Corteva (NYSE:CTVA) Earns “Outperform” Rating from Oppenheimer

Corteva (NYSE:CTVA)‘s stock had its “outperform” rating reissued by stock analysts at Oppenheimer in a report released on Friday,Benzinga reports. They presently have a $70.00 price target on the stock, up from their prior price target of $69.00. Oppenheimer’s price objective indicates a potential upside of 20.01% from the company’s current price.

Other equities analysts have also recently issued reports about the stock. UBS Group raised their target price on shares of Corteva from $67.00 to $71.00 and gave the company a “buy” rating in a research note on Thursday. Citigroup initiated coverage on Corteva in a report on Wednesday, October 23rd. They issued a “buy” rating and a $68.00 target price on the stock. Morgan Stanley reissued an “overweight” rating and set a $65.00 price target on shares of Corteva in a research note on Tuesday, September 24th. KeyCorp cut their price target on Corteva from $66.00 to $62.00 and set an “overweight” rating for the company in a report on Friday, August 2nd. Finally, JPMorgan Chase & Co. decreased their price objective on Corteva from $57.00 to $55.00 and set a “neutral” rating on the stock in a report on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $63.47.

Corteva Trading Down 0.5 %

Shares of CTVA opened at $58.33 on Friday. The firm has a market cap of $40.38 billion, a P/E ratio of 58.92, a price-to-earnings-growth ratio of 1.78 and a beta of 0.77. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.72 and a quick ratio of 1.17. Corteva has a 1 year low of $43.22 and a 1 year high of $63.75. The company has a 50 day simple moving average of $58.19 and a two-hundred day simple moving average of $55.59.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Duality Advisers LP grew its position in Corteva by 30.2% in the 1st quarter. Duality Advisers LP now owns 17,846 shares of the company’s stock valued at $1,029,000 after acquiring an additional 4,142 shares during the last quarter. Envestnet Portfolio Solutions Inc. increased its stake in Corteva by 6.9% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 79,971 shares of the company’s stock worth $4,612,000 after buying an additional 5,142 shares during the period. Empowered Funds LLC lifted its holdings in Corteva by 55.4% during the 1st quarter. Empowered Funds LLC now owns 16,804 shares of the company’s stock valued at $969,000 after buying an additional 5,989 shares in the last quarter. SG Americas Securities LLC boosted its position in Corteva by 279.5% in the 1st quarter. SG Americas Securities LLC now owns 120,952 shares of the company’s stock valued at $6,975,000 after buying an additional 89,077 shares during the period. Finally, Oppenheimer Asset Management Inc. grew its stake in Corteva by 1.3% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 24,212 shares of the company’s stock worth $1,396,000 after acquiring an additional 305 shares in the last quarter. 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.