So far this year, some major agribusiness stocks, particularly in the fertilizer sector, have performed poorly. On the other hand, the SPDR S&P 500 ETF (SPY), the broader index, has risen 1.3% YTD (year-to-date). The VanEck Vectors Agribusiness ETF (MOO) has risen 1.9%.
Nutrien (NTR), formerly PotashCorp and Agrium, has fallen 14% YTD as of February 22, 2018. The stock closed at $47.60 per share that day. Intrepid Potash (IPI) has also had significant losses this year, falling 19% YTD. Over the same period, CF Industries (CF) rose 1%, CVR Partners (UAN) rose 1%, and Monsanto (MON) rose 3.2%. FMC fell 12%, and SQM fell 5%.
In this series, we’ll be looking at analysts’ ratings and price target updates for some of the above agribusiness companies now that most of them are past the earnings season. We’ll see how they have changed from our previous update in January 2018.
Unlike our previous updates, we’ve excluded Scotts Miracle-Gro (SMG), which is now covered under the cannabis sector. You can find the latest rating update for Scotts Miracle-Gro at Analyst Ratings and Price Targets for Major Cannabis Stocks.