Canaccord Genuity Group Increases Corteva (NYSE:CTVA) Price Target to $65.00

Corteva (NYSE:CTVA) had its target price upped by investment analysts at Canaccord Genuity Group from $60.00 to $65.00 in a research note issued to investors on Friday, Benzinga reports. The firm currently has a “buy” rating on the stock. Canaccord Genuity Group’s price target points to a potential upside of 13.72% from the company’s previous close.

CTVA has been the topic of several other research reports. Wolfe Research initiated coverage on Corteva in a report on Friday, March 1st. They set an “outperform” rating and a $67.00 price target on the stock. Royal Bank of Canada raised their target price on shares of Corteva from $56.00 to $64.00 and gave the company an “outperform” rating in a report on Friday, February 2nd. Loop Capital upgraded shares of Corteva from a “hold” rating to a “buy” rating and boosted their price target for the stock from $57.00 to $65.00 in a report on Monday, February 12th. BMO Capital Markets raised their price objective on shares of Corteva from $64.00 to $67.00 and gave the company an “outperform” rating in a report on Friday. Finally, TheStreet raised shares of Corteva from a “c+” rating to a “b-” rating in a research report on Tuesday, February 27th. Six equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $63.38.

Corteva Trading Up 0.3 %

NYSE:CTVA traded up $0.18 on Friday, reaching $57.16. 2,977,563 shares of the company’s stock were exchanged, compared to its average volume of 2,761,026. The business has a fifty day moving average of $55.37 and a 200-day moving average of $50.66. The company has a quick ratio of 0.90, a current ratio of 1.51 and a debt-to-equity ratio of 0.10. Corteva has a 52-week low of $43.22 and a 52-week high of $60.57. The firm has a market capitalization of $39.95 billion, a price-to-earnings ratio of 72.35, a price-to-earnings-growth ratio of 1.50 and a beta of 0.78.

Corteva (NYSE:CTVA) last issued its quarterly earnings results on Wednesday, May 1st. The company reported $0.89 EPS for the quarter, beating the consensus estimate of $0.79 by $0.10. Corteva had a net margin of 3.32% and a return on equity of 6.68%. The company had revenue of $4.49 billion during the quarter, compared to analysts’ expectations of $4.65 billion. During the same quarter last year, the company posted $1.16 EPS. The firm’s revenue was down 8.0% compared to the same quarter last year. As a group, analysts expect that Corteva will post 2.83 earnings per share for the current year.

Institutional Investors Weigh In On Corteva

Several hedge funds have recently made changes to their positions in the business. WCM Investment Management LLC raised its stake in Corteva by 3.1% during the 4th quarter. WCM Investment Management LLC now owns 7,103,146 shares of the company’s stock valued at $341,590,000 after acquiring an additional 213,949 shares during the last quarter. Parsons Capital Management Inc. RI acquired a new position in shares of Corteva in the first quarter valued at approximately $230,000. 17 Capital Partners LLC purchased a new stake in shares of Corteva during the fourth quarter worth approximately $1,649,000. Factory Mutual Insurance Co. lifted its holdings in shares of Corteva by 10.7% during the fourth quarter. Factory Mutual Insurance Co. now owns 532,558 shares of the company’s stock worth $25,520,000 after purchasing an additional 51,500 shares during the period. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its position in Corteva by 9.7% in the 3rd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 777,833 shares of the company’s stock valued at $39,794,000 after buying an additional 68,593 shares during the last quarter. Institutional investors and hedge funds own 81.54% of the company’s stock.

Corteva Company Profile

Corteva, Inc operates in the agriculture business. It operates through two segments, Seed and Crop Protection. The Seed segment develops and supplies advanced germplasm and traits that produce optimum yield for farms. It offers trait technologies that enhance resistance to weather, disease, insects, and herbicides used to control weeds, as well as food and nutritional characteristics.