Corteva (NYSE:CTVA) Price Target Raised to $81.00

Corteva (NYSE:CTVA) had its price objective lifted by equities researchers at Wolfe Research from $80.00 to $81.00 in a research report issued on Friday,MarketScreener reports. The brokerage currently has an “outperform” rating on the stock. Wolfe Research’s price objective suggests a potential upside of 16.30% from the stock’s previous close.

Other equities analysts have also recently issued research reports about the company. UBS Group cut their price objective on Corteva from $85.00 to $81.00 and set a “buy” rating for the company in a research report on Thursday, October 30th. Royal Bank Of Canada cut their target price on shares of Corteva from $86.00 to $80.00 and set an “outperform” rating on the stock in a research note on Friday, October 17th. Jefferies Financial Group decreased their price objective on Corteva from $92.00 to $85.00 in a report on Thursday, October 2nd. Rothschild & Co Redburn reduced their target price on shares of Corteva from $71.00 to $65.00 and set a “neutral” rating for the company in a research note on Tuesday, November 11th. Finally, Zacks Research downgraded shares of Corteva from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 30th. Sixteen research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Corteva has a consensus rating of “Moderate Buy” and an average target price of $78.84.

Corteva Trading Down 1.2%

NYSE CTVA opened at $69.65 on Friday. The company has a market cap of $47.06 billion, a PE ratio of 29.77, a PEG ratio of 1.42 and a beta of 0.74. The stock has a 50 day moving average of $66.79 and a 200-day moving average of $68.66. The company has a current ratio of 1.58, a quick ratio of 1.07 and a debt-to-equity ratio of 0.07. Corteva has a 12 month low of $53.40 and a 12 month high of $77.41.

Corteva (NYSE:CTVA) last issued its quarterly earnings data on Tuesday, November 4th. The company reported ($0.23) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.49) by $0.26. The business had revenue of $2.62 billion for the quarter, compared to analysts’ expectations of $2.47 billion. Corteva had a return on equity of 9.37% and a net margin of 9.19%.The firm’s quarterly revenue was up 6.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.49) EPS. On average, equities research analysts anticipate that Corteva will post 2.96 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CTVA. Gladwyn Financial Advisors Inc. acquired a new position in Corteva during the second quarter worth $25,000. Activest Wealth Management grew its position in shares of Corteva by 118.3% during the third quarter. Activest Wealth Management now owns 369 shares of the company’s stock worth $25,000 after buying an additional 200 shares in the last quarter. JPL Wealth Management LLC bought a new position in shares of Corteva in the third quarter valued at $25,000. True Wealth Design LLC raised its stake in shares of Corteva by 209.5% in the 3rd quarter. True Wealth Design LLC now owns 390 shares of the company’s stock valued at $26,000 after acquiring an additional 264 shares in the last quarter. Finally, Total Investment Management Inc. bought a new stake in Corteva during the second quarter worth about $27,000. Institutional investors own 81.54% of the company’s stock.

Corteva Company Profile

Corteva, Inc (NYSE: CTVA) is an independent global agriculture company that was established as a publicly traded firm in mid?2019 following the separation of the agriculture businesses from DowDuPont. The company focuses on delivering technologies and products that help farmers increase productivity and manage crop health. Corteva’s operations combine seed genetics, crop protection chemistries, digital tools and biological solutions to address the full cycle of crop production.

Core business activities include research and development of seed genetics and trait technologies, formulation and sale of crop protection products (such as herbicides, insecticides and fungicides), and the development of seed treatments and biologicals.