Nutrien Ltd [NTR] Stock trading around $56.19 per share: What’s Next?

Nutrien Ltd [NYSE: NTR] gained 2.91% or 1.59 points to close at $56.19 with a heavy trading volume of 3446149 shares. The company report on March 25, 2024 at 11:00 AM that Nutrien to Host Investor Day on June 12.

Nutrien Ltd. (TSX and NYSE: NTR) announced today it is hosting an Investor Day in New York on June 12, 2024, at 10:00 a.m. ET.

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Nutrien’s Executive Leadership team will provide an update on the company’s outlook, strategic plans and capital allocation priorities.

The daily chart for NTR points out that the company has recorded -6.19% loss over the past six months.

If we look at the average trading volume of 2.06M shares, NTR reached to a volume of 3446149 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about Nutrien Ltd [NTR]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for NTR shares is $64.43 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on NTR stock is a recommendation set at 2.04. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Jefferies have made an estimate for Nutrien Ltd shares, keeping their opinion on the stock as Buy, with their previous recommendation back on March 26, 2024. While these analysts kept the previous recommendation, Wolfe Research raised their target price to Outperform. The new note on the price target was released on March 01, 2024, representing the official price target for Nutrien Ltd stock. Previously, the target price had yet another drop from $68 to $54, while Piper Sandler kept a Underweight rating on NTR stock. On February 23, 2024, analysts decreased their price target for NTR shares from 58 to 48.

The Average True Range (ATR) for Nutrien Ltd is set at 1.22, with the Price to Sales ratio for NTR stock in the period of the last 12 months amounting to 0.96. The Price to Book ratio for the last quarter was 1.10, with the Price to Cash per share for the same quarter was set at 1.90. Price to Free Cash Flow for NTR in the course of the last twelve months was 10.78 with Quick ratio for the last quarter at 0.65.

Trading performance analysis for NTR stock

Nutrien Ltd [NTR] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 5.90. With this latest performance, NTR shares gained by 10.26% in over the last four-week period, additionally sinking by -6.19% over the last 6 months – not to mention a drop of -23.91% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for NTR stock in for the last two-week period is set at 66.10, with the RSI for the last a single of trading hit 72.31, and the three-weeks RSI is set at 61.63 for Nutrien Ltd [NTR]. The present Moving Average for the last 50 days of trading for this stock 52.05, while it was recorded at 54.72 for the last single week of trading, and 57.43 for the last 200 days.

Nutrien Ltd [NTR]: A deeper dive into fundamental analysis

Nutrien Ltd’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.65 and a Current Ratio set at 1.17.

Nutrien Ltd [NTR]: An earnings per share (EPS) analysis

With the latest financial reports released by the company, Nutrien Ltd posted 1.11/share EPS, while the average EPS was predicted by analysts to be reported at 1.47/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -24.50%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for NTR.

An analysis of Institutional ownership at Nutrien Ltd [NTR]

The top three institutional holders of NTR stocks are: VANGUARD GROUP INC with ownership of 1.32 billion shares, which is approximately 8.4983%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $200.69 billion in NTR stocks shares; and BERKSHIRE HATHAWAY INC, currently with $174.35 billion in NTR stock with ownership which is approximately 5.8386%.