Corteva (NYSE:CTVA) Receives Buy Rating from Argus

Corteva (NYSE:CTVA)‘s stock had its “buy” rating reissued by equities research analysts at Argus in a research report issued to clients and investors on Friday, Benzinga reports. They currently have a $91.00 price objective on the stock. Argus’ target price suggests a potential upside of 11.55% from the company’s current price.

A number of other equities research analysts have also recently weighed in on the stock. Zacks Research cut shares of Corteva from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 11th. Morgan Stanley boosted their price target on Corteva from $84.00 to $95.00 and gave the stock an “overweight” rating in a research report on Thursday, May 28th. Oppenheimer raised their price objective on Corteva from $89.00 to $95.00 and gave the company an “outperform” rating in a research report on Thursday, July 23rd. JPMorgan Chase & Co. lifted their price objective on Corteva from $77.00 to $83.00 and gave the company a “neutral” rating in a research note on Monday, August 3rd. Finally, Bank of America increased their target price on Corteva from $90.00 to $96.00 and gave the stock a “buy” rating in a research note on Monday, July 20th. Fourteen investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat, Corteva presently has an average rating of “Moderate Buy” and a consensus target price of $91.90.

Corteva Trading Up 0.7%

CTVA opened at $81.58 on Friday. The company has a quick ratio of 1.10, a current ratio of 1.52 and a debt-to-equity ratio of 0.07. Corteva has a 52 week low of $60.53 and a 52 week high of $90.97. The stock has a market cap of $54.43 billion, a PE ratio of 54.02, a PEG ratio of 2.49 and a beta of 0.57. The business has a 50 day moving average of $83.23 and a 200-day moving average of $81.46.

Corteva (NYSE:CTVA) last announced its quarterly earnings data on Thursday, July 30th. The company reported $2.30 EPS for the quarter, beating the consensus estimate of $2.24 by $0.06. The business had revenue of $6.38 billion during the quarter, compared to analyst estimates of $6.60 billion. Corteva had a return on equity of 10.18% and a net margin of 5.66%.The company’s revenue for the quarter was down 1.2% on a year-over-year basis. During the same quarter last year, the firm posted $2.20 earnings per share. Corteva has set its FY 2026 guidance at 3.600-3.800 EPS. Equities research analysts predict that Corteva will post 3.72 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Corteva

Several hedge funds and other institutional investors have recently modified their holdings of the company. BlackRock Inc. purchased a new position in Corteva in the second quarter worth about $4,560,180,000. Franklin Resources Inc. grew its position in Corteva by 4.3% during the fourth quarter. Franklin Resources Inc. now owns 19,537,500 shares of the company’s stock valued at $1,309,599,000 after buying an additional 805,873 shares during the period. Independent Franchise Partners LLP grew its position in Corteva by 1.0% during the fourth quarter. Independent Franchise Partners LLP now owns 10,495,388 shares of the company’s stock valued at $703,506,000 after buying an additional 107,434 shares during the period. Wellington Management Group LLP increased its holdings in Corteva by 941.7% during the second quarter. Wellington Management Group LLP now owns 7,612,704 shares of the company’s stock valued at $644,720,000 after buying an additional 6,881,875 shares during the last quarter. Finally, Royal Bank of Canada raised its position in Corteva by 202.1% in the first quarter. Royal Bank of Canada now owns 7,458,624 shares of the company’s stock worth $624,362,000 after acquiring an additional 4,989,371 shares during the period. 81.54% of the stock is owned by institutional investors.

About Corteva

Corteva, Inc is a global agricultural science company that develops and supplies seed, crop protection and digital agriculture solutions. Its products are designed to help farmers improve crop productivity, manage pests and weeds, and address changing environmental and agricultural conditions.

The company’s seed portfolio includes corn, soybean, wheat, sunflower, canola, cotton and other crop varieties marketed under brands such as Pioneer and Brevant. Corteva also provides herbicides, insecticides, fungicides and biological products, including solutions associated with its Enlist weed-control system and other crop protection technologies.

Corteva serves farmers, agricultural retailers and other customers across North America, Latin America, Europe, Asia and other international markets.