Wells Fargo & Company Lowers Nutrien (NYSE:NTR) to Equal Weight

Nutrien (NYSE:NTR) was downgraded by research analysts at Wells Fargo & Company from an “overweight” rating to an “equal weight” rating in a research note issued on Tuesday, Briefing.com reports. They presently have a $50.00 target price on the stock, down from their prior target price of $62.00. Wells Fargo & Company‘s target price would suggest a potential upside of 5.31% from the stock’s previous close.

Other research analysts have also recently issued reports about the company. Piper Sandler lowered their price objective on Nutrien from $56.00 to $55.00 and set an “underweight” rating for the company in a research report on Tuesday, June 11th. TD Securities dropped their price target on shares of Nutrien from $69.00 to $67.00 and set a “buy” rating on the stock in a research note on Thursday, August 1st. Barclays reduced their price objective on shares of Nutrien from $68.00 to $55.00 and set an “overweight” rating for the company in a research report on Friday, August 16th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $60.00 target price on shares of Nutrien in a research report on Friday. Finally, UBS Group reduced their price target 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, five have given a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $61.50.

Nutrien Trading Up 0.9 %

NYSE:NTR opened at $47.48 on Tuesday. Nutrien has a 12-month low of $44.65 and a 12-month high of $63.60. The firm has a market cap of $23.49 billion, a PE ratio of 27.77, a price-to-earnings-growth ratio of 1.53 and a beta of 0.82. The company has a current ratio of 1.26, a quick ratio of 0.82 and a debt-to-equity ratio of 0.37. The stock has a fifty day moving average price of $47.95 and a 200 day moving average price of $51.81.

Nutrien (NYSE:NTR) last announced its quarterly earnings data on Wednesday, August 7th. The company reported $2.34 EPS for the quarter, topping analysts’ consensus estimates of $2.19 by $0.15. The business had revenue of $10.16 billion during the quarter, compared to the consensus estimate of $10.82 billion. Nutrien had a return on equity of 6.91% and a net margin of 2.97%. The business’s revenue for the quarter was down 12.9% on a year-over-year basis. During the same period in the previous year, the company posted $2.53 earnings per share. Sell-side analysts anticipate that Nutrien will post 3.81 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Family Firm Inc. acquired a new stake in Nutrien in the 2nd quarter valued at about $32,000. GoalVest Advisory LLC purchased a new position in shares of Nutrien during the 1st quarter worth approximately $35,000. Trust Co. of Vermont raised its position in shares of Nutrien by 50.0% during the 2nd quarter. Trust Co. of Vermont now owns 900 shares of the company’s stock worth $46,000 after purchasing an additional 300 shares during the last quarter. Covestor Ltd lifted its stake in Nutrien by 33.3% in the 1st quarter. Covestor Ltd now owns 932 shares of the company’s stock valued at $50,000 after buying an additional 233 shares in the last quarter. Finally, Andra AP fonden acquired a new stake in Nutrien during the 2nd quarter valued at $51,000. Hedge funds and other institutional investors own 63.10% of the company’s stock.

About Nutrien

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.