Nutrien (NTR) Price Target Increased to $66.00 by Analysts at Macquarie

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Nutrien (NYSE:NTR) had its price target raised by analysts at Macquarie from $59.00 to $66.00 in a research note issued on Friday, Stock Target Advisor reports. The brokerage presently has an “outperform” rating on the stock. Macquarie’s price objective would indicate a potential upside of 22.06% from the stock’s previous close.

Other equities research analysts also recently issued research reports about the stock. TD Securities downgraded shares of Nutrien from a “buy” rating to a “hold” rating and lifted their price target for the stock from $60.00 to $63.00 in a research note on Friday, August 3rd. Zacks Investment Research raised shares of Nutrien from a “hold” rating to a “buy” rating and set a $61.00 price target on the stock in a research note on Thursday, August 2nd. Scotiabank reaffirmed a “buy” rating and set a $65.00 price target on shares of Nutrien in a research note on Friday, August 3rd. Stephens set a $64.00 price target on shares of Nutrien and gave the stock a “buy” rating in a research note on Monday, August 6th. Finally, ValuEngine raised shares of Nutrien from a “hold” rating to a “buy” rating in a research note on Tuesday, June 26th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $62.12.

Shares of NTR stock opened at $54.07 on Friday. Nutrien has a 52 week low of $40.41 and a 52 week high of $58.99.

Nutrien (NYSE:NTR) last issued its earnings results on Wednesday, August 1st. The company reported $1.48 EPS for the quarter, beating the Zacks’ 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 for the quarter, compared to the consensus estimate of $7.70 billion. The business’s quarterly revenue was up 10.8% on a year-over-year basis. Sell-side analysts expect that Nutrien will post 2.55 EPS for the current year.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Boston Partners increased its position in shares of Nutrien by 6.1% in the 2nd quarter. Boston Partners now owns 8,687,741 shares of the company’s stock worth $472,439,000 after purchasing an additional 496,801 shares during the last quarter. TD Asset Management Inc. increased its position in shares of Nutrien by 4.1% in the 2nd quarter. TD Asset Management Inc. now owns 8,335,145 shares of the company’s stock worth $453,179,000 after purchasing an additional 331,876 shares during the last quarter. CIBC Asset Management Inc increased its position in shares of Nutrien by 2.0% in the 2nd quarter. CIBC Asset Management Inc now owns 6,991,400 shares of the company’s stock worth $380,417,000 after purchasing an additional 140,099 shares during the last quarter. Great West Life Assurance Co. Can increased its position in shares of Nutrien by 1.9% in the 2nd quarter. Great West Life Assurance Co. Can now owns 5,110,815 shares of the company’s stock worth $278,927,000 after purchasing an additional 95,380 shares during the last quarter. Finally, Toronto Dominion Bank increased its position in shares of Nutrien by 177.3% in the 2nd quarter. Toronto Dominion Bank now owns 3,677,431 shares of the company’s stock worth $200,088,000 after purchasing an additional 2,351,420 shares during the last quarter. 66.34% of the stock is owned by institutional investors.

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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