Corteva (NYSE:CTVA) Lowered to “Hold” Rating by Wall Street Zen

Corteva (NYSE:CTVA) was downgraded by investment analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research note issued on Monday.

Several other equities research analysts also recently commented on the stock. Argus cut their target price on shares of Corteva from $83.00 to $80.00 and set a “buy” rating on the stock in a research report on Monday, October 13th. Rothschild & Co Redburn cut their price target on shares of Corteva from $71.00 to $65.00 and set a “neutral” rating on the stock in a report on Tuesday, November 11th. KeyCorp reissued a “sector weight” rating on shares of Corteva in a research note on Friday, October 3rd. Jefferies Financial Group lowered their target price on Corteva from $92.00 to $85.00 in a research report on Thursday, October 2nd. Finally, Zacks Research cut Corteva from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 30th. Fifteen analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $78.05.

Corteva Trading Up 1.8%

Shares of CTVA stock opened at $65.55 on Monday. Corteva has a twelve month low of $53.40 and a twelve month high of $77.41. The stock’s fifty day simple moving average is $64.86 and its 200 day simple moving average is $69.73. The company has a quick ratio of 1.07, a current ratio of 1.58 and a debt-to-equity ratio of 0.07. The firm has a market capitalization of $44.29 billion, a P/E ratio of 28.01, a P/E/G ratio of 1.49 and a beta of 0.81.

Corteva (NYSE:CTVA) last posted its earnings results on Tuesday, November 4th. The company reported ($0.23) EPS for the quarter, beating the consensus estimate of ($0.49) by $0.26. The firm had revenue of $2.62 billion during the quarter, compared to the consensus estimate 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 last year, the company earned ($0.49) earnings per share. As a group, sell-side analysts predict that Corteva will post 2.96 EPS for the current fiscal year.

Insider Buying and Selling

In related news, EVP Robert D. King sold 37,280 shares of the company’s stock in a transaction that occurred on Friday, August 29th. The stock was sold at an average price of $74.20, for a total transaction of $2,766,176.00. Following the transaction, the executive vice president directly owned 49,262 shares of the company’s stock, valued at approximately $3,655,240.40. This represents a 43.08% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.15% of the stock is owned by insiders.

Institutional Investors Weigh In On Corteva

Several hedge funds and other institutional investors have recently modified their holdings of CTVA. Gladwyn Financial Advisors Inc. acquired a new stake in Corteva in the 2nd quarter valued at $25,000. Activest Wealth Management lifted its stake in shares of Corteva by 118.3% in the third quarter. Activest Wealth Management now owns 369 shares of the company’s stock valued at $25,000 after buying an additional 200 shares in the last quarter. JPL Wealth Management LLC acquired a new position in shares of Corteva during the third quarter valued at about $25,000. True Wealth Design LLC increased its position in shares of Corteva by 209.5% during the third quarter. True Wealth Design LLC now owns 390 shares of the company’s stock worth $26,000 after acquiring an additional 264 shares in the last quarter. Finally, Total Investment Management Inc. bought a new stake in shares of Corteva during the second quarter worth about $27,000. 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.