Corteva (NYSE:CTVA) Price Target Raised to $84.00

Corteva (NYSE:CTVA) had its price objective upped by KeyCorp from $72.00 to $84.00 in a report issued on Monday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. KeyCorp’s price objective points to a potential upside of 14.29% from the stock’s current price.

Several other research firms have also issued reports on CTVA. Citigroup raised their price target on shares of Corteva from $75.00 to $78.00 and gave the stock a “buy” rating in a research report on Friday, May 9th. Wells Fargo & Company raised their price objective on shares of Corteva from $79.00 to $82.00 and gave the stock an “overweight” rating in a report on Monday, June 23rd. UBS Group raised their price objective on shares of Corteva from $76.00 to $90.00 and gave the stock a “buy” rating in a report on Wednesday, July 9th. Jefferies Financial Group reaffirmed a “buy” rating on shares of Corteva in a report on Friday, June 6th. Finally, BMO Capital Markets raised their price objective on shares of Corteva from $74.00 to $86.00 and gave the stock an “outperform” rating in a report on Tuesday, July 8th. Three investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $76.46.

Corteva Stock Performance

Shares of CTVA opened at $73.50 on Monday. The company’s fifty day moving average is $71.45 and its 200-day moving average is $64.70. Corteva has a 12 month low of $50.30 and a 12 month high of $77.41. The firm has a market cap of $50.14 billion, a price-to-earnings ratio of 44.82, a price-to-earnings-growth ratio of 1.88 and a beta of 0.76. The company has a quick ratio of 1.00, a current ratio of 1.44 and a debt-to-equity ratio of 0.07.

Corteva (NYSE:CTVA) last announced its quarterly earnings results on Wednesday, May 7th. The company reported $1.13 EPS for the quarter, topping the consensus estimate of $0.88 by $0.25. Corteva had a net margin of 6.77% and a return on equity of 7.84%. The company had revenue of $4.42 billion for the quarter, compared to analyst estimates of $4.56 billion. During the same quarter in the prior year, the business posted $0.89 EPS. Corteva’s quarterly revenue was down 1.7% on a year-over-year basis. Equities analysts expect that Corteva will post 2.96 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Sowell Financial Services LLC raised its position in Corteva by 12.0% during the second quarter. Sowell Financial Services LLC now owns 7,024 shares of the company’s stock worth $524,000 after acquiring an additional 754 shares in the last quarter. Farther Finance Advisors LLC grew its stake in Corteva by 20.4% during the second quarter. Farther Finance Advisors LLC now owns 5,282 shares of the company’s stock worth $394,000 after buying an additional 895 shares in the last quarter. Busey Bank grew its stake in Corteva by 51.9% during the second quarter. Busey Bank now owns 5,127 shares of the company’s stock worth $382,000 after buying an additional 1,752 shares in the last quarter. Assenagon Asset Management S.A. boosted its stake in shares of Corteva by 4,769.2% in the 2nd quarter. Assenagon Asset Management S.A. now owns 1,924,419 shares of the company’s stock valued at $143,427,000 after purchasing an additional 1,884,897 shares in the last quarter. Finally, IFM Investors Pty Ltd boosted its stake in shares of Corteva by 2.6% in the 2nd quarter. IFM Investors Pty Ltd now owns 142,494 shares of the company’s stock valued at $10,620,000 after purchasing an additional 3,639 shares in the last quarter. Institutional investors and hedge funds own 81.54% of the company’s stock.

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.