Corteva (NYSE:CTVA) Downgraded by Wall Street Zen to “Hold”

Corteva (NYSE:CTVA) was downgraded by equities researchers at Wall Street Zen from a “buy” rating to a “hold” rating in a note issued to investors on Wednesday.

A number of other equities analysts have also recently weighed in on the stock. Jefferies Financial Group reduced their price objective on shares of Corteva from $92.00 to $85.00 in a research report on Thursday, October 2nd. KeyCorp reissued a “sector weight” rating on shares of Corteva in a research note on Friday, October 3rd. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Corteva from $90.00 to $85.00 and set a “buy” rating on the stock in a research note on Thursday, November 6th. Weiss Ratings reiterated a “hold (c)” rating on shares of Corteva in a research note on Monday. Finally, Royal Bank Of Canada reduced their target price on Corteva from $86.00 to $80.00 and set an “outperform” rating for the company in a report on Friday, October 17th. Fifteen equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $78.05.

Corteva Stock Performance

Shares of CTVA stock opened at $65.85 on Wednesday. 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 has a 12-month low of $53.40 and a 12-month high of $77.41. The business’s 50 day moving average is $64.09 and its two-hundred day moving average is $69.55. The company has a market capitalization of $44.50 billion, a P/E ratio of 28.14, a P/E/G ratio of 1.48 and a beta of 0.74.

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

Institutional Trading of Corteva

Large investors have recently added to or reduced their stakes in the stock. Gladwyn Financial Advisors Inc. purchased a new position in shares of Corteva during the 2nd quarter worth $25,000. Activest Wealth Management increased its position in Corteva by 118.3% during the third quarter. Activest Wealth Management now owns 369 shares of the company’s stock worth $25,000 after purchasing an additional 200 shares during the last quarter. JPL Wealth Management LLC acquired a new stake in Corteva during the third quarter worth about $25,000. True Wealth Design LLC raised its stake in Corteva by 209.5% during the third quarter. True Wealth Design LLC now owns 390 shares of the company’s stock worth $26,000 after purchasing an additional 264 shares during the period. Finally, Total Investment Management Inc. acquired a new position in Corteva in the 2nd quarter valued at about $27,000. 81.54% of the stock is currently owned by hedge funds and other institutional investors.

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.