Corteva (NYSE:CTVA - Get Free Report) had its price target increased by equities researchers at KeyCorp from $68.00 to $70.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage presently has an "overweight" rating on the stock. KeyCorp's target price points to a potential upside of 11.25% from the stock's current price.
A number of other equities research analysts also recently commented on CTVA. Barclays increased their price objective on Corteva from $62.00 to $64.00 and gave the company an "equal weight" rating in a research report on Tuesday, January 21st. UBS Group reduced their target price on Corteva from $74.00 to $73.00 and set a "buy" rating for the company in a report on Friday, January 10th. Wells Fargo & Company increased their target price on Corteva from $67.00 to $73.00 and gave the company an "overweight" rating in a report on Tuesday, January 28th. Oppenheimer reiterated an "outperform" rating and set a $70.00 price objective (up from $69.00) on shares of Corteva in a report on Friday, November 8th. Finally, Royal Bank of Canada increased their target price on shares of Corteva from $68.00 to $73.00 and gave the stock an "outperform" rating in a research report on Thursday, December 19th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $67.56.
Get Our Latest Research Report on Corteva
Corteva Stock Performance
CTVA stock traded up $0.71 on Friday, reaching $62.92. The company's stock had a trading volume of 2,128,633 shares, compared to its average volume of 3,719,027. The firm has a fifty day moving average of $60.22 and a two-hundred day moving average of $58.30. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.45 and a quick ratio of 0.96. The company has a market capitalization of $43.24 billion, a P/E ratio of 48.79, a price-to-earnings-growth ratio of 1.85 and a beta of 0.78. Corteva has a 52 week low of $50.01 and a 52 week high of $66.24.
Corteva (NYSE:CTVA - Get Free Report) last issued its quarterly earnings results on Wednesday, February 5th. The company reported $0.32 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.34 by ($0.02). Corteva had a net margin of 5.36% and a return on equity of 7.19%. As a group, analysts predict that Corteva will post 2.83 EPS for the current fiscal year.
Corteva declared that its board has initiated a share repurchase plan on Tuesday, November 19th that permits the company to repurchase $3.00 billion in shares. This repurchase authorization permits the company to reacquire up to 7.5% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's management believes its stock is undervalued.
Institutional Inflows and Outflows
A number of institutional investors have recently modified their holdings of the company. Chicago Partners Investment Group LLC raised its stake in shares of Corteva by 1.2% in the fourth quarter. Chicago Partners Investment Group LLC now owns 13,282 shares of the company's stock valued at $759,000 after acquiring an additional 156 shares during the last quarter. Avidian Wealth Enterprises LLC raised its stake in shares of Corteva by 3.6% in the fourth quarter. Avidian Wealth Enterprises LLC now owns 4,521 shares of the company's stock valued at $258,000 after acquiring an additional 157 shares during the last quarter. Beacon Capital Management LLC increased its holdings in shares of Corteva by 13.4% in the fourth quarter. Beacon Capital Management LLC now owns 1,341 shares of the company's stock valued at $76,000 after purchasing an additional 158 shares in the last quarter. Lake Street Advisors Group LLC increased its holdings in shares of Corteva by 3.7% in the fourth quarter. Lake Street Advisors Group LLC now owns 4,514 shares of the company's stock valued at $257,000 after purchasing an additional 160 shares in the last quarter. Finally, Roble Belko & Company Inc increased its holdings in shares of Corteva by 5.5% in the fourth quarter. Roble Belko & Company Inc now owns 3,166 shares of the company's stock valued at $180,000 after purchasing an additional 166 shares in the last quarter. Institutional investors own 81.54% of the company's stock.
Corteva Company Profile
(
Get Free Report)
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.
Further Reading
Before you consider Corteva, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Corteva wasn't on the list.
While Corteva currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
As the AI market heats up, investors who have a vision for artificial intelligence have the potential to see real returns. Learn about the industry as a whole as well as seven companies that are getting work done with the power of AI.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
