BNP Paribas Exane Raises Corteva (NYSE:CTVA) Price Target to $72.00

Corteva (NYSE:CTVA) had its price objective hoisted by equities research analysts at BNP Paribas Exane from $70.00 to $72.00 in a report issued on Monday,MarketScreener reports. The firm presently has a “neutral” rating on the stock. BNP Paribas Exane’s target price suggests a potential upside of 11.65% from the stock’s current price.

Other equities research analysts also recently issued reports about the stock. Argus reduced their price objective on shares of Corteva from $83.00 to $80.00 and set a “buy” rating on the stock in a research note on Monday, October 13th. Morgan Stanley set a $84.00 price objective on shares of Corteva in a research note on Monday, September 15th. UBS Group cut their target price on Corteva from $85.00 to $81.00 and set a “buy” rating for the company in a research note on Thursday, October 30th. Mizuho decreased their price target on Corteva from $85.00 to $78.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 8th. Finally, Jefferies Financial Group reduced their price objective on Corteva from $92.00 to $85.00 in a research note on Thursday, October 2nd. Fifteen investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $78.05.

Corteva Trading Down 0.0%

Shares of CTVA stock opened at $64.49 on Monday. The stock has a 50 day simple moving average of $65.36 and a 200 day simple moving average of $69.68. Corteva has a 1 year low of $53.40 and a 1 year high of $77.41. The company has a current ratio of 1.58, a quick ratio of 1.07 and a debt-to-equity ratio of 0.07. The stock has a market cap of $43.57 billion, a P/E ratio of 27.43, a price-to-earnings-growth ratio of 1.46 and a beta of 0.81.

Corteva (NYSE:CTVA) last released its earnings results on Tuesday, November 4th. The company reported ($0.23) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.49) by $0.26. The firm had revenue of $2.62 billion during the quarter, compared to the consensus estimate of $2.47 billion. Corteva had a return on equity of 9.37% and a net margin of 9.19%.The company’s revenue was up 6.5% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.49) EPS. On average, research analysts predict that Corteva will post 2.96 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Corteva news, EVP Robert D. King sold 37,280 shares of the business’s stock in a transaction that occurred on Friday, August 29th. The shares were sold at an average price of $74.20, for a total transaction of $2,766,176.00. Following the sale, the executive vice president directly owned 49,262 shares of the company’s stock, valued at $3,655,240.40. The trade was a 43.08% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.15% of the stock is owned by insiders.

Hedge Funds Weigh In On Corteva

Large investors have recently modified their holdings of the business. Peak Financial Advisors LLC purchased a new position in Corteva during the 2nd quarter worth $505,000. Cary Street Partners Financial LLC boosted its holdings in Corteva by 20.7% during the first quarter. Cary Street Partners Financial LLC now owns 90,206 shares of the company’s stock worth $5,677,000 after purchasing an additional 15,448 shares during the last quarter. PGGM Investments boosted its holdings in Corteva by 68.5% during the second quarter. PGGM Investments now owns 1,223,444 shares of the company’s stock worth $91,183,000 after purchasing an additional 497,200 shares during the last quarter. Goldman Sachs Group Inc. grew its position in Corteva by 28.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 2,851,993 shares of the company’s stock worth $179,476,000 after purchasing an additional 634,938 shares in the last quarter. Finally, S.E.E.D. Planning Group LLC increased its stake in Corteva by 70.3% in the 2nd quarter. S.E.E.D. Planning Group LLC now owns 164,393 shares of the company’s stock valued at $12,252,000 after buying an additional 67,869 shares during the last quarter. Institutional investors own 81.54% of the company’s stock.

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.