Corteva (NYSE:CTVA) PT Raised to $64.00

Corteva (NYSE:CTVA) had its price target hoisted by equities research analysts at Royal Bank of Canada from $62.00 to $64.00 in a research report issued to clients and investors on Monday, Benzinga reports. The firm presently has an “outperform” rating on the stock. Royal Bank of Canada’s target price points to a potential upside of 13.13% from the stock’s previous close.

CTVA has been the topic of several other research reports. TheStreet raised Corteva from a “c+” rating to a “b-” rating in a research note on Tuesday, February 27th. KeyCorp boosted their target price on shares of Corteva from $63.00 to $66.00 and gave the stock an “overweight” rating in a report on Tuesday, April 9th. Loop Capital raised shares of Corteva from a “hold” rating to a “buy” rating and increased their price objective for the company from $57.00 to $65.00 in a report on Monday, February 12th. Mizuho raised their price target on Corteva from $56.00 to $61.00 and gave the company a “buy” rating in a report on Thursday. Finally, Barclays increased their target price on Corteva from $55.00 to $58.00 and gave the company an “equal weight” rating in a research report on Wednesday, April 10th. Six investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $63.24.

Corteva Stock Performance

Shares of NYSE:CTVA traded down $0.59 during trading on Monday, hitting $56.57. The company’s stock had a trading volume of 2,007,469 shares, compared to its average volume of 3,528,128. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.51 and a quick ratio of 0.97. Corteva has a 12 month low of $43.22 and a 12 month high of $59.04. The firm has a market cap of $39.43 billion, a price-to-earnings ratio of 71.76, a P/E/G ratio of 1.50 and a beta of 0.78. The company has a 50-day moving average of $55.37 and a 200-day moving average of $50.65.

Corteva (NYSE:CTVA) last posted its quarterly earnings results on Wednesday, May 1st. The company reported $0.89 earnings per share for the quarter, topping analysts’ consensus estimates of $0.79 by $0.10. Corteva had a net margin of 3.32% and a return on equity of 6.68%. The business had revenue of $4.49 billion during the quarter, compared to analyst estimates of $4.65 billion. During the same period in the prior year, the business posted $1.16 earnings per share. The company’s revenue was down 8.0% on a year-over-year basis. On average, sell-side analysts expect that Corteva will post 2.83 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of CTVA. WCM Investment Management LLC raised its holdings in shares of Corteva by 3.1% in the fourth 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 in the last quarter. Parsons Capital Management Inc. RI bought a new position in Corteva in the first quarter worth approximately $230,000. 17 Capital Partners LLC purchased a new stake in Corteva during the fourth quarter worth $1,649,000. Factory Mutual Insurance Co. boosted its position in Corteva by 10.7% during the 4th quarter. Factory Mutual Insurance Co. now owns 532,558 shares of the company’s stock valued at $25,520,000 after acquiring an additional 51,500 shares in the last quarter. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its holdings in shares of 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 acquiring an additional 68,593 shares during the period. 81.54% of the stock is currently owned by hedge funds and other institutional investors.

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.