Corteva (NYSE:CTVA - Get Free Report) had its price target boosted by research analysts at KeyCorp from $68.00 to $70.00 in a report released on Friday,Benzinga reports. The firm currently has an "overweight" rating on the stock. KeyCorp's target price would suggest a potential upside of 8.79% from the company's previous close.
A number of other analysts also recently commented on CTVA. Oppenheimer reissued an "outperform" rating and issued a $70.00 price objective (up previously from $69.00) on shares of Corteva in a research note on Friday, November 8th. UBS Group dropped their target price on Corteva from $74.00 to $73.00 and set a "buy" rating on the stock in a research report on Friday, January 10th. Barclays boosted their price target on Corteva from $62.00 to $64.00 and gave the stock an "equal weight" rating in a research report on Tuesday, January 21st. Wells Fargo & Company boosted their price target on Corteva from $67.00 to $73.00 and gave the company an "overweight" rating in a research note on Tuesday, January 28th. Finally, Citigroup upped their price objective on Corteva from $69.00 to $74.00 and gave the company a "buy" rating in a research note on Wednesday, January 29th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $67.19.
Get Our Latest Stock Analysis on CTVA
NYSE:CTVA traded up $1.99 during mid-day trading on Friday, hitting $64.35. 256,239 shares of the company's stock traded hands, compared to its average volume of 3,586,620. Corteva has a 1 year low of $50.01 and a 1 year high of $66.24. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.96 and a current ratio of 1.50. The firm's 50 day simple moving average is $60.22 and its 200 day simple moving average is $58.14. The company has a market cap of $44.22 billion, a PE ratio of 65.01, a price-to-earnings-growth ratio of 1.71 and a beta of 0.78.
Corteva (NYSE:CTVA - Get Free Report) last posted its quarterly earnings data on Wednesday, February 5th. The company reported $0.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.34 by ($0.02). Corteva had a return on equity of 6.63% and a net margin of 4.18%. Sell-side analysts expect that Corteva will post 2.58 EPS for the current year.
Corteva announced that its board has initiated a stock repurchase plan on Tuesday, November 19th that authorizes the company to repurchase $3.00 billion in shares. This repurchase authorization authorizes the company to repurchase up to 7.5% of its shares through open market purchases. Shares repurchase plans are often an indication that the company's board of directors believes its shares are undervalued.
Large investors have recently modified their holdings of the business. Noble Wealth Management PBC acquired a new position in Corteva in the 4th quarter worth about $26,000. Hager Investment Management Services LLC acquired a new position in Corteva during the 4th quarter worth about $27,000. Golden State Wealth Management LLC purchased a new position in shares of Corteva in the fourth quarter valued at approximately $32,000. Capital Advisors Ltd. LLC increased its position in shares of Corteva by 44.4% during the third quarter. Capital Advisors Ltd. LLC now owns 566 shares of the company's stock worth $33,000 after acquiring an additional 174 shares during the period. Finally, Centricity Wealth Management LLC purchased a new position in shares of Corteva in the 4th quarter valued at about $34,000. Hedge funds and other institutional investors own 81.54% of the company's stock.
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.
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