Corteva (NYSE:CTVA) Rating Lowered to Hold at Wall Street Zen

by · The Markets Daily

Corteva (NYSE:CTVA – Get Free Report) was downgraded by equities research analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research note issued on Wednesday.

A number of other equities analysts have also recently weighed in on CTVA. Morgan Stanley set a $84.00 price target on Corteva in a research note on Monday, September 15th. Wells Fargo & Company lowered their price target on Corteva from $80.00 to $77.00 and set an “overweight” rating on the stock in a report on Tuesday, November 11th. Deutsche Bank Aktiengesellschaft reduced their price objective on Corteva from $90.00 to $85.00 and set a “buy” rating for the company in a research note on Thursday, November 6th. Wolfe Research lifted their target price on Corteva from $79.00 to $80.00 and gave the company an “outperform” rating in a research note on Thursday, November 6th. Finally, KeyCorp reiterated a “sector weight” rating on shares of Corteva in a report on Friday, October 3rd. Fifteen analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $78.05.

Get Our Latest Stock Report on Corteva

Corteva Stock Performance

CTVA stock opened at $66.03 on Wednesday. Corteva has a 12-month low of $53.40 and a 12-month high of $77.41. The stock’s 50 day simple moving average is $64.22 and its 200 day simple moving average is $69.49. The company has a current ratio of 1.58, a quick ratio of 1.07 and a debt-to-equity ratio of 0.07. The firm has a market cap of $44.62 billion, a P/E ratio of 28.22, a P/E/G ratio of 1.48 and a beta of 0.74.

Corteva (NYSE:CTVA – Get Free Report) last announced its quarterly earnings results on Tuesday, November 4th. The company reported ($0.23) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.49) by $0.26. The business had revenue of $2.62 billion for the quarter, compared to analysts’ expectations of $2.47 billion. Corteva had a return on equity of 9.37% and a net margin of 9.19%.The business’s quarterly revenue was up 6.5% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.49) EPS. As a group, equities research analysts predict that Corteva will post 2.96 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Norges Bank bought a new stake in shares of Corteva in the 2nd quarter worth about $434,220,000. Pacer Advisors Inc. grew its stake in Corteva by 4,007.1% during the third quarter. Pacer Advisors Inc. now owns 2,442,177 shares of the company’s stock worth $165,164,000 after buying an additional 2,382,715 shares during the last quarter. WCM Investment Management LLC increased its holdings in shares of Corteva by 29.6% during the second quarter. WCM Investment Management LLC now owns 9,044,706 shares of the company’s stock worth $672,836,000 after buying an additional 2,066,519 shares in the last quarter. Amundi raised its stake in shares of Corteva by 125.3% in the third quarter. Amundi now owns 3,415,554 shares of the company’s stock valued at $219,620,000 after acquiring an additional 1,899,248 shares during the last quarter. Finally, Assenagon Asset Management S.A. grew its position in Corteva by 4,769.2% during the 2nd quarter. Assenagon Asset Management S.A. now owns 1,924,419 shares of the company’s stock worth $143,427,000 after acquiring an additional 1,884,897 shares during the last quarter. Institutional investors and hedge funds own 81.54% of the company’s stock.

Corteva Company Profile

(Get Free Report)

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.

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