Corteva (NYSE:CTVA) Raised to “Buy” at 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 note issued to investors on Tuesday.

Several other equities research analysts also recently commented on CTVA. Jefferies Financial Group cut their target price on shares of Corteva from $92.00 to $85.00 in a research report on Thursday, October 2nd. Barclays upgraded shares of Corteva from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $75.00 to $84.00 in a report on Wednesday, August 13th. Oppenheimer restated an “outperform” rating and issued a $76.00 price objective on shares of Corteva in a report on Friday, November 7th. BMO Capital Markets set a $86.00 target price on Corteva in a research report on Monday, September 15th. Finally, Wolfe Research upped their price target on Corteva from $79.00 to $80.00 and gave the company an “outperform” rating in a research report on Thursday, November 6th. Fifteen analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $78.05.

Corteva Stock Down 1.3%

Shares of CTVA opened at $66.57 on Tuesday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.07 and a current ratio of 1.58. Corteva has a 52 week low of $53.40 and a 52 week high of $77.41. The stock has a market capitalization of $44.99 billion, a price-to-earnings ratio of 28.45, a PEG ratio of 1.53 and a beta of 0.74. The stock has a fifty day moving average of $64.40 and a 200-day moving average of $69.68.

Corteva (NYSE:CTVA) last issued its earnings results on Tuesday, November 4th. The company reported ($0.23) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $2.47 billion. During the same quarter in the prior year, the firm earned ($0.49) EPS. The business’s revenue for the quarter was up 6.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that Corteva will post 2.96 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Corteva

Several large investors have recently added to or reduced their stakes in CTVA. Vanguard Group Inc. boosted its holdings in shares of Corteva by 0.5% during the 2nd quarter. Vanguard Group Inc. now owns 80,188,326 shares of the company’s stock worth $5,976,436,000 after buying an additional 373,680 shares in the last quarter. State Street Corp boosted its stake in Corteva by 3.6% during the third quarter. State Street Corp now owns 35,280,805 shares of the company’s stock worth $2,386,041,000 after acquiring an additional 1,230,074 shares in the last quarter. Franklin Resources Inc. grew its holdings in Corteva by 5.9% in the third quarter. Franklin Resources Inc. now owns 18,731,627 shares of the company’s stock worth $1,266,820,000 after purchasing an additional 1,051,389 shares during the period. Geode Capital Management LLC grew its holdings in Corteva by 1.4% in the second quarter. Geode Capital Management LLC now owns 18,047,263 shares of the company’s stock worth $1,339,651,000 after purchasing an additional 251,693 shares during the period. Finally, Independent Franchise Partners LLP increased its stake in Corteva by 1.8% in the first quarter. Independent Franchise Partners LLP now owns 16,785,300 shares of the company’s stock valued at $1,056,299,000 after purchasing an additional 288,792 shares in the last quarter. Institutional investors and hedge funds own 81.54% of the company’s stock.

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.