Royal Bank Of Canada Lowers Corteva (NYSE:CTVA) Price Target to $80.00

Corteva (NYSE:CTVA) had its price objective dropped by analysts at Royal Bank Of Canada from $86.00 to $80.00 in a note issued to investors on Friday,MarketScreener reports. The brokerage currently has an “outperform” rating on the stock. Royal Bank Of Canada’s price target indicates a potential upside of 30.18% from the company’s previous close.

A number of other research analysts have also commented on the stock. KeyCorp reiterated a “sector weight” rating on shares of Corteva in a research note on Friday, October 3rd. UBS Group decreased their target price on shares of Corteva from $91.00 to $85.00 and set a “buy” rating on the stock in a research report on Monday, October 6th. Zacks Research upgraded shares of Corteva from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 1st. Deutsche Bank Aktiengesellschaft increased their target price on shares of Corteva from $83.00 to $90.00 and gave the stock a “buy” rating in a research report on Monday, September 15th. Finally, Oppenheimer set a $87.00 target price on shares of Corteva and gave the stock an “outperform” rating in a research report on Tuesday, July 15th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $80.31.

Corteva Trading Up 0.7%

CTVA opened at $61.45 on Friday. The stock has a market capitalization of $41.73 billion, a P/E ratio of 29.98, a P/E/G ratio of 1.40 and a beta of 0.76. Corteva has a 12 month low of $53.40 and a 12 month high of $77.41. The firm’s fifty day simple moving average is $69.44 and its 200 day simple moving average is $68.92. The company has a current ratio of 1.68, a quick ratio of 1.23 and a debt-to-equity ratio of 0.06.

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

Insider Buying and Selling at Corteva

In other news, EVP Robert D. King sold 37,280 shares of the 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 sale, the executive vice president directly owned 49,262 shares in the company, valued at $3,655,240.40. This represents a 43.08% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.14% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Corteva

Large investors have recently bought and sold shares of the stock. Brighton Jones LLC lifted its stake in shares of Corteva by 307.2% in the fourth quarter. Brighton Jones LLC now owns 15,588 shares of the company’s stock valued at $888,000 after buying an additional 11,760 shares in the last quarter. GAMMA Investing LLC lifted its stake in shares of Corteva by 15.0% in the first quarter. GAMMA Investing LLC now owns 15,061 shares of the company’s stock valued at $948,000 after buying an additional 1,962 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Corteva by 5.3% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 136,128 shares of the company’s stock valued at $8,567,000 after buying an additional 6,814 shares in the last quarter. Exchange Traded Concepts LLC lifted its stake in shares of Corteva by 26.1% in the first quarter. Exchange Traded Concepts LLC now owns 2,758 shares of the company’s stock valued at $174,000 after buying an additional 570 shares in the last quarter. Finally, Janney Montgomery Scott LLC lifted its stake in shares of Corteva by 5.0% in the first quarter. Janney Montgomery Scott LLC now owns 120,705 shares of the company’s stock valued at $7,596,000 after buying an additional 5,748 shares in the last quarter. 81.54% of the stock is currently owned by institutional investors and hedge funds.

About Corteva

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.