Corteva (NYSE:CTVA) Price Target Increased to $61.00 by Analysts at Mizuho

Corteva (NYSE:CTVA) had its price objective upped by equities researchers at Mizuho from $56.00 to $61.00 in a note issued to investors on Thursday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Mizuho’s price objective would indicate a potential upside of 13.17% from the stock’s previous close.

Several other equities research analysts have also recently weighed in on the stock. Loop Capital raised shares of Corteva from a “hold” rating to a “buy” rating and increased their price target for the company from $57.00 to $65.00 in a research report on Monday, February 12th. BNP Paribas raised Corteva from an “underperform” rating to a “neutral” rating and set a $53.00 target price on the stock in a research note on Friday, February 2nd. UBS Group lowered their price target on Corteva from $65.00 to $64.00 and set a “buy” rating for the company in a research report on Thursday, January 11th. Oppenheimer lifted their price objective on Corteva from $62.00 to $67.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 16th. Finally, Royal Bank of Canada upped their target price on Corteva from $56.00 to $64.00 and gave the company an “outperform” rating in a report on Friday, February 2nd. Six investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $63.52.

Corteva Trading Down 0.4 %

NYSE CTVA opened at $53.90 on Thursday. The firm has a market cap of $37.67 billion, a PE ratio of 52.84, a price-to-earnings-growth ratio of 1.42 and a beta of 0.78. Corteva has a 1-year low of $43.22 and a 1-year high of $61.07. The stock has a 50-day moving average of $55.28 and a 200-day moving average of $50.56. The company has a current ratio of 1.56, a quick ratio of 0.90 and a debt-to-equity ratio of 0.09.

Corteva (NYSE:CTVA) last announced its quarterly earnings data on Thursday, February 1st. The company reported $0.15 earnings per share for the quarter, beating the consensus estimate of $0.06 by $0.09. Corteva had a return on equity of 7.43% and a net margin of 4.27%. The firm had revenue of $3.71 billion during the quarter, compared to the consensus estimate of $3.54 billion. During the same quarter in the previous year, the company posted $0.16 earnings per share. As a group, sell-side analysts forecast that Corteva will post 2.84 EPS for the current year.

Hedge Funds Weigh In On Corteva

A number of hedge funds have recently added to or reduced their stakes in the company. Palisade Asset Management LLC bought a new stake in shares of Corteva in the 1st quarter worth $56,000. BNP Paribas Financial Markets boosted its position in shares of Corteva by 75.5% during the first quarter. BNP Paribas Financial Markets now owns 633,117 shares of the company’s stock valued at $36,512,000 after buying an additional 272,461 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in Corteva by 18.5% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 130,406 shares of the company’s stock worth $7,563,000 after buying an additional 20,314 shares in the last quarter. Grant Street Asset Management Inc. purchased a new position in Corteva in the 1st quarter worth about $227,000. Finally, Wambolt & Associates LLC lifted its stake in Corteva by 39.1% during the 1st quarter. Wambolt & Associates LLC now owns 28,723 shares of the company’s stock valued at $1,657,000 after acquiring an additional 8,067 shares during the period. 81.54% of the stock is currently owned by hedge funds and other institutional investors.

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.