Corteva (NYSE:CTVA) Price Target Cut to $11.00 by Analysts at Royal Bank Of Canada

Corteva (NYSE:CTVA) had its price target lowered by investment analysts at Royal Bank Of Canada from $17.00 to $11.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Royal Bank Of Canada‘s price objective points to a potential upside of 18.06% from the stock’s current price.

Several other equities analysts also recently weighed in on the stock. The Goldman Sachs Group reiterated a “buy” rating and issued a $20.00 target price on shares of Corteva in a research note on Thursday, October 8th. Zacks Research lowered shares of Corteva from a “hold” rating to a “strong sell” rating in a research note on Tuesday, October 6th. Mizuho set a $16.00 price target on Corteva in a report on Thursday. Weiss Ratings cut Corteva from a “hold (c+)” rating to a “hold (c)” rating in a research report on Monday, August 3rd. Finally, JPMorgan Chase & Co. upgraded shares of Corteva from a “neutral” rating to an “overweight” rating and set a $19.00 price objective for the company in a research report on Tuesday, October 6th. Sixteen analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $56.64.

Corteva Stock Performance

Shares of CTVA stock traded up $0.13 on Friday, hitting $9.32. 5,173,987 shares of the stock were exchanged, compared to its average volume of 8,271,338. The firm’s 50 day moving average is $38.81 and its two-hundred day moving average is $69.88. Corteva has a one year low of $9.01 and a one year high of $90.97. The firm has a market capitalization of $6.22 billion, a PE ratio of 6.19, a P/E/G ratio of 1.69 and a beta of 0.58. The company has a current ratio of 1.52, a quick ratio of 1.10 and a debt-to-equity ratio of 0.07.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. purchased a new position in shares of Corteva in the 2nd quarter worth about $4,560,180,000. Wellington Management Group LLP raised its stake in shares of Corteva by 941.7% in the second quarter. Wellington Management Group LLP now owns 7,612,704 shares of the company’s stock worth $644,720,000 after purchasing an additional 6,881,875 shares during the last quarter. Royal Bank of Canada lifted its holdings in shares of Corteva by 202.1% during the first quarter. Royal Bank of Canada now owns 7,458,624 shares of the company’s stock valued at $624,362,000 after purchasing an additional 4,989,371 shares in the last quarter. Jupiter Topco LLC purchased a new stake in shares of Corteva during the second quarter valued at $544,246,000. Finally, Bank of America Corp DE bought a new position in Corteva during the 2nd quarter valued at about $484,927,000. 81.54% of the stock is currently owned by institutional investors.

Corteva News Summary

Investors following CTVA have been watching these news items:

• Positive Sentiment: Corteva said strong growth in new-product sales and operational execution helped cushion market headwinds. Reported adjusted third-quarter EPS of $0.06 also topped FactSet’s $0.02 estimate, though other measures of the quarter and the outlook disappointed investors. Corteva third-quarter results and outlook
• Neutral Sentiment: Unusually active options trading included a rise in call-option purchases, but this may reflect speculative positioning rather than a clear change in the company’s fundamentals.
• Negative Sentiment: Investors also faced pressure from weaker sales, lower volumes and competitive pricing, including pricing headwinds in North and Latin America. The combination of Brazil’s deterioration and the reduced forecast drove the sharp selloff despite some positive product and EPS details. Zacks analysis of Corteva’s third-quarter results

Corteva Company Profile

Corteva, Inc. is an agricultural science company that develops and supplies products and services for farmers. Its business focuses on seeds and crop protection, including technologies intended to help improve crop performance and manage weeds, insects, and plant diseases. Its seed portfolio includes corn, soybean, and other crop varieties, sold under brands such as Pioneer and Brevant. Corteva’s crop protection offerings include herbicides, insecticides, fungicides, and biological products, alongside digital tools and services that support farm decision-making.