Agrium Inc. (NYSE:AGU) Earns “Buy” Rating from Royal Bank Of Canada

Royal Bank Of Canada reaffirmed their buy rating on shares of Agrium Inc. (NYSE:AGU) (TSE:AGU) in a research report sent to investors on Wednesday, October 18th. Royal Bank Of Canada currently has a $115.00 price objective on the basic materials company’s stock.

Several other analysts have also weighed in on AGU. Stifel Nicolaus reissued a buy rating and issued a $116.00 price objective (up from $107.00) on shares of Agrium in a report on Friday, August 11th. TD Securities upped their target price on Agrium from $99.00 to $102.00 and gave the company a hold rating in a report on Thursday, August 10th. HSBC Holdings plc assumed coverage on Agrium in a report on Wednesday, October 11th. They set a buy rating and a $126.50 target price for the company. Zacks Investment Research lowered Agrium from a hold rating to a sell rating in a report on Wednesday, October 11th. Finally, Cowen and Company set a $99.00 price objective on Agrium and gave the stock a buy rating in a research report on Friday, July 28th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and nine have given a buy rating to the stock. Agrium currently has a consensus rating of Hold and a consensus target price of $112.50.

Shares of Agrium (NYSE AGU) traded down 1.01% during trading on Wednesday, hitting $107.31. The stock had a trading volume of 510,659 shares. The stock has a market cap of $14.83 billion, a price-to-earnings ratio of 25.89 and a beta of 0.62. The company’s 50 day moving average price is $106.69 and its 200 day moving average price is $97.77. Agrium has a 12 month low of $87.82 and a 12 month high of $111.88.

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The company also recently announced a quarterly dividend, which was paid on Thursday, October 19th. Shareholders of record on Friday, September 29th were paid a dividend of $0.875 per share. This represents a $3.50 annualized dividend and a yield of 3.26%. The ex-dividend date was Thursday, September 28th. Agrium’s dividend payout ratio (DPR) is currently 84.34%.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Probity Advisors Inc. increased its stake in shares of Agrium by 0.4% in the second quarter. Probity Advisors Inc. now owns 9,799 shares of the basic materials company’s stock worth $887,000 after acquiring an additional 41 shares during the last quarter. Verity Asset Management Inc. increased its stake in shares of Agrium by 0.9% in the second quarter. Verity Asset Management Inc. now owns 5,630 shares of the basic materials company’s stock worth $509,000 after acquiring an additional 48 shares during the last quarter. Cascade Investment Advisors Inc. increased its stake in shares of Agrium by 0.5% in the second quarter. Cascade Investment Advisors Inc. now owns 18,185 shares of the basic materials company’s stock worth $1,646,000 after acquiring an additional 85 shares during the last quarter. Envestnet Asset Management Inc. increased its stake in shares of Agrium by 4.8% in the first quarter. Envestnet Asset Management Inc. now owns 2,247 shares of the basic materials company’s stock worth $212,000 after acquiring an additional 103 shares during the last quarter. Finally, Comerica Bank increased its stake in shares of Agrium by 1.2% in the first quarter. Comerica Bank now owns 8,519 shares of the basic materials company’s stock worth $809,000 after acquiring an additional 103 shares during the last quarter. 66.16% of the stock is currently owned by institutional investors and hedge funds.

About Agrium

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.

Analyst Recommendations for Agrium (NYSE:AGU)

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