Deutsche Bank Aktiengesellschaft Raises Corteva (NYSE:CTVA) Price Target to $65.00

Corteva (NYSE:CTVA) had its price target upped by research analysts at Deutsche Bank Aktiengesellschaft from $62.00 to $65.00 in a research report issued to clients and investors on Monday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Deutsche Bank Aktiengesellschaft’s target price indicates a potential upside of 14.90% from the company’s previous close.

CTVA has been the subject of several other research reports. Mizuho raised their target price on Corteva from $56.00 to $61.00 and gave the stock a “buy” rating in a research report on Thursday. Wolfe Research initiated coverage on Corteva in a research report on Friday, March 1st. They set an “outperform” rating and a $67.00 price objective for the company. TheStreet upgraded Corteva from a “c+” rating to a “b-” rating in a report on Tuesday, February 27th. Canaccord Genuity Group raised their price target on shares of Corteva from $60.00 to $65.00 and gave the stock a “buy” rating in a report on Friday. Finally, Wells Fargo & Company upped their price objective on shares of Corteva from $66.00 to $67.00 and gave the company an “overweight” rating in a research note on Friday. Six analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat, Corteva has a consensus rating of “Moderate Buy” and an average target price of $63.24.

Corteva Trading Down 1.0 %

Shares of NYSE CTVA traded down $0.59 during mid-day trading on Monday, hitting $56.57. 2,007,469 shares of the company traded hands, compared to its average volume of 3,528,128. The business has a 50 day moving average of $55.37 and a two-hundred day moving average of $50.65. The stock has a market capitalization of $39.43 billion, a price-to-earnings ratio of 71.76, a PEG ratio of 1.50 and a beta of 0.78. Corteva has a 1 year low of $43.22 and a 1 year high of $59.04. The company has a quick ratio of 0.97, a current ratio of 1.51 and a debt-to-equity ratio of 0.10.

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

Institutional Investors Weigh In On Corteva

Hedge funds and other institutional investors have recently modified their holdings of the stock. Stratos Wealth Partners LTD. lifted its stake in shares of Corteva by 14.6% in the third quarter. Stratos Wealth Partners LTD. now owns 11,791 shares of the company’s stock valued at $603,000 after buying an additional 1,506 shares during the period. Lindbrook Capital LLC increased its position in shares of Corteva by 9.3% during the third quarter. Lindbrook Capital LLC now owns 3,186 shares of the company’s stock valued at $163,000 after purchasing an additional 271 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Corteva by 1.0% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 233,555 shares of the company’s stock valued at $11,949,000 after purchasing an additional 2,386 shares in the last quarter. Brighton Jones LLC lifted its position in Corteva by 7.0% in the third quarter. Brighton Jones LLC now owns 5,212 shares of the company’s stock worth $267,000 after purchasing an additional 342 shares during the period. Finally, IFM Investors Pty Ltd increased its holdings in Corteva by 3.7% in the 3rd quarter. IFM Investors Pty Ltd now owns 141,713 shares of the company’s stock valued at $7,250,000 after buying an additional 5,035 shares during the period. Institutional investors and hedge funds own 81.54% of the company’s stock.

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.