Deutsche Bank Aktiengesellschaft Lowers Corteva (NYSE:CTVA) Price Target to $85.00

Corteva (NYSE:CTVA) had its price target decreased by stock analysts at Deutsche Bank Aktiengesellschaft from $90.00 to $85.00 in a research note issued on Thursday,MarketScreener reports. The firm currently has a “buy” rating on the stock. Deutsche Bank Aktiengesellschaft’s price objective would indicate a potential upside of 32.72% from the company’s previous close.

Other analysts have also issued research reports about the company. Morgan Stanley set a $84.00 price objective on Corteva in a research note on Monday, September 15th. Oppenheimer reissued an “outperform” rating and issued a $76.00 price target on shares of Corteva in a report on Friday. UBS Group decreased their price objective on shares of Corteva from $85.00 to $81.00 and set a “buy” rating on the stock in a research report on Thursday, October 30th. Jefferies Financial Group dropped their target price on shares of Corteva from $92.00 to $85.00 in a report on Thursday, October 2nd. Finally, Wolfe Research reduced their price target on Corteva from $80.00 to $79.00 and set an “outperform” rating on the stock in a report on Monday, October 27th. Fifteen investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $79.35.

Corteva Trading Up 1.4%

NYSE:CTVA traded up $0.90 during trading hours on Thursday, reaching $64.05. The company’s stock had a trading volume of 3,686,819 shares, compared to its average volume of 4,515,587. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.23 and a current ratio of 1.58. The firm has a market capitalization of $43.49 billion, a price-to-earnings ratio of 27.37, a PEG ratio of 1.40 and a beta of 0.81. The firm has a 50-day simple moving average of $66.41 and a 200-day simple moving average of $69.38. Corteva has a 1 year low of $53.40 and a 1 year high of $77.41.

Corteva (NYSE:CTVA) last announced its quarterly earnings data on Tuesday, November 4th. The company reported ($0.23) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.49) by $0.26. The firm had revenue of $2.62 billion for the quarter, compared to analysts’ expectations of $2.47 billion. Corteva had a return on equity of 9.37% and a net margin of 9.19%.The company’s revenue for the quarter was up 6.5% compared to the same quarter last year. During the same period last year, the firm earned ($0.49) earnings per share. Research analysts expect that Corteva will post 2.96 EPS for the current fiscal year.

Insider Activity

In other news, EVP Robert D. King sold 37,280 shares of the firm’s stock in a transaction that occurred on Friday, August 29th. The stock was sold at an average price of $74.20, for a total value of $2,766,176.00. Following the completion of the transaction, the executive vice president owned 49,262 shares in the company, valued at $3,655,240.40. This trade represents a 43.08% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.14% of the company’s stock.

Hedge Funds Weigh In On Corteva

Several institutional investors and hedge funds have recently added to or reduced their stakes in CTVA. Peak Financial Advisors LLC bought a new stake in shares of Corteva in the second quarter worth about $505,000. Cary Street Partners Financial LLC increased its stake in Corteva by 20.7% in the 1st quarter. Cary Street Partners Financial LLC now owns 90,206 shares of the company’s stock worth $5,677,000 after acquiring an additional 15,448 shares during the last quarter. PGGM Investments raised its holdings in shares of Corteva by 68.5% during the 2nd quarter. PGGM Investments now owns 1,223,444 shares of the company’s stock worth $91,183,000 after acquiring an additional 497,200 shares in the last quarter. Goldman Sachs Group Inc. boosted its position in shares of Corteva by 28.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,851,993 shares of the company’s stock valued at $179,476,000 after acquiring an additional 634,938 shares during the last quarter. Finally, S.E.E.D. Planning Group LLC grew its holdings in shares of Corteva by 70.3% in the second quarter. S.E.E.D. Planning Group LLC now owns 164,393 shares of the company’s stock valued at $12,252,000 after purchasing an additional 67,869 shares in the last quarter. Hedge funds and other institutional investors 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.