Corteva (NYSE:CTVA) Given New $67.00 Price Target at Wells Fargo & Company

Corteva (NYSE:CTVA) had its target price upped by investment analysts at Wells Fargo & Company from $66.00 to $67.00 in a report issued on Friday, Benzinga reports. The firm presently has an “overweight” rating on the stock. Wells Fargo & Company‘s price target would indicate a potential upside of 17.21% from the stock’s previous close.

CTVA has been the subject of a number of other research reports. Barclays increased their target price on shares of Corteva from $55.00 to $58.00 and gave the company an “equal weight” rating in a research report on Wednesday, April 10th. Loop Capital upgraded shares of Corteva from a “hold” rating to a “buy” rating and upped their price objective for the company from $57.00 to $65.00 in a report on Monday, February 12th. JPMorgan Chase & Co. restated a “neutral” rating and issued a $57.00 target price (down previously from $58.00) on shares of Corteva in a report on Friday, April 12th. Canaccord Genuity Group increased their price objective on shares of Corteva from $60.00 to $65.00 and gave the company a “buy” rating in a research note on Friday. Finally, TheStreet raised shares of Corteva from a “c+” rating to a “b-” rating in a 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 company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $63.38.

Corteva Trading Up 0.3 %

Shares of NYSE:CTVA traded up $0.18 during midday trading on Friday, hitting $57.16. 2,977,563 shares of the stock were exchanged, compared to its average volume of 2,761,026. The business’s 50-day moving average price is $55.37 and its 200 day moving average price is $50.66. The stock has a market capitalization of $39.95 billion, a price-to-earnings ratio of 72.35, a P/E/G ratio of 1.50 and a beta of 0.78. Corteva has a 12 month low of $43.22 and a 12 month high of $60.57. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.90 and a current ratio of 1.51.

Corteva (NYSE:CTVA) last announced its earnings results on Wednesday, May 1st. The company reported $0.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.79 by $0.10. Corteva had a return on equity of 6.68% and a net margin of 3.32%. The business had revenue of $4.49 billion during the quarter, compared to analyst estimates of $4.65 billion. During the same period last year, the company earned $1.16 EPS. Corteva’s revenue for the quarter was down 8.0% compared to the same quarter last year. Analysts predict that Corteva will post 2.83 earnings per share for the current year.

Hedge Funds Weigh In On Corteva

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. CVA Family Office LLC purchased a new position in Corteva during the 4th quarter valued at about $25,000. Redmont Wealth Advisors LLC acquired a new position in shares of Corteva in the 1st quarter valued at about $25,000. BKM Wealth Management LLC acquired a new stake in Corteva in the 4th quarter valued at $27,000. Rise Advisors LLC raised its holdings in shares of Corteva by 2,522.2% during the 1st quarter. Rise Advisors LLC now owns 472 shares of the company’s stock valued at $27,000 after buying an additional 454 shares during the period. Finally, NewSquare Capital LLC lifted its position in Corteva by 70.6% during the 3rd quarter. NewSquare Capital LLC now owns 546 shares of the company’s stock worth $28,000 after acquiring an additional 226 shares in the last quarter. 81.54% of the stock is currently owned by hedge funds and other institutional investors.

About Corteva

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.