Rothschild & Co Redburn Lowers Corteva (NYSE:CTVA) Price Target to $65.00

Corteva (NYSE:CTVA) had its price target decreased by equities research analysts at Rothschild & Co Redburn from $71.00 to $65.00 in a research report issued to clients and investors on Tuesday,MarketScreener reports. The brokerage presently has a “neutral” rating on the stock. Rothschild & Co Redburn’s target price points to a potential downside of 1.88% from the company’s current price.

Several other equities research analysts have also recently weighed in on the company. Wells Fargo & Company decreased their target price on Corteva from $80.00 to $77.00 and set an “overweight” rating for the company in a research note on Tuesday. Citigroup boosted their price target on Corteva from $67.00 to $68.00 and gave the stock a “neutral” rating in a report on Thursday, November 6th. Zacks Research lowered shares of Corteva from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 30th. Wall Street Zen raised Corteva from a “hold” rating to a “buy” rating in a research report on Saturday, November 8th. Finally, Weiss Ratings cut Corteva from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, October 8th. Fifteen investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $78.39.

Corteva Stock Up 0.1%

Shares of Corteva stock traded up $0.04 during midday trading on Tuesday, hitting $66.24. The company had a trading volume of 124,035 shares, compared to its average volume of 4,031,464. Corteva has a 52-week low of $53.40 and a 52-week high of $77.41. The stock has a market capitalization of $44.76 billion, a P/E ratio of 28.29, a P/E/G ratio of 1.51 and a beta of 0.81. The company has a 50 day moving average of $65.83 and a 200 day moving average of $69.52. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.07 and a current ratio of 1.58.

Corteva (NYSE:CTVA) last released its earnings results on Tuesday, November 4th. The company reported ($0.23) 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 quarterly revenue was up 6.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.49) earnings per share. On average, equities analysts predict that Corteva will post 2.96 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Corteva news, EVP Robert D. King sold 37,280 shares of the company’s stock in a transaction dated Friday, August 29th. The stock was sold at an average price of $74.20, for a total transaction of $2,766,176.00. Following the sale, the executive vice president owned 49,262 shares in the company, valued at $3,655,240.40. This represents a 43.08% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.14% of the stock is owned by insiders.

Institutional Trading of Corteva

Hedge funds have recently added to or reduced their stakes in the company. Brighton Jones LLC increased its stake in Corteva by 307.2% in the fourth quarter. Brighton Jones LLC now owns 15,588 shares of the company’s stock valued at $888,000 after purchasing an additional 11,760 shares during the period. Apollon Wealth Management LLC increased its position in Corteva by 7.3% in the 1st quarter. Apollon Wealth Management LLC now owns 7,394 shares of the company’s stock valued at $465,000 after acquiring an additional 503 shares during the period. Victory Capital Management Inc. raised its stake in Corteva by 9.9% during the 1st quarter. Victory Capital Management Inc. now owns 340,568 shares of the company’s stock valued at $21,432,000 after acquiring an additional 30,620 shares during the last quarter. Cullen Frost Bankers Inc. lifted its position in Corteva by 20.8% during the 1st quarter. Cullen Frost Bankers Inc. now owns 6,037 shares of the company’s stock worth $380,000 after acquiring an additional 1,038 shares during the period. Finally, Graypoint LLC grew its stake in shares of Corteva by 17.5% in the 1st quarter. Graypoint LLC now owns 4,177 shares of the company’s stock valued at $263,000 after purchasing an additional 621 shares during 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.