Corteva (NYSE:CTVA) Given New $68.00 Price Target at Citigroup

Corteva (NYSE:CTVA) had its price target lifted by analysts at Citigroup from $67.00 to $68.00 in a research report issued to clients and investors on Thursday,MarketScreener reports. The brokerage presently has a “neutral” rating on the stock. Citigroup’s price objective would suggest a potential upside of 6.18% from the stock’s previous close.

A number of other equities analysts also recently weighed in on CTVA. Oppenheimer restated an “outperform” rating and issued a $76.00 target price on shares of Corteva in a research note on Friday. Barclays raised Corteva from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $75.00 to $84.00 in a research report on Wednesday, August 13th. BMO Capital Markets set a $86.00 target price on Corteva in a research note on Monday, September 15th. Jefferies Financial Group reduced their price target on shares of Corteva from $92.00 to $85.00 in a research report on Thursday, October 2nd. Finally, KeyCorp reaffirmed a “sector weight” rating on shares of Corteva in a research report on Friday, October 3rd. Fifteen research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, Corteva presently has an average rating of “Moderate Buy” and a consensus price target of $79.35.

Corteva Price Performance

Shares of NYSE:CTVA opened at $64.05 on Thursday. The company has a current ratio of 1.58, a quick ratio of 1.23 and a debt-to-equity ratio of 0.07. The stock has a market cap of $43.49 billion, a PE ratio of 27.37, a price-to-earnings-growth ratio of 1.40 and a beta of 0.81. The stock’s fifty day simple moving average is $66.41 and its two-hundred day simple moving average is $69.38. Corteva has a 1-year low of $53.40 and a 1-year high of $77.41.

Corteva (NYSE:CTVA) last announced its earnings results on Tuesday, November 4th. The company reported ($0.23) EPS for the quarter, beating the consensus estimate of ($0.49) by $0.26. Corteva had a net margin of 9.19% and a return on equity of 9.37%. The company had revenue of $2.62 billion during the quarter, compared to the consensus estimate of $2.47 billion. During the same quarter in the prior year, the company posted ($0.49) earnings per share. The firm’s revenue for the quarter was up 6.5% on a year-over-year basis. As a group, analysts forecast that Corteva will post 2.96 EPS for the current fiscal year.

Insider Transactions at Corteva

In other Corteva news, EVP Robert D. King sold 37,280 shares of the firm’s stock in a transaction dated Friday, August 29th. The stock was sold at an average price of $74.20, for a total value of $2,766,176.00. Following the completion of the transaction, the executive vice president owned 49,262 shares in the company, valued at $3,655,240.40. This trade 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 hyperlink. Company insiders own 0.14% of the company’s stock.

Institutional Trading of Corteva

Hedge funds and other institutional investors have recently bought and sold shares of the company. Avestar Capital LLC lifted its position in Corteva by 33.0% in the 3rd quarter. Avestar Capital LLC now owns 13,178 shares of the company’s stock worth $891,000 after buying an additional 3,271 shares during the last quarter. NewEdge Wealth LLC raised its stake in shares of Corteva by 10.4% during the third quarter. NewEdge Wealth LLC now owns 7,250 shares of the company’s stock worth $462,000 after acquiring an additional 681 shares in the last quarter. Alberta Investment Management Corp bought a new stake in shares of Corteva in the 3rd quarter worth approximately $5,018,000. Redmont Wealth Advisors LLC bought a new stake in shares of Corteva in the 3rd quarter worth approximately $29,000. Finally, Syon Capital LLC boosted its stake in shares of Corteva by 29.7% in the 3rd quarter. Syon Capital LLC now owns 7,275 shares of the company’s stock valued at $492,000 after purchasing an additional 1,666 shares in the last quarter. Institutional investors own 81.54% of the company’s stock.

Corteva Company Profile

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.