Jefferies Financial Group Issues Pessimistic Forecast for Corteva (NYSE:CTVA) Stock Price

Corteva (NYSE:CTVA) had its price objective dropped by stock analysts at Jefferies Financial Group from $92.00 to $85.00 in a note issued to investors on Thursday,MarketScreener reports. Jefferies Financial Group’s target price indicates a potential upside of 34.15% from the stock’s previous close.

Several other equities analysts have also recently weighed in on the company. Zacks Research raised Corteva from a “hold” rating to a “strong-buy” rating in a report on Wednesday. Deutsche Bank Aktiengesellschaft upped their price objective on Corteva from $83.00 to $90.00 and gave the company a “buy” rating in a research report on Monday, September 15th. Citigroup downgraded Corteva from a “buy” rating to a “neutral” rating and cut their price target for the company from $83.00 to $70.00 in a research note on Thursday. BMO Capital Markets set a $86.00 price objective on shares of Corteva in a research note on Monday, September 15th. Finally, UBS Group raised their price objective on shares of Corteva from $90.00 to $91.00 and gave the stock a “buy” rating in a report on Thursday, August 7th. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $80.67.

Corteva Price Performance

Shares of NYSE CTVA opened at $63.36 on Thursday. The firm has a market cap of $43.03 billion, a P/E ratio of 30.91, a PEG ratio of 1.43 and a beta of 0.76. Corteva has a twelve month low of $53.40 and a twelve month high of $77.41. The company has a quick ratio of 1.23, a current ratio of 1.68 and a debt-to-equity ratio of 0.06. The company has a 50 day moving average of $71.24 and a 200 day moving average of $68.85.

Corteva (NYSE:CTVA) last posted its earnings results on Wednesday, August 6th. The company reported $2.20 EPS for the quarter, topping analysts’ consensus estimates of $1.89 by $0.31. The business had revenue of $6.46 billion during the quarter, compared to analyst estimates of $6.26 billion. Corteva had a return on equity of 8.68% and a net margin of 8.16%.The company’s quarterly revenue was up 5.6% compared to the same quarter last year. During the same quarter last year, the company earned $1.83 EPS. As a group, research analysts expect that Corteva will post 2.96 EPS for the current fiscal year.

Insider Activity at Corteva

In related news, EVP Robert D. King sold 37,280 shares of the company’s stock in a transaction on Friday, August 29th. The shares were sold at an average price of $74.20, for a total transaction of $2,766,176.00. Following the completion of the transaction, the executive vice president owned 49,262 shares in the company, valued at approximately $3,655,240.40. This represents a 43.08% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.14% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Gladwyn Financial Advisors Inc. bought a new position in Corteva during the second quarter valued at approximately $25,000. Total Investment Management Inc. purchased a new stake in shares of Corteva during the 2nd quarter worth approximately $27,000. Curat Global LLC boosted its position in shares of Corteva by 93.7% during the 2nd quarter. Curat Global LLC now owns 370 shares of the company’s stock valued at $28,000 after acquiring an additional 179 shares during the last quarter. Maryland Capital Advisors Inc. purchased a new position in shares of Corteva in the second quarter valued at $29,000. Finally, Twin Peaks Wealth Advisors LLC bought a new stake in Corteva in the second quarter worth $29,000. 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.