Corteva (NYSE:CTVA) Given New $82.00 Price Target at Wells Fargo & Company

Corteva (NYSE:CTVA) had its price target hoisted by equities research analysts at Wells Fargo & Company from $79.00 to $82.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Wells Fargo & Company‘s price target suggests a potential upside of 11.77% from the stock’s previous close.

CTVA has been the topic of several other research reports. Barclays upped their target price on Corteva from $64.00 to $70.00 and gave the company an “equal weight” rating in a report on Wednesday, May 14th. Jefferies Financial Group restated a “buy” rating on shares of Corteva in a research report on Friday, June 6th. Oppenheimer restated an “outperform” rating and issued a $75.00 price objective (up from $72.00) on shares of Corteva in a research report on Friday, May 9th. Morgan Stanley upped their price objective on Corteva from $65.00 to $71.00 and gave the company an “overweight” rating in a research report on Friday, May 9th. Finally, KeyCorp upped their price objective on Corteva from $71.00 to $72.00 and gave the company an “overweight” rating in a research report on Friday, May 9th. Three investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $72.08.

Corteva Stock Down 1.4%

Corteva stock opened at $73.37 on Monday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.00 and a current ratio of 1.44. The firm has a market capitalization of $50.05 billion, a price-to-earnings ratio of 44.74, a price-to-earnings-growth ratio of 1.90 and a beta of 0.75. Corteva has a fifty-two week low of $50.30 and a fifty-two week high of $74.96. The stock’s fifty day moving average is $67.70 and its two-hundred day moving average is $63.09.

Corteva (NYSE:CTVA) last posted its earnings results on Wednesday, May 7th. The company reported $1.13 earnings per share for the quarter, beating the consensus estimate of $0.88 by $0.25. The company had revenue of $4.42 billion for the quarter, compared to analyst estimates of $4.56 billion. Corteva had a return on equity of 7.84% and a net margin of 6.77%. Corteva’s revenue was down 1.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.89 earnings per share. Analysts predict that Corteva will post 2.96 EPS for the current fiscal year.

Hedge Funds Weigh In On Corteva

Several large investors have recently added to or reduced their stakes in the business. Ancora Advisors LLC lifted its position in Corteva by 0.8% during the first quarter. Ancora Advisors LLC now owns 18,567 shares of the company’s stock worth $1,168,000 after buying an additional 150 shares during the period. NewEdge Advisors LLC lifted its position 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 period. Plancorp LLC lifted its position in Corteva by 2.3% during the first quarter. Plancorp LLC now owns 7,156 shares of the company’s stock worth $450,000 after buying an additional 158 shares during the period. Lake Street Advisors Group LLC lifted its position in Corteva by 3.7% during the fourth quarter. Lake Street Advisors Group LLC now owns 4,514 shares of the company’s stock worth $257,000 after buying an additional 160 shares during the period. Finally, Legacy Financial Advisors Inc. increased its stake in Corteva by 4.4% during the first quarter. Legacy Financial Advisors Inc. now owns 3,761 shares of the company’s stock worth $237,000 after acquiring an additional 160 shares during the last quarter. 81.54% of the stock is currently owned by hedge funds and other institutional investors.

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.