Wolfe Research Issues Positive Forecast for Corteva (NYSE:CTVA) Stock Price

Corteva (NYSE:CTVA) had its price target boosted by investment analysts at Wolfe Research from $80.00 to $81.00 in a research report issued to clients and investors on Friday,MarketScreener reports. The firm presently has an “outperform” rating on the stock. Wolfe Research’s price objective indicates a potential upside of 16.30% from the stock’s previous close.

Several other research firms have also weighed in on CTVA. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Corteva from $90.00 to $85.00 and set a “buy” rating on the stock in a report on Thursday, November 6th. Citigroup raised shares of Corteva from a “neutral” rating to a “positive” rating in a research report on Thursday, December 18th. The Goldman Sachs Group raised their price target on shares of Corteva from $77.00 to $78.00 and gave the stock a “buy” rating in a report on Tuesday, December 16th. Mizuho lifted their price objective on Corteva from $78.00 to $80.00 and gave the stock an “outperform” rating in a report on Friday. Finally, Zacks Research downgraded shares of Corteva from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 30th. Sixteen investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $78.84.

Corteva Stock Performance

Shares of Corteva stock opened at $69.65 on Friday. Corteva has a one year low of $53.40 and a one year high of $77.41. The firm has a market cap of $47.06 billion, a price-to-earnings ratio of 29.77, a price-to-earnings-growth ratio of 1.42 and a beta of 0.74. The stock’s 50-day moving average is $66.79 and its 200-day moving average is $68.66. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.58 and a quick ratio of 1.07.

Corteva (NYSE:CTVA) last issued 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 company had revenue of $2.62 billion during the quarter, compared to the consensus estimate of $2.47 billion. Corteva had a return on equity of 9.37% and a net margin of 9.19%.Corteva’s revenue was up 6.5% on a year-over-year basis. During the same period last year, the business posted ($0.49) earnings per share. Equities analysts predict that Corteva will post 2.96 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Corteva

Hedge funds have recently modified their holdings of the company. PGGM Investments raised its position in shares of Corteva by 68.5% during the 2nd quarter. PGGM Investments now owns 1,223,444 shares of the company’s stock worth $91,183,000 after acquiring an additional 497,200 shares in the last quarter. TriaGen Wealth Management LLC bought a new position in Corteva in the third quarter valued at about $4,284,000. New York State Teachers Retirement System increased its holdings in shares of Corteva by 4.5% in the third quarter. New York State Teachers Retirement System now owns 551,389 shares of the company’s stock valued at $37,290,000 after purchasing an additional 23,548 shares during the last quarter. Assenagon Asset Management S.A. lifted its holdings in Corteva by 43.0% in the third quarter. Assenagon Asset Management S.A. now owns 2,751,157 shares of the company’s stock valued at $186,061,000 after buying an additional 826,738 shares during the period. Finally, Schroder Investment Management Group lifted its stake in Corteva by 302.1% in the 2nd quarter. Schroder Investment Management Group now owns 484,605 shares of the company’s stock worth $36,118,000 after purchasing an additional 364,083 shares in the last quarter. Hedge funds and other institutional investors own 81.54% of the company’s stock.

Corteva Company Profile

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.