Corteva (NYSE:CTVA) PT Raised to $67.00 at BMO Capital Markets

Corteva (NYSE:CTVA) had its target price increased by investment analysts at BMO Capital Markets from $64.00 to $67.00 in a note issued to investors on Friday, Benzinga reports. The brokerage currently has an “outperform” rating on the stock. BMO Capital Markets’ target price would indicate a potential upside of 17.19% from the stock’s current price.

Several other research firms have also recently weighed in on CTVA. 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 research note on Friday, February 2nd. Oppenheimer increased their price objective on shares of Corteva from $67.00 to $69.00 and gave the company an “outperform” rating in a research report on Friday. Wolfe Research started coverage on shares of Corteva in a research report on Friday, March 1st. They set an “outperform” rating and a $67.00 price objective for the company. Mizuho increased their price objective on shares of Corteva from $56.00 to $61.00 and gave the company a “buy” rating in a research report on Thursday. Finally, Wells Fargo & Company increased their price objective on shares of Corteva from $54.00 to $65.00 and gave the company an “overweight” rating in a research report on Friday, February 2nd. Six analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $63.38.

Corteva Price Performance

Shares of NYSE CTVA traded up $0.19 during midday trading on Friday, reaching $57.17. The stock had a trading volume of 2,977,558 shares, compared to its average volume of 3,547,653. The company has a market capitalization of $39.95 billion, a price-to-earnings ratio of 72.35, a price-to-earnings-growth ratio of 1.41 and a beta of 0.78. The stock has a 50-day moving average of $55.33 and a 200-day moving average of $50.61. 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 0.09, a quick ratio of 0.90 and a current ratio of 1.56.

Corteva (NYSE:CTVA) last posted its earnings results on Wednesday, May 1st. The company reported $0.89 earnings per share for the quarter, beating the consensus estimate of $0.79 by $0.10. The company had revenue of $4.49 billion during the quarter, compared to analysts’ expectations of $4.65 billion. Corteva had a net margin of 3.32% and a return on equity of 6.63%. Corteva’s quarterly revenue was down 8.0% on a year-over-year basis. During the same period last year, the company posted $1.16 earnings per share. As a group, research analysts anticipate that Corteva will post 2.84 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Redmont Wealth Advisors LLC purchased a new position in shares of Corteva in the 1st quarter worth approximately $25,000. Rise Advisors LLC grew its position in shares of Corteva by 2,522.2% in the 1st quarter. Rise Advisors LLC now owns 472 shares of the company’s stock worth $27,000 after buying an additional 454 shares during the last quarter. Albion Financial Group UT grew its position in shares of Corteva by 77.2% in the 1st quarter. Albion Financial Group UT now owns 505 shares of the company’s stock worth $29,000 after buying an additional 220 shares during the last quarter. CVA Family Office LLC purchased a new position in shares of Corteva in the 4th quarter worth approximately $25,000. Finally, Ironwood Wealth Management Inc. grew its position in shares of Corteva by 106.1% in the 1st quarter. Ironwood Wealth Management Inc. now owns 544 shares of the company’s stock worth $31,000 after buying an additional 280 shares during the last quarter. Hedge funds and other institutional investors 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.