Corteva (NYSE:CTVA) Receives $30.94 Average Price Target from Brokerages

Shares of Corteva (NYSE:CTVA) have been given a consensus rating of “Hold” by the twenty-three ratings firms that are covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and twelve have issued a buy rating on the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $30.94.

A number of analysts have weighed in on the company. Credit Suisse Group lowered their price target on Corteva from $31.00 to $28.00 and set a “neutral” rating on the stock in a research report on Friday, August 7th. Cleveland Research started coverage on shares of Corteva in a research report on Friday, June 26th. They set a “neutral” rating for the company. Bank of America lowered shares of Corteva from a “buy” rating to a “neutral” rating and reduced their price target for the company from $32.00 to $28.00 in a research report on Monday, August 10th. Loop Capital dropped their price objective on shares of Corteva from $32.00 to $30.00 and set a “hold” rating for the company in a report on Tuesday, August 18th. Finally, BofA Securities cut shares of Corteva from a “buy” rating to a “neutral” rating and set a $28.00 target price for the company. in a research note on Monday, August 10th.

Shares of Corteva stock opened at $34.08 on Thursday. The firm has a market cap of $25.51 billion, a P/E ratio of 50.12, a price-to-earnings-growth ratio of 2.71 and a beta of 0.82. The firm’s 50-day simple moving average is $29.77 and its 200-day simple moving average is $27.40. Corteva has a twelve month low of $20.38 and a twelve month high of $34.41. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.44 and a current ratio of 1.92.

Corteva (NYSE:CTVA) last released its quarterly earnings data on Wednesday, August 5th. The company reported $1.26 earnings per share for the quarter, beating analysts’ consensus estimates of $1.20 by $0.06. Corteva had a return on equity of 4.67% and a net margin of 3.68%. The company had revenue of $5.19 billion for the quarter, compared to the consensus estimate of $5.36 billion. On average, equities analysts forecast that Corteva will post 1.36 earnings per share for the current fiscal year.

In other Corteva news, SVP Cornel B. Fuerer acquired 2,000 shares of the business’s stock in a transaction that occurred on Monday, August 10th. The shares were acquired at an average cost of $25.01 per share, for a total transaction of $50,020.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Rajan Gajaria acquired 2,010 shares of Corteva stock in a transaction on Monday, August 10th. The stock was acquired at an average cost of $25.20 per share, for a total transaction of $50,652.00. The disclosure for this purchase can be found here. Insiders have bought 9,010 shares of company stock worth $227,172 in the last ninety days. 0.22% of the stock is currently owned by insiders.

Several hedge funds have recently bought and sold shares of CTVA. Campbell Wealth Management acquired a new stake in shares of Corteva during the second quarter worth $30,000. Beese Fulmer Investment Management Inc. acquired a new position in shares of Corteva during the 2nd quarter worth about $35,000. Clean Yield Group increased its stake in shares of Corteva by 133.3% in the 3rd quarter. Clean Yield Group now owns 1,437 shares of the company’s stock valued at $41,000 after acquiring an additional 821 shares during the last quarter. AJO LP bought a new stake in shares of Corteva in the 2nd quarter valued at about $44,000. Finally, Meeder Asset Management Inc. raised its position in shares of Corteva by 35.6% in the 1st quarter. Meeder Asset Management Inc. now owns 2,221 shares of the company’s stock valued at $52,000 after acquiring an additional 583 shares during the period. 78.27% of the stock is currently owned by institutional investors.

About Corteva

Corteva, Inc provides agriculture products worldwide. The company develops and supplies germplasm and traits in corn, soybean, and sunflower seed markets. It also supplies products to the agricultural input industry that protect against weeds, insects and other pests, and diseases, as well as to enhance crop health.

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Analyst Recommendations for Corteva (NYSE:CTVA)

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