Corteva (NYSE:CTVA) Sets New 1-Year High at $48.70


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Corteva, Inc. (NYSE:CTVA) shares hit a new 52-week high during trading on Thursday . The stock traded as high as $48.70 and last traded at $48.64, with a volume of 39323 shares changing hands. The stock had previously closed at $48.28.

Several analysts have recently commented on CTVA shares. Zacks Investment Research upgraded Corteva from a “hold” rating to a “buy” rating and set a $53.00 price objective for the company in a report on Wednesday, April 7th. Morgan Stanley upped their target price on Corteva from $46.00 to $50.00 and gave the company an “overweight” rating in a research report on Friday, February 5th. KeyCorp upped their target price on Corteva from $51.00 to $53.00 and gave the company an “overweight” rating in a research report on Monday. Loop Capital raised Corteva from a “hold” rating to a “buy” rating and set a $54.00 target price on the stock in a research report on Monday. Finally, Barclays upped their target price on Corteva from $37.00 to $46.00 and gave the company an “equal weight” rating in a research report on Friday, February 5th. Three investment analysts have rated the stock with a sell rating, six have given a hold rating and thirteen have given a buy rating to the stock. Corteva currently has a consensus rating of “Hold” and a consensus price target of $43.76.

The firm has a 50-day simple moving average of $46.72 and a two-hundred day simple moving average of $40.82. The company has a current ratio of 1.82, a quick ratio of 1.26 and a debt-to-equity ratio of 0.05. The company has a market capitalization of $35.94 billion, a price-to-earnings ratio of 58.88, a P/E/G ratio of 1.90 and a beta of 0.82.

Corteva (NYSE:CTVA) last posted its earnings results on Tuesday, February 2nd. The company reported $0.04 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.05) by $0.09. Corteva had a net margin of 4.42% and a return on equity of 4.70%. The business had revenue of $3.21 billion for the quarter, compared to analyst estimates of $2.95 billion. During the same period in the prior year, the company posted $0.07 EPS. The company’s revenue for the quarter was up 7.6% on a year-over-year basis. Equities research analysts anticipate that Corteva, Inc. will post 1.4 EPS for the current year.

Several hedge funds have recently bought and sold shares of CTVA. Chiron Capital Management LLC purchased a new stake in shares of Corteva during the 3rd quarter worth about $60,000. Jeppson Wealth Management LLC purchased a new position in Corteva in the 3rd quarter valued at about $114,000. Advisor Partners LLC lifted its stake in Corteva by 2.2% in the 3rd quarter. Advisor Partners LLC now owns 15,906 shares of the company’s stock valued at $458,000 after buying an additional 338 shares in the last quarter. Brinker Capital Investments LLC purchased a new position in Corteva in the 3rd quarter valued at about $219,000. Finally, Van ECK Associates Corp lifted its stake in Corteva by 1.1% in the 3rd quarter. Van ECK Associates Corp now owns 4,966,202 shares of the company’s stock valued at $143,077,000 after buying an additional 53,204 shares in the last quarter. 77.15% of the stock is currently owned by institutional investors and hedge funds.

Corteva Company Profile (NYSE:CTVA)

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.

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