Corteva (NYSE:CTVA) Given New $75.00 Price Target at JPMorgan Chase & Co.

Corteva (NYSE:CTVA) had its target price upped by analysts at JPMorgan Chase & Co. from $70.00 to $75.00 in a research note issued on Wednesday,MarketScreener reports. The firm currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective would indicate a potential upside of 5.95% from the stock’s current price.

CTVA has been the subject of several other reports. Oppenheimer reiterated an “outperform” rating and set a $76.00 target price on shares of Corteva in a research note on Friday, November 7th. Royal Bank Of Canada dropped their price objective on shares of Corteva from $86.00 to $80.00 and set an “outperform” rating on the stock in a research report on Friday, October 17th. Zacks Research downgraded shares of Corteva from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 30th. Bank of America upped their price target on shares of Corteva from $80.00 to $82.00 and gave the company a “buy” rating in a research note on Thursday, January 8th. Finally, UBS Group cut their price objective on shares of Corteva from $85.00 to $81.00 and set a “buy” rating for the company in a research report on Thursday, October 30th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $79.47.

Corteva Stock Up 2.7%

NYSE CTVA traded up $1.89 during trading hours on Wednesday, hitting $70.79. 731,354 shares of the company traded hands, compared to its average volume of 3,376,534. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.07 and a current ratio of 1.58. The business’s 50-day moving average is $66.94 and its 200-day moving average is $68.45. The stock has a market capitalization of $47.83 billion, a price-to-earnings ratio of 30.25, a P/E/G ratio of 1.41 and a beta of 0.74. Corteva has a twelve month low of $53.40 and a twelve month high of $77.41.

Corteva (NYSE:CTVA) last announced its quarterly earnings results on Tuesday, November 4th. The company reported ($0.23) EPS for the quarter, beating analysts’ consensus estimates of ($0.49) by $0.26. The firm had revenue of $2.62 billion during the quarter, compared to analysts’ expectations of $2.47 billion. Corteva had a net margin of 9.19% and a return on equity of 9.37%. The company’s revenue for the quarter was up 6.5% compared to the same quarter last year. During the same quarter last year, the company posted ($0.49) earnings per share. Sell-side analysts anticipate that Corteva will post 2.96 earnings per share for the current year.

Hedge Funds Weigh In On Corteva

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Brighton Jones LLC boosted its position in shares of Corteva by 307.2% during the 4th quarter. Brighton Jones LLC now owns 15,588 shares of the company’s stock worth $888,000 after acquiring an additional 11,760 shares in the last quarter. Woodline Partners LP lifted its stake in Corteva by 40.3% during the first quarter. Woodline Partners LP now owns 57,919 shares of the company’s stock worth $3,645,000 after purchasing an additional 16,644 shares during the last quarter. Farther Finance Advisors LLC boosted its holdings in shares of Corteva by 20.4% in the 2nd quarter. Farther Finance Advisors LLC now owns 5,282 shares of the company’s stock valued at $394,000 after purchasing an additional 895 shares in the last quarter. Sowell Financial Services LLC increased its stake in shares of Corteva by 12.0% in the 2nd quarter. Sowell Financial Services LLC now owns 7,024 shares of the company’s stock valued at $524,000 after purchasing an additional 754 shares during the last quarter. Finally, Park Avenue Securities LLC raised its holdings in shares of Corteva by 41.1% during the 2nd quarter. Park Avenue Securities LLC now owns 27,036 shares of the company’s stock worth $2,015,000 after buying an additional 7,873 shares in the last quarter. 81.54% of the stock is currently owned by institutional investors and hedge funds.

About Corteva

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.