ratio of 1.58.

Nutrien (NYSE:NTR) last announced its quarterly earnings data on Wednesday, August 1st. The company reported $1.48 earnings per share (EPS) for the quarter, beating the 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 company had revenue of $8.15 billion during the quarter, compared to analysts’ expectations of $7.70 billion. The company’s quarterly revenue was up 10.8% on a year-over-year basis. equities analysts forecast that Nutrien will post 2.49 earnings per share for the current year.

Institutional investors have recently bought and sold shares of the company. Whittier Trust Co. grew its stake in shares of Nutrien by 253.2% in the 2nd quarter. Whittier Trust Co. now owns 2,790 shares of the company’s stock valued at $152,000 after buying an additional 2,000 shares during the period. Bessemer Group Inc. acquired a new position in shares of Nutrien in the 2nd quarter worth approximately $161,000. Huntington National Bank acquired a new position in shares of Nutrien in the 2nd quarter worth approximately $199,000. Lapides Asset Management LLC acquired a new position in shares of Nutrien in the 2nd quarter worth approximately $200,000. Finally, DeDora Capital Inc. acquired a new position in shares of Nutrien in the 2nd quarter worth approximately $203,000. 63.79% of the stock is owned by institutional investors and hedge funds.

Nutrien Company Profile

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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