Corteva (NYSE:CTVA) Given New $62.00 Price Target at Barclays

by · The Markets Daily

Corteva (NYSE:CTVA – Get Free Report) had its price target upped by equities research analysts at Barclays from $58.00 to $62.00 in a report released on Friday,Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Barclays‘s price objective points to a potential upside of 5.71% from the stock’s current price.

A number of other equities analysts have also commented on CTVA. UBS Group raised their price objective on shares of Corteva from $67.00 to $71.00 and gave the company a “buy” rating in a research report on Thursday. Morgan Stanley reiterated an “overweight” rating and issued a $65.00 price objective on shares of Corteva in a research report on Tuesday, September 24th. Oppenheimer reissued an “outperform” rating and set a $70.00 price objective (up previously from $69.00) on shares of Corteva in a report on Friday. Wells Fargo & Company decreased their price target on shares of Corteva from $67.00 to $65.00 and set an “overweight” rating on the stock in a report on Friday, August 2nd. Finally, Bank of America raised Corteva from a “neutral” rating to a “buy” rating and upped their target price for the stock from $59.00 to $67.00 in a research note on Wednesday, October 16th. One research analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $63.47.

Get Our Latest Stock Report on CTVA

Corteva Stock Performance

NYSE CTVA traded up $0.01 on Friday, hitting $58.65. 1,717,688 shares of the stock traded hands, compared to its average volume of 3,256,095. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.17 and a current ratio of 1.72. The business’s fifty day moving average is $58.14 and its two-hundred day moving average is $55.55. Corteva has a 12 month low of $43.22 and a 12 month high of $63.75. The firm has a market capitalization of $40.60 billion, a price-to-earnings ratio of 45.02, a PEG ratio of 1.76 and a beta of 0.77.

Corteva (NYSE:CTVA – Get Free Report) last issued its earnings results on Wednesday, November 6th. The company reported ($0.49) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.31) by ($0.18). The business had revenue of $2.33 billion for the quarter, compared to the consensus estimate of $2.69 billion. Corteva had a return on equity of 7.30% and a net margin of 5.31%. As a group, equities analysts anticipate that Corteva will post 2.66 EPS for the current fiscal year.

Institutional Investors Weigh In On Corteva

Several hedge funds have recently added to or reduced their stakes in the stock. Duality Advisers LP raised its position in shares of Corteva by 30.2% in the 1st quarter. Duality Advisers LP now owns 17,846 shares of the company’s stock worth $1,029,000 after purchasing an additional 4,142 shares during the last quarter. Envestnet Portfolio Solutions Inc. raised its holdings in Corteva by 6.9% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 79,971 shares of the company’s stock worth $4,612,000 after buying an additional 5,142 shares during the last quarter. Empowered Funds LLC lifted its stake in shares of Corteva by 55.4% in the first quarter. Empowered Funds LLC now owns 16,804 shares of the company’s stock worth $969,000 after buying an additional 5,989 shares in the last quarter. SG Americas Securities LLC grew its holdings in shares of Corteva by 279.5% during the first quarter. SG Americas Securities LLC now owns 120,952 shares of the company’s stock valued at $6,975,000 after buying an additional 89,077 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. increased its position in shares of Corteva by 1.3% during the first quarter. Oppenheimer Asset Management Inc. now owns 24,212 shares of the company’s stock valued at $1,396,000 after acquiring an additional 305 shares in the last quarter. 81.54% of the stock is owned by institutional investors.

About Corteva

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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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