Corteva (NYSE:CTVA) Stock Price Expected to Rise, The Goldman Sachs Group Analyst Says

Corteva (NYSE:CTVA) had its price target hoisted by The Goldman Sachs Group from $77.00 to $78.00 in a research note issued on Tuesday,MarketScreener reports. The firm presently has a “buy” rating on the stock. The Goldman Sachs Group’s price target indicates a potential upside of 18.61% from the company’s previous close.

Several other research analysts also recently commented on CTVA. Wells Fargo & Company decreased their target price on shares of Corteva from $80.00 to $77.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 11th. BMO Capital Markets set a $86.00 target price on Corteva in a report on Monday, September 15th. Weiss Ratings restated a “hold (c)” rating on shares of Corteva in a research note on Monday, December 8th. KeyCorp reiterated a “sector weight” rating on shares of Corteva in a report on Friday, October 3rd. Finally, Wolfe Research boosted their target price on shares of Corteva from $79.00 to $80.00 and gave the company an “outperform” rating in a report on Thursday, November 6th. Fifteen investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $78.11.

Corteva Stock Performance

Corteva stock opened at $65.76 on Tuesday. The firm has a fifty day simple moving average of $64.31 and a two-hundred day simple moving average of $69.43. The company has a quick ratio of 1.07, a current ratio of 1.58 and a debt-to-equity ratio of 0.07. Corteva has a twelve month low of $53.40 and a twelve month high of $77.41. The company has a market capitalization of $44.44 billion, a PE ratio of 28.10, a P/E/G ratio of 1.50 and a beta of 0.74.

Corteva (NYSE:CTVA) last released its quarterly earnings data on Tuesday, November 4th. The company reported ($0.23) EPS for the quarter, topping the consensus estimate of ($0.49) by $0.26. The firm had revenue of $2.62 billion for 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%.The company’s quarterly revenue was up 6.5% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.49) earnings per share. Research analysts expect that Corteva will post 2.96 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in CTVA. Moody National Bank Trust Division lifted its position in Corteva by 0.7% in the 2nd quarter. Moody National Bank Trust Division now owns 22,139 shares of the company’s stock valued at $1,650,000 after acquiring an additional 143 shares in the last quarter. Ancora Advisors LLC lifted its holdings in shares of Corteva by 0.8% during the first quarter. Ancora Advisors LLC now owns 18,567 shares of the company’s stock valued at $1,168,000 after purchasing an additional 150 shares in the last quarter. NORTHSTAR ASSET MANAGEMENT Co boosted its position in shares of Corteva by 2.2% during the second quarter. NORTHSTAR ASSET MANAGEMENT Co now owns 6,940 shares of the company’s stock valued at $517,000 after buying an additional 150 shares during the last quarter. NewEdge Advisors LLC increased its holdings in Corteva by 0.5% in the 1st quarter. NewEdge Advisors LLC now owns 31,455 shares of the company’s stock worth $1,979,000 after buying an additional 152 shares in the last quarter. Finally, Empirical Finance LLC raised its position in Corteva by 0.6% in the 2nd 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. Institutional investors own 81.54% of the company’s stock.

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.