Corteva (NYSE:CTVA) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a report issued on Wednesday, Zacks.com reports.

According to Zacks, “Corteva, Inc. provides agriculture products. The company develops and supplies germplasm and traits in corn, soybean and sunflower seed markets. It also supplies products to the agricultural input industry which protect against weeds, insects and other pests, and diseases as well as to enhance crop health. Corteva, Inc. is based in Wilmington, Delaware. “

A number of other research firms also recently issued reports on CTVA. Royal Bank of Canada raised Corteva from a “sector perform” rating to an “outperform” rating and boosted their price target for the company from $29.00 to $38.00 in a research report on Friday, August 9th. SunTrust Banks lowered their price target on Corteva from $30.00 to $28.00 and set a “hold” rating for the company in a research report on Friday, October 11th. JPMorgan Chase & Co. initiated coverage on Corteva in a research report on Friday, June 21st. They set an “overweight” rating and a $30.00 price target for the company. Monness Crespi & Hardt initiated coverage on Corteva in a research report on Wednesday, July 17th. They set a “sell” rating and a $24.00 price target for the company. Finally, Barclays reissued a “hold” rating and set a $35.00 price target on shares of Corteva in a research report on Sunday, August 4th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $31.93.

CTVA stock traded up $0.17 during trading on Wednesday, reaching $26.87. 3,022,372 shares of the stock traded hands, compared to its average volume of 5,708,274. The firm’s 50 day simple moving average is $28.09. Corteva has a 52-week low of $24.35 and a 52-week high of $32.78.

Corteva (NYSE:CTVA) last posted its quarterly earnings results on Thursday, August 1st. The company reported $1.42 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.99 by $0.43. The firm had revenue of $5.56 billion for the quarter, compared to analysts’ expectations of $5.47 billion. Corteva’s revenue was down 3.1% compared to the same quarter last year. Equities analysts predict that Corteva will post 1.17 earnings per share for the current fiscal year.

In other Corteva news, insider Timothy P. Glenn purchased 6,500 shares of Corteva stock in a transaction that occurred on Monday, August 5th. The stock was purchased at an average price of $30.52 per share, with a total value of $198,380.00. Also, Director Klaus A. Engel purchased 18,393 shares of Corteva stock in a transaction that occurred on Friday, August 30th. The stock was acquired at an average cost of $30.00 per share, with a total value of $551,790.00. Following the acquisition, the director now directly owns 25,253 shares of the company’s stock, valued at approximately $757,590. The disclosure for this purchase can be found here.

A number of institutional investors and hedge funds have recently modified their holdings of CTVA. Vanguard Group Inc. purchased a new position in Corteva in the second quarter valued at about $1,803,496,000. BlackRock Inc. purchased a new position in Corteva in the second quarter valued at about $1,728,215,000. Barrow Hanley Mewhinney & Strauss LLC purchased a new position in Corteva in the second quarter valued at about $579,764,000. Nuveen Asset Management LLC purchased a new position in Corteva in the second quarter valued at about $429,256,000. Finally, Price T Rowe Associates Inc. MD purchased a new position in Corteva in the second quarter valued at about $404,071,000. 72.18% of the stock is owned by hedge funds and other institutional investors.

About Corteva

Corteva, Inc provides agriculture products worldwide. The company develops and supplies germplasm and traits in corn, soybean, and sunflower seed markets. It also supplies products to the agricultural input industry that protect against weeds, insects and other pests, and diseases, as well as to enhance crop health.

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