Cowen and Company set a $99.00 target price on Agrium Inc. (NYSE:AGU) (TSE:AGU) in a research report sent to investors on Friday, July 28th. The brokerage currently has a buy rating on the basic materials company’s stock.
A number of other equities research analysts also recently weighed in on AGU. BMO Capital Markets reaffirmed a hold rating and set a $100.00 price target on shares of Agrium in a research note on Wednesday, April 5th. Citigroup Inc. cut their price target on Agrium from $111.00 to $104.00 and set a neutral rating for the company in a research note on Tuesday, April 11th. Credit Suisse Group reissued a hold rating and issued a $91.00 price objective on shares of Agrium in a research note on Friday, April 21st. Scotiabank reissued a sector perform rating and issued a $110.00 price objective on shares of Agrium in a research note on Tuesday, May 2nd. Finally, TD Securities set a $99.00 price objective on Agrium and gave the company a hold rating in a research note on Wednesday, May 3rd. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and ten have assigned a buy rating to the company. The stock currently has an average rating of Hold and a consensus target price of $103.00.
Agrium (AGU) traded down 0.26% during mid-day trading on Friday, reaching $98.58. 455,258 shares of the company were exchanged. The stock’s 50-day moving average is $95.34 and its 200-day moving average is $96.17. Agrium has a 12 month low of $87.75 and a 12 month high of $111.88. The company has a market cap of $13.62 billion, a P/E ratio of 23.49 and a beta of 0.62.
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Several hedge funds have recently made changes to their positions in the company. Korea Investment CORP raised its stake in shares of Agrium by 4.8% in the first quarter. Korea Investment CORP now owns 74,723 shares of the basic materials company’s stock valued at $7,111,000 after buying an additional 3,423 shares during the last quarter. First Manhattan Co. raised its stake in shares of Agrium by 22.1% in the first quarter. First Manhattan Co. now owns 290,488 shares of the basic materials company’s stock valued at $26,344,000 after buying an additional 52,542 shares during the last quarter. Ferguson Wellman Capital Management Inc. purchased a new stake in shares of Agrium during the first quarter valued at $4,136,000. Granite Investment Advisors LLC raised its stake in shares of Agrium by 7.1% in the first quarter. Granite Investment Advisors LLC now owns 126,982 shares of the basic materials company’s stock valued at $12,133,000 after buying an additional 8,398 shares during the last quarter. Finally, Harvey Capital Management Inc. purchased a new stake in shares of Agrium during the first quarter valued at $2,084,000. 69.03% of the stock is currently owned by institutional investors.
Agrium Company Profile
Agrium Inc is a retailer of agricultural products and services in the United States, Canada, Australia, Argentina, Brazil, Chile and Uruguay and a multi-national producer and wholesale marketer of nutrients for agricultural and industrial markets. The Company’s segments include Retail and Wholesale. As of December 31, 2016, its Retail business unit marketed crop nutrients, crop protection products, seed, merchandise, application and other agronomic services through 1,500 retail locations in the United States, Canada, Australia, Argentina, Brazil, Chile and Uruguay.
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