Corteva (NYSE:CTVA) Stock Price Expected to Rise, KeyCorp Analyst Says

Corteva (NYSE:CTVA) had its price target boosted by equities research analysts at KeyCorp from $72.00 to $84.00 in a research note issued on Monday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. KeyCorp’s price target would suggest a potential upside of 16.57% from the company’s current price.

Several other equities research analysts have also recently commented on the company. Wells Fargo & Company increased their price objective on Corteva from $79.00 to $82.00 and gave the company an “overweight” rating in a research report on Monday, June 23rd. Oppenheimer reiterated an “outperform” rating and set a $75.00 price objective (up from $72.00) on shares of Corteva in a research note on Friday, May 9th. UBS Group raised their price target on Corteva from $76.00 to $90.00 and gave the company a “buy” rating in a report on Wednesday, July 9th. BMO Capital Markets upped their price target on shares of Corteva from $74.00 to $86.00 and gave the stock an “outperform” rating in a report on Tuesday, July 8th. Finally, Argus raised shares of Corteva from a “hold” rating to a “buy” rating and set a $69.00 price objective on the stock in a report on Monday, March 31st. Three analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $77.38.

Corteva Price Performance

Shares of Corteva stock opened at $72.06 on Monday. The company has a fifty day moving average of $71.85 and a 200-day moving average of $64.86. Corteva has a 52-week low of $50.30 and a 52-week high of $77.41. The stock has a market capitalization of $49.16 billion, a price-to-earnings ratio of 43.94, a price-to-earnings-growth ratio of 1.87 and a beta of 0.76. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.00 and a current ratio of 1.44.

Corteva (NYSE:CTVA) last posted its quarterly earnings results on Wednesday, May 7th. The company reported $1.13 EPS for the quarter, beating analysts’ consensus estimates of $0.88 by $0.25. The company had revenue of $4.42 billion during the quarter, compared to analyst estimates of $4.56 billion. Corteva had a net margin of 6.77% and a return on equity of 7.84%. The firm’s revenue was down 1.7% compared to the same quarter last year. During the same period in the prior year, the business posted $0.89 EPS. Equities research analysts expect that Corteva will post 2.96 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Flagship Wealth Advisors LLC acquired a new position in shares of Corteva during the 4th quarter worth about $25,000. Pinney & Scofield Inc. purchased a new position in shares of Corteva in the 4th quarter valued at approximately $27,000. Maryland Capital Advisors Inc. purchased a new stake in shares of Corteva in the second quarter valued at about $29,000. LGT Financial Advisors LLC acquired a new position in Corteva during the 4th quarter worth approximately $31,000. Finally, Valley National Advisers Inc. raised its position in Corteva by 85.9% in the first quarter. Valley National Advisers Inc. now owns 526 shares of the company’s stock worth $33,000 after acquiring an additional 243 shares in the last quarter. Hedge funds and other 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.