Corteva (NYSE:CTVA) Given New $74.00 Price Target at Citigroup

Corteva (NYSE:CTVA) had its price target lifted by investment analysts at Citigroup from $70.00 to $74.00 in a research note issued to investors on Wednesday,MarketScreener reports. The brokerage presently has a “neutral” rating on the stock. Citigroup’s target price would indicate a potential upside of 4.54% from the stock’s previous close.

A number of other analysts also recently weighed in on the company. Argus upgraded Corteva to a “strong-buy” rating in a report on Friday, January 16th. The Goldman Sachs Group lifted their target price on Corteva from $77.00 to $78.00 and gave the stock a “buy” rating in a report on Tuesday, December 16th. Deutsche Bank Aktiengesellschaft cut their price target on Corteva from $90.00 to $85.00 and set a “buy” rating on the stock in a report on Thursday, November 6th. Rothschild & Co Redburn dropped their target price on shares of Corteva from $71.00 to $65.00 and set a “neutral” rating on the stock in a research report on Tuesday, November 11th. Finally, Mizuho raised their price target on shares of Corteva from $78.00 to $80.00 and gave the stock an “outperform” rating in a report on Friday, January 16th. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and seven have issued a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $79.47.

Corteva Price Performance

Shares of NYSE CTVA traded up $1.89 during midday trading on Wednesday, reaching $70.79. 731,354 shares of the company were exchanged, compared to its average volume of 3,376,534. The stock’s 50-day moving average price is $66.94 and its 200-day moving average price is $68.45. The stock has a market cap of $47.83 billion, a P/E ratio of 30.25, a PEG ratio of 1.41 and a beta of 0.74. Corteva has a one year low of $53.40 and a one year high of $77.41. The company has a quick ratio of 1.07, a current ratio of 1.58 and a debt-to-equity ratio of 0.07.

Corteva (NYSE:CTVA) last released its quarterly earnings results on Tuesday, November 4th. The company reported ($0.23) earnings per share for the quarter, topping the consensus estimate of ($0.49) by $0.26. The company 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 business’s quarterly revenue was up 6.5% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.49) earnings per share. On average, sell-side analysts anticipate that Corteva will post 2.96 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Brighton Jones LLC boosted its stake in Corteva by 307.2% in the 4th quarter. Brighton Jones LLC now owns 15,588 shares of the company’s stock worth $888,000 after purchasing an additional 11,760 shares during the period. Woodline Partners LP grew its stake in Corteva by 40.3% during the first quarter. Woodline Partners LP now owns 57,919 shares of the company’s stock valued at $3,645,000 after acquiring an additional 16,644 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 valued at $394,000 after acquiring an additional 895 shares in the last quarter. Sowell Financial Services LLC increased its holdings in Corteva by 12.0% during the 2nd quarter. Sowell Financial Services LLC now owns 7,024 shares of the company’s stock worth $524,000 after acquiring an additional 754 shares during the period. Finally, Park Avenue Securities LLC lifted its stake in Corteva by 41.1% in the 2nd quarter. Park Avenue Securities LLC now owns 27,036 shares of the company’s stock worth $2,015,000 after purchasing an additional 7,873 shares in the last quarter. Hedge funds and other institutional investors own 81.54% of the company’s stock.

Corteva Company Profile

Corteva, Inc (NYSE: CTVA) is an independent global agriculture company that was established as a publicly traded firm in mid?2019 following the separation of the agriculture businesses from DowDuPont. The company focuses on delivering technologies and products that help farmers increase productivity and manage crop health. Corteva’s operations combine seed genetics, crop protection chemistries, digital tools and biological solutions to address the full cycle of crop production.

Core business activities include research and development of seed genetics and trait technologies, formulation and sale of crop protection products (such as herbicides, insecticides and fungicides), and the development of seed treatments and biologicals.