Nutrien (NYSE:NTR) Lifted to “Neutral” at Bank of America

Nutrien (NYSE:NTR) was upgraded by analysts at Bank of America from an “underperform” rating to a “neutral” rating in a report released on Friday, The Fly reports.

NTR has been the subject of several other reports. Raymond James restated a “strong-buy” rating and set a $70.00 price target on shares of Nutrien in a report on Tuesday, July 30th. TD Securities raised their price target on Nutrien from $68.00 to $69.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. BMO Capital Markets set a $60.00 price target on Nutrien and gave the company a “buy” rating in a report on Wednesday, July 31st. Citigroup set a $61.00 price target on Nutrien and gave the company a “buy” rating in a report on Wednesday, July 31st. Finally, Cowen restated an “outperform” rating and set a $63.00 price target (down from $66.00) on shares of Nutrien in a report on Tuesday, April 23rd. Six investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $62.00.

Shares of NYSE:NTR opened at $48.84 on Friday. Nutrien has a 1-year low of $43.96 and a 1-year high of $58.99. The business has a fifty day moving average price of $51.89 and a 200-day moving average price of $52.40. The company has a market capitalization of $28.76 billion, a PE ratio of 18.16, a PEG ratio of 2.21 and a beta of 0.87.

Nutrien (NYSE:NTR) last issued its quarterly earnings results on Monday, July 29th. The company reported $1.58 earnings per share for the quarter, missing the consensus estimate of $1.59 by ($0.01). The firm had revenue of $8.66 billion during the quarter, compared to analysts’ expectations of $8.17 billion. During the same period in the previous year, the firm earned $1.48 EPS. Nutrien’s quarterly revenue was up 6.8% on a year-over-year basis. On average, analysts expect that Nutrien will post 2.85 EPS for the current year.

A number of large investors have recently made changes to their positions in NTR. Beutel Goodman & Co Ltd. lifted its position in shares of Nutrien by 5.7% during the 2nd quarter. Beutel Goodman & Co Ltd. now owns 13,435,410 shares of the company’s stock valued at $718,661,000 after buying an additional 718,508 shares in the last quarter. Boston Partners lifted its position in shares of Nutrien by 39.4% during the 1st quarter. Boston Partners now owns 12,584,872 shares of the company’s stock valued at $663,978,000 after buying an additional 3,556,556 shares in the last quarter. Invesco Ltd. lifted its position in shares of Nutrien by 0.7% during the 2nd quarter. Invesco Ltd. now owns 10,145,011 shares of the company’s stock valued at $542,352,000 after buying an additional 66,593 shares in the last quarter. Mackenzie Financial Corp lifted its position in shares of Nutrien by 11.3% during the 2nd quarter. Mackenzie Financial Corp now owns 8,580,722 shares of the company’s stock valued at $458,725,000 after buying an additional 872,389 shares in the last quarter. Finally, Schroder Investment Management Group lifted its position in shares of Nutrien by 1.4% during the 2nd quarter. Schroder Investment Management Group now owns 8,319,990 shares of the company’s stock valued at $552,612,000 after buying an additional 117,187 shares in the last quarter. 68.37% of the stock is currently owned by institutional investors and hedge funds.

About Nutrien

Nutrien Ltd. produces and markets crop nutrients to agricultural, industrial, and feed customers worldwide. It operates in four segments: Retail, Potash, Nitrogen, and Phosphate and Sulfate. The company offers potash, nitrogen, phosphate, and sulfate products. It also distributes crop nutrients, crop protection products, seeds, and merchandise products through operating 1,700 retail locations.

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