Deutsche Bank Aktiengesellschaft Boosts Corteva (NYSE:CTVA) Price Target to $65.00

Corteva (NYSE:CTVA) had its target price upped by equities research analysts at Deutsche Bank Aktiengesellschaft from $62.00 to $65.00 in a research note issued to investors on Monday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Deutsche Bank Aktiengesellschaft’s target price would suggest a potential upside of 13.00% from the stock’s current price.

Several other equities research analysts have also recently weighed in on CTVA. BMO Capital Markets boosted their target price on Corteva from $64.00 to $67.00 and gave the stock an “outperform” rating in a research note on Friday, May 3rd. Wells Fargo & Company upped their target price on shares of Corteva from $66.00 to $67.00 and gave the company an “overweight” rating in a report on Friday, May 3rd. Royal Bank of Canada lifted their price target on shares of Corteva from $56.00 to $64.00 and gave the stock an “outperform” rating in a research note on Friday, February 2nd. UBS Group decreased their price objective on shares of Corteva from $65.00 to $64.00 and set a “buy” rating for the company in a research note on Thursday, January 11th. Finally, Mizuho lifted their target price on Corteva from $56.00 to $61.00 and gave the stock a “buy” rating in a research report on Thursday, May 2nd. Six research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat.com, Corteva has an average rating of “Moderate Buy” and an average price target of $63.24.

Corteva Trading Up 2.1 %

Shares of NYSE:CTVA opened at $57.52 on Monday. Corteva has a 52 week low of $43.22 and a 52 week high of $59.04. The company’s 50 day moving average is $55.45 and its two-hundred day moving average is $50.74. The company has a market cap of $40.09 billion, a PE ratio of 72.81, a P/E/G ratio of 1.50 and a beta of 0.78. The company has a current ratio of 1.51, a quick ratio of 0.97 and a debt-to-equity ratio of 0.10.

Corteva (NYSE:CTVA) last posted its earnings results on Wednesday, May 1st. The company reported $0.89 EPS for the quarter, beating the consensus estimate of $0.79 by $0.10. The firm had revenue of $4.49 billion for the quarter, compared to analyst estimates of $4.65 billion. Corteva had a return on equity of 6.68% and a net margin of 3.32%. Corteva’s revenue for the quarter was down 8.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.16 earnings per share. Equities analysts predict that Corteva will post 2.83 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Corteva

Institutional investors have recently added to or reduced their stakes in the business. WCM Investment Management LLC boosted its stake in shares of Corteva by 3.1% in the fourth quarter. WCM Investment Management LLC now owns 7,103,146 shares of the company’s stock valued at $341,590,000 after buying an additional 213,949 shares in the last quarter. Parsons Capital Management Inc. RI acquired a new position in shares of Corteva during the 1st quarter worth $230,000. 17 Capital Partners LLC purchased a new position in shares of Corteva in the 4th quarter valued at about $1,649,000. Factory Mutual Insurance Co. lifted its stake in shares of Corteva by 10.7% in the fourth quarter. Factory Mutual Insurance Co. now owns 532,558 shares of the company’s stock valued at $25,520,000 after purchasing an additional 51,500 shares during the period. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its holdings in Corteva by 9.7% during the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 777,833 shares of the company’s stock worth $39,794,000 after buying an additional 68,593 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.