Corteva (NYSE:CTVA) Price Target Raised to $80.00 at Mizuho

Corteva (NYSE:CTVA) had its target price increased by equities research analysts at Mizuho from $78.00 to $80.00 in a report released on Friday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Mizuho’s price objective points to a potential upside of 13.62% from the company’s current price.

Several other equities research analysts have also weighed in on the stock. Argus cut their target price on shares of Corteva from $83.00 to $80.00 and set a “buy” rating on the stock in a report on Monday, October 13th. Zacks Research lowered Corteva from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 30th. JPMorgan Chase & Co. raised Corteva from a “neutral” rating to an “overweight” rating and set a $67.00 target price for the company in a research note on Thursday, October 2nd. Bank of America raised their price target on Corteva from $80.00 to $82.00 and gave the stock a “buy” rating in a research report on Thursday, January 8th. Finally, Deutsche Bank Aktiengesellschaft decreased their price objective on Corteva from $90.00 to $85.00 and set a “buy” rating for the company in a research report on Thursday, November 6th. Sixteen equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $78.79.

Corteva Stock Up 0.7%

NYSE:CTVA opened at $70.41 on Friday. 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 has a 12-month low of $53.40 and a 12-month high of $77.41. The stock’s fifty day simple moving average is $66.68 and its 200-day simple moving average is $68.70. The firm has a market capitalization of $47.58 billion, a P/E ratio of 30.09, a P/E/G ratio of 1.41 and a beta of 0.74.

Corteva (NYSE:CTVA) last released its earnings results on Tuesday, November 4th. The company reported ($0.23) earnings per share for the quarter, beating the consensus estimate of ($0.49) by $0.26. The firm had revenue of $2.62 billion for the quarter, compared to analyst estimates 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. Equities research analysts expect that Corteva will post 2.96 earnings per share for the current year.

Institutional Trading of Corteva

Hedge funds and other institutional investors have recently made changes to their positions in the business. Moody National Bank Trust Division grew its position in Corteva by 0.7% in the second quarter. Moody National Bank Trust Division now owns 22,139 shares of the company’s stock valued at $1,650,000 after purchasing an additional 143 shares in the last quarter. NORTHSTAR ASSET MANAGEMENT Co boosted its stake in shares of Corteva by 2.2% during the 2nd quarter. NORTHSTAR ASSET MANAGEMENT Co now owns 6,940 shares of the company’s stock worth $517,000 after buying an additional 150 shares during the last quarter. Empirical Finance LLC grew its holdings in shares of Corteva by 0.6% in the 2nd quarter. Empirical Finance LLC now owns 24,935 shares of the company’s stock valued at $1,858,000 after acquiring an additional 153 shares in the last quarter. Exchange Capital Management Inc. increased its position in shares of Corteva by 0.3% in the second quarter. Exchange Capital Management Inc. now owns 56,901 shares of the company’s stock valued at $4,241,000 after acquiring an additional 161 shares during the last quarter. Finally, Carnegie Investment Counsel raised its holdings in Corteva by 3.0% during the second quarter. Carnegie Investment Counsel now owns 5,607 shares of the company’s stock worth $418,000 after acquiring an additional 164 shares in the last quarter. 81.54% of the stock is currently owned by institutional investors and hedge funds.

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.