Corteva (NYSE:CTVA) Raised to “Buy” at Argus

Corteva (NYSE:CTVA) was upgraded by Argus from a “hold” rating to a “buy” rating in a report released on Monday, Marketbeat Ratings reports. The firm currently has a $69.00 price target on the stock. Argus’ target price points to a potential upside of 8.59% from the stock’s current price.

Several other equities research analysts have also issued reports on the company. KeyCorp lifted their price target on Corteva from $68.00 to $70.00 and gave the company an “overweight” rating in a report on Friday, February 7th. Oppenheimer lifted their target price on shares of Corteva from $70.00 to $72.00 and gave the company an “outperform” rating in a research note on Friday, February 7th. Bank of America increased their price target on shares of Corteva from $69.00 to $73.00 and gave the stock a “buy” rating in a research note on Tuesday, February 11th. The Goldman Sachs Group started coverage on shares of Corteva in a research note on Thursday, March 13th. They issued a “buy” rating and a $71.00 price objective for the company. Finally, Citigroup upped their price objective on shares of Corteva from $69.00 to $74.00 and gave the stock a “buy” rating in a report on Wednesday, January 29th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $68.06.

Corteva Stock Up 1.0 %

Shares of NYSE:CTVA opened at $63.54 on Monday. The firm has a 50 day simple moving average of $62.56 and a 200 day simple moving average of $60.23. Corteva has a 52 week low of $50.01 and a 52 week high of $66.24. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.93 and a current ratio of 1.45. The company has a market cap of $43.40 billion, a PE ratio of 49.26, a price-to-earnings-growth ratio of 1.68 and a beta of 0.79.

Corteva (NYSE:CTVA) last issued its quarterly earnings results on Wednesday, February 5th. The company reported $0.32 earnings per share for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.02). Corteva had a net margin of 5.36% and a return on equity of 7.19%. As a group, research analysts expect that Corteva will post 2.96 earnings per share for the current year.

Insider Transactions at Corteva

In other news, insider Brian Titus sold 26,560 shares of Corteva stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $63.74, for a total value of $1,692,934.40. Following the completion of the sale, the insider now directly owns 11,347 shares of the company’s stock, valued at approximately $723,257.78. This trade represents a 70.07 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.14% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Townsquare Capital LLC increased its stake in shares of Corteva by 13.1% in the 3rd quarter. Townsquare Capital LLC now owns 29,739 shares of the company’s stock valued at $1,748,000 after acquiring an additional 3,449 shares during the last quarter. Public Sector Pension Investment Board boosted its stake in Corteva by 11.3% during the 3rd quarter. Public Sector Pension Investment Board now owns 29,502 shares of the company’s stock worth $1,734,000 after acquiring an additional 3,000 shares during the last quarter. Verition Fund Management LLC grew its holdings in Corteva by 8.5% during the third quarter. Verition Fund Management LLC now owns 69,153 shares of the company’s stock valued at $4,066,000 after purchasing an additional 5,426 shares during the period. Erste Asset Management GmbH bought a new stake in Corteva in the third quarter valued at approximately $808,000. Finally, Benjamin Edwards Inc. boosted its position in shares of Corteva by 64.9% during the third quarter. Benjamin Edwards Inc. now owns 8,528 shares of the company’s stock worth $502,000 after purchasing an additional 3,357 shares in the last quarter. Institutional investors and hedge funds 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.