Corteva (NYSE:CTVA) Stock Rating Upgraded by Wall Street Zen

Corteva (NYSE:CTVA) was upgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research note issued to investors on Saturday.

CTVA has been the subject of several other research reports. Oppenheimer reiterated an “outperform” rating and issued a $76.00 target price on shares of Corteva in a research note on Friday, November 7th. Royal Bank Of Canada cut their price target on Corteva from $86.00 to $80.00 and set an “outperform” rating for the company in a report on Friday, October 17th. Zacks Research lowered Corteva from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 30th. JPMorgan Chase & Co. upgraded Corteva from a “neutral” rating to an “overweight” rating and set a $67.00 price objective on the stock in a research report on Thursday, October 2nd. Finally, Deutsche Bank Aktiengesellschaft cut their target price on Corteva from $90.00 to $85.00 and set a “buy” rating for the company in a research note on Thursday, November 6th. Sixteen equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $78.21.

Corteva Trading Down 0.9%

Shares of Corteva stock opened at $66.39 on Friday. Corteva has a 1 year low of $53.40 and a 1 year high of $77.41. The company’s fifty day simple moving average is $64.54 and its 200-day simple moving average is $69.30. The company has a market cap of $44.86 billion, a price-to-earnings ratio of 28.37, a PEG ratio of 1.50 and a beta of 0.74. The company has a current ratio of 1.58, a quick ratio of 1.07 and a debt-to-equity ratio of 0.07.

Corteva (NYSE:CTVA) last issued its quarterly earnings results on Tuesday, November 4th. The company reported ($0.23) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.49) by $0.26. The firm had revenue of $2.62 billion during the quarter, compared to the consensus estimate of $2.47 billion. Corteva had a net margin of 9.19% and a return on equity of 9.37%. The business’s revenue was up 6.5% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.49) EPS. As a group, sell-side analysts expect that Corteva will post 2.96 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in CTVA. Moody National Bank Trust Division grew its holdings in shares of Corteva by 0.7% in the 2nd quarter. Moody National Bank Trust Division now owns 22,139 shares of the company’s stock worth $1,650,000 after purchasing an additional 143 shares during the last quarter. Ancora Advisors LLC lifted its holdings in Corteva by 0.8% during the 1st 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 during the last quarter. NORTHSTAR ASSET MANAGEMENT Co boosted its position in Corteva by 2.2% in 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 in the last quarter. NewEdge Advisors LLC grew its stake in Corteva by 0.5% during the first quarter. NewEdge Advisors LLC now owns 31,455 shares of the company’s stock worth $1,979,000 after buying an additional 152 shares during the last quarter. Finally, Empirical Finance LLC increased its holdings in shares of Corteva by 0.6% during 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 in the last quarter. 81.54% of the stock is owned by institutional investors.

Corteva Company Profile

Corteva, Inc (NYSE: CTVA) is an independent global agriculture company that was established as a publicly traded firm in mid‑2019 following the separation of the agriculture businesses from DowDuPont. The company focuses on delivering technologies and products that help farmers increase productivity and manage crop health. Corteva’s operations combine seed genetics, crop protection chemistries, digital tools and biological solutions to address the full cycle of crop production.

Core business activities include research and development of seed genetics and trait technologies, formulation and sale of crop protection products (such as herbicides, insecticides and fungicides), and the development of seed treatments and biologicals.