The Goldman Sachs Group Downgrades Nutrien (NYSE:NTR) to Neutral

Nutrien (NYSE:NTR) was downgraded by equities researchers at The Goldman Sachs Group from a “buy” rating to a “neutral” rating in a report released on Tuesday, MarketBeat reports. They currently have a $53.00 price target on the stock, down from their prior price target of $69.00. The Goldman Sachs Group’s price objective would suggest a potential upside of 16.08% from the stock’s current price.

A number of other equities research analysts have also recently commented on NTR. Piper Sandler reduced their target price on shares of Nutrien from $56.00 to $55.00 and set an “underweight” rating for the company in a report on Tuesday, June 11th. Wells Fargo & Company dropped their target price on Nutrien from $68.00 to $66.00 and set an “overweight” rating on the stock in a report on Tuesday, July 16th. Barclays decreased their price target on Nutrien from $68.00 to $55.00 and set an “overweight” rating for the company in a report on Friday, August 16th. Royal Bank of Canada reiterated an “outperform” rating and issued a $60.00 price objective on shares of Nutrien in a research report on Monday, August 12th. Finally, UBS Group cut their price objective on shares of Nutrien from $67.00 to $66.00 and set a “buy” rating for the company in a research report on Tuesday, July 9th. Three analysts have rated the stock with a sell rating, four have given a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $62.39.

Nutrien Trading Up 0.9 %

NTR opened at $45.66 on Tuesday. The stock has a market capitalization of $22.59 billion, a PE ratio of 26.70, a P/E/G ratio of 1.54 and a beta of 0.82. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.82 and a current ratio of 1.26. Nutrien has a one year low of $44.65 and a one year high of $65.00. The business’s 50 day moving average price is $48.36 and its 200 day moving average price is $52.13.

Nutrien (NYSE:NTR) last announced its earnings results on Wednesday, August 7th. The company reported $2.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.19 by $0.15. Nutrien had a return on equity of 6.91% and a net margin of 2.97%. The company had revenue of $10.16 billion for the quarter, compared to analyst estimates of $10.82 billion. During the same quarter in the previous year, the company earned $2.53 earnings per share. The firm’s quarterly revenue was down 12.9% compared to the same quarter last year. As a group, equities research analysts expect that Nutrien will post 3.77 EPS for the current year.

Hedge Funds Weigh In On Nutrien

Hedge funds have recently bought and sold shares of the business. Sanctuary Advisors LLC acquired a new position in shares of Nutrien during the 2nd quarter valued at about $2,184,000. Clearbridge Investments LLC grew its holdings in Nutrien by 21.9% during the second quarter. Clearbridge Investments LLC now owns 882,591 shares of the company’s stock valued at $44,937,000 after purchasing an additional 158,324 shares during the last quarter. Pathway Financial Advisers LLC raised its position in shares of Nutrien by 2.8% in the second quarter. Pathway Financial Advisers LLC now owns 27,804 shares of the company’s stock valued at $1,413,000 after purchasing an additional 758 shares during the period. Northwestern Mutual Wealth Management Co. lifted its stake in shares of Nutrien by 4.6% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 22,825 shares of the company’s stock worth $1,162,000 after buying an additional 1,000 shares during the last quarter. Finally, Creative Planning boosted its holdings in shares of Nutrien by 1.3% during the 2nd quarter. Creative Planning now owns 36,051 shares of the company’s stock worth $1,835,000 after buying an additional 451 shares during the period. 63.10% of the stock is owned by institutional investors and hedge funds.

Nutrien Company Profile

Nutrien Ltd. provides crop inputs and services. The company operates through four segments: Retail, Potash, Nitrogen, and Phosphate. The Retail segment distributes crop nutrients, crop protection products, seeds, and merchandise products. The Potash segment provides granular and standard potash products.