Nutrien Ltd. (NYSE:NTR) is among the top losers of the stock market today, sinking -2.53% or (-1.08 points) to $41.67 from its previous close of $42.75. Does this decline mean it the best stock to buy right now? The shares seem to have an active trading volume day with a reported 1018869 contracts so far this session. NTR shares had a relatively better volume day versus average trading capacity of 1.41 million shares, but with a 0.57 billion float and a -3.19% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for NTR stock indicates that the average analyst price target is $58.28 per share. This means the stock has a potential increase of 39.86% from where the NTR share price has been trading recently.
During the recent trading session for Nutrien Ltd. (NYSE:NTR), the company witnessed their stock drop by $-1.47 over a week and tumble down $-5.31 from the price 20 days ago. When compared to their established 52-week high of $56, the high they recorded in their recent session happens to be higher. Their established 52-week high was attained by the company on 02/27/19. The recent low of $41.77 stood for a -25.59% since 02/14/20, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of 0 is also allocated to the stock. Since the beta is less than one, it implies that the stock is more volatile than the market, a data that traders are keeping close attention to.
Looking at the current readings for Nutrien Ltd., the two-week RSI stands at 30.02. This figure suggests that NTR stock, for now, is neutral, meaning that the shares are stable in terms of price movement. The stochastic readings, on the other hand, based on the current NTR readings is similarly very revealing as it has a stochastic reading of 18.81% at this stage. This figure means that NTR share price today is being overbought.
Technical chart claims that Nutrien Ltd. (NTR) would settle between $43.25/share to $43.75/share level. However, if the stock price goes below the $42.49 mark, then the market for Nutrien Ltd. becomes much weaker. If that happens, the stock price might even plunge as low as $42.22 for its downside target. The stock is currently in the red zone of MACD, with the indicator reading -0.55. Traders are always alerted for the move of a stock above or below the zero line due to the fact that the reading is an indicator of the position of the short-term average relative to the long-term average. If the MACD is above the zero line, then the short-term average relative is above that of the long-term average, thus implying an upward momentum. Vice versa is the case if the MACD is below the zero line.
Analysts at Citigroup lowered their recommendation on shares of NTR from Buy to Neutral in their opinion released on February 14. Cleveland Research analysts have lowered their rating of Nutrien Ltd. (NYSE:NTR) stock from Buy to Neutral in a separate flash note issued to investors on February 10. Analysts at Stephens lowered the stock to a Equal-Weight call from its previous Overweight recommendation, in a research note that dated back to January 23.
NTR equity has an average rating of 1.95, with the figure leaning towards a bullish end. 21 analysts who tracked the company were contacted by Reuters. Amongst them, 7 rated the stock as a hold while the remaining 14 were split even though not equally. Some analysts rate the stock as a buy or a strong buy while no rated it as a sell. 14 analysts rated Nutrien Ltd. (NYSE:NTR) as a buy or a strong buy while not a single analyst advised that investors should desist from purchasing the stock or sell them if they already own the company’s stock.
Moving on, NTR stock price is currently trading at 14.06X forward 12-month Consensus EPS estimates, and its P/E ratio is 19.1 while for the average stock in the same group, the multiple is 19.5. Nutrien Ltd. current P/B ratio of 1.1 means it is trading at a discount against its industry’s 1.3.