Corteva (NYSE:CTVA) Stock Rating Upgraded by Zacks Research

Corteva (NYSE:CTVA) was upgraded by equities researchers at Zacks Research from a “hold” rating to a “strong-buy” rating in a research report issued on Wednesday,Zacks.com reports.

CTVA has been the subject of a number of other research reports. Oppenheimer set a $87.00 target price on shares of Corteva and gave the company an “outperform” rating in a research report on Tuesday, July 15th. KeyCorp lifted their price objective on shares of Corteva from $84.00 to $85.00 and gave the stock an “overweight” rating in a research note on Friday, August 8th. BMO Capital Markets set a $86.00 target price on shares of Corteva in a research report on Monday, September 15th. Wall Street Zen upgraded shares of Corteva from a “hold” rating to a “buy” rating in a research report on Saturday, August 9th. Finally, UBS Group boosted their price target on Corteva from $90.00 to $91.00 and gave the company a “buy” rating in a research note on Thursday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $80.36.

Corteva Trading Up 2.9%

Shares of NYSE:CTVA opened at $63.27 on Wednesday. Corteva has a 12-month low of $53.40 and a 12-month high of $77.41. The business has a 50 day moving average of $71.44 and a 200-day moving average of $68.84. The company has a quick ratio of 1.23, a current ratio of 1.68 and a debt-to-equity ratio of 0.06. The stock has a market cap of $42.96 billion, a PE ratio of 30.86, a P/E/G ratio of 1.39 and a beta of 0.76.

Corteva (NYSE:CTVA) last released its quarterly earnings results on Wednesday, August 6th. The company reported $2.20 earnings per share for the quarter, topping the consensus estimate of $1.89 by $0.31. The business had revenue of $6.46 billion during the quarter, compared to analysts’ expectations of $6.26 billion. Corteva had a return on equity of 8.68% and a net margin of 8.16%.The firm’s revenue for the quarter was up 5.6% compared to the same quarter last year. During the same period last year, the firm posted $1.83 EPS. As a group, equities research analysts forecast that Corteva will post 2.96 earnings per share for the current year.

Insiders Place Their Bets

In other Corteva news, EVP Robert D. King sold 37,280 shares of the company’s stock in a transaction on Friday, August 29th. The stock was sold at an average price of $74.20, for a total transaction of $2,766,176.00. Following the completion of the sale, the executive vice president directly owned 49,262 shares in the company, valued at $3,655,240.40. This represents a 43.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.14% of the stock is owned by insiders.

Institutional Trading of Corteva

Several large investors have recently bought and sold shares of the business. Moody National Bank Trust Division grew its stake in shares of Corteva by 0.7% in the second quarter. Moody National Bank Trust Division now owns 22,139 shares of the company’s stock worth $1,650,000 after acquiring an additional 143 shares during the last quarter. Ancora Advisors LLC boosted its stake in Corteva by 0.8% in the 1st quarter. Ancora Advisors LLC now owns 18,567 shares of the company’s stock worth $1,168,000 after purchasing an additional 150 shares in the last quarter. NORTHSTAR ASSET MANAGEMENT Co grew its position in Corteva by 2.2% during the 2nd quarter. NORTHSTAR ASSET MANAGEMENT Co now owns 6,940 shares of the company’s stock valued at $517,000 after purchasing an additional 150 shares during the last quarter. NewEdge Advisors LLC increased its stake in Corteva by 0.5% during the 1st quarter. NewEdge Advisors LLC now owns 31,455 shares of the company’s stock valued at $1,979,000 after purchasing an additional 152 shares in the last quarter. Finally, Empirical Finance LLC raised its holdings in Corteva by 0.6% in the second quarter. Empirical Finance LLC now owns 24,935 shares of the company’s stock worth $1,858,000 after buying an additional 153 shares during the last quarter. 81.54% of the stock is owned by institutional investors and hedge funds.

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.