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

Corteva (NYSE:CTVA - Get Free Report) had its price target boosted by analysts at Barclays from $58.00 to $62.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage presently has an "equal weight" rating on the stock. Barclays's target price suggests a potential upside of 6.29% from the stock's current price.

Several other research firms have also commented on CTVA. Morgan Stanley reaffirmed an "overweight" rating and set a $65.00 price target on shares of Corteva in a research report on Tuesday, September 24th. Wells Fargo & Company decreased their price target on Corteva from $67.00 to $65.00 and set an "overweight" rating on the stock in a research note on Friday, August 2nd. Oppenheimer reissued an "outperform" rating and set a $70.00 price objective (up from $69.00) on shares of Corteva in a research report on Friday. UBS Group upped their target price on shares of Corteva from $67.00 to $71.00 and gave the company a "buy" rating in a research report on Thursday. Finally, Argus cut shares of Corteva from a "buy" rating to a "hold" rating in a research report on Wednesday, August 7th. One analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have given a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $63.47.

Corteva Trading Down 0.5 %

Corteva stock traded down $0.31 during trading on Friday, reaching $58.33. 4,673,780 shares of the company were exchanged, compared to its average volume of 3,270,237. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.72 and a quick ratio of 1.17. The stock's 50 day simple moving average is $58.19 and its two-hundred day simple moving average is $55.59. The company has a market capitalization of $40.38 billion, a P/E ratio of 44.87, a PEG ratio of 1.76 and a beta of 0.77. Corteva has a 52-week low of $43.22 and a 52-week high of $63.75.

Corteva (NYSE:CTVA - Get Free Report) last posted its quarterly earnings results on Wednesday, November 6th. The company reported ($0.49) EPS for the quarter, missing the consensus estimate of ($0.31) by ($0.18). Corteva had a return on equity of 7.30% and a net margin of 5.31%. The company had revenue of $2.33 billion for the quarter, compared to analysts' expectations of $2.69 billion. On average, equities research analysts expect that Corteva will post 2.66 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Corteva

Large investors have recently modified their holdings of the stock. Cornerstone Advisors LLC boosted its stake in shares of Corteva by 8.6% in the third quarter. Cornerstone Advisors LLC now owns 16,400 shares of the company's stock valued at $964,000 after buying an additional 1,300 shares in the last quarter. Citizens Financial Group Inc. RI grew its position in Corteva by 14.2% during the third quarter. Citizens Financial Group Inc. RI now owns 17,274 shares of the company's stock worth $1,016,000 after buying an additional 2,142 shares during the period. Moors & Cabot Inc. increased its holdings in Corteva by 2.2% in the third quarter. Moors & Cabot Inc. now owns 34,346 shares of the company's stock valued at $2,019,000 after buying an additional 726 shares in the last quarter. First Horizon Advisors Inc. lifted its position in shares of Corteva by 41.5% during the 3rd quarter. First Horizon Advisors Inc. now owns 3,548 shares of the company's stock valued at $209,000 after acquiring an additional 1,040 shares during the period. Finally, Prospera Private Wealth LLC purchased a new stake in shares of Corteva during the 3rd quarter worth approximately $533,000. 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.