Canaccord Genuity Group Raises Corteva (NYSE:CTVA) Price Target to $65.00

Corteva (NYSE:CTVA) had its target price hoisted by Canaccord Genuity Group from $60.00 to $65.00 in a research report issued on Friday, Benzinga reports. The firm presently has a “buy” rating on the stock. Canaccord Genuity Group’s price target suggests a potential upside of 13.70% from the company’s current price.

Other equities research analysts have also issued reports about the company. Royal Bank of Canada raised their target price on Corteva from $56.00 to $64.00 and gave the company an “outperform” rating in a research report on Friday, February 2nd. BMO Capital Markets raised their price target on Corteva from $64.00 to $67.00 and gave the company an “outperform” rating in a report on Friday. Mizuho raised their price objective on Corteva from $56.00 to $61.00 and gave the company a “buy” rating in a report on Thursday. KeyCorp raised their price objective on Corteva from $63.00 to $66.00 and gave the company an “overweight” rating in a report on Tuesday, April 9th. Finally, JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $57.00 price target (down from $58.00) on shares of Corteva in a research note on Friday, April 12th. Six analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $63.38.

Corteva Stock Up 0.3 %

Shares of NYSE:CTVA traded up $0.19 during trading on Friday, reaching $57.17. 2,977,558 shares of the stock were exchanged, compared to its average volume of 3,547,653. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.56 and a quick ratio of 0.90. Corteva has a 1-year low of $43.22 and a 1-year high of $60.57. The stock has a fifty day moving average of $55.33 and a two-hundred day moving average of $50.61. The firm has a market cap of $39.95 billion, a price-to-earnings ratio of 72.35, a price-to-earnings-growth ratio of 1.41 and a beta of 0.78.

Corteva (NYSE:CTVA) last announced its earnings results on Wednesday, May 1st. The company reported $0.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.79 by $0.10. Corteva had a return on equity of 6.63% and a net margin of 3.32%. The firm had revenue of $4.49 billion during the quarter, compared to analyst estimates of $4.65 billion. During the same period last year, the firm posted $1.16 EPS. The business’s revenue was down 8.0% compared to the same quarter last year. Research analysts anticipate that Corteva will post 2.84 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Corteva

Institutional investors and hedge funds have recently bought and sold shares of the company. &PARTNERS raised its position in shares of Corteva by 4.3% in the 1st quarter. &PARTNERS now owns 4,829 shares of the company’s stock worth $278,000 after acquiring an additional 200 shares in the last quarter. Essex Financial Services Inc. boosted its holdings in Corteva by 3.2% in the third quarter. Essex Financial Services Inc. now owns 6,883 shares of the company’s stock worth $352,000 after acquiring an additional 215 shares in the last quarter. Baxter Bros Inc. grew its stake in shares of Corteva by 1.2% during the fourth quarter. Baxter Bros Inc. now owns 17,576 shares of the company’s stock worth $842,000 after acquiring an additional 215 shares during the last quarter. Albion Financial Group UT raised its position in shares of Corteva by 77.2% in the 1st quarter. Albion Financial Group UT now owns 505 shares of the company’s stock valued at $29,000 after purchasing an additional 220 shares during the last quarter. Finally, NewSquare Capital LLC boosted its stake in Corteva by 70.6% in the 3rd quarter. NewSquare Capital LLC now owns 546 shares of the company’s stock worth $28,000 after purchasing an additional 226 shares in the last quarter. 81.54% of the stock is owned by 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.