Barclays Initiates Coverage on Corteva (NYSE:CTVA)

Analysts at Barclays began coverage on shares of Corteva (NYSE:CTVA – Get Rating) in a research note issued on Wednesday, The Fly reports. The brokerage set an “overweight” rating on the stock.

Several other research analysts also recently weighed in on the company. Loop Capital upgraded Corteva from a “hold” rating to a “buy” rating and set a $69.00 target price on the stock in a research note on Thursday, April 14th. Mizuho boosted their target price on Corteva from $60.00 to $67.00 in a research note on Friday, April 29th. Zacks Investment Research upgraded Corteva from a “sell” rating to a “hold” rating in a research note on Monday, February 7th. JPMorgan Chase & Co. downgraded Corteva from an “overweight” rating to a “neutral” rating and set a $58.00 target price on the stock. in a research note on Friday, May 6th. They noted that the move was a valuation call. Finally, KeyCorp boosted their price target on Corteva from $58.00 to $63.00 and gave the company an “overweight” rating in a research note on Tuesday, April 5th. Four investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $60.79.

Shares of NYSE CTVA opened at $62.62 on Wednesday. The company has a quick ratio of 1.13, a current ratio of 1.64 and a debt-to-equity ratio of 0.04. The business has a fifty day simple moving average of $58.68 and a two-hundred day simple moving average of $52.40. The firm has a market cap of $45.32 billion, a PE ratio of 26.65, a price-to-earnings-growth ratio of 1.86 and a beta of 0.65. Corteva has a twelve month low of $40.60 and a twelve month high of $64.03.

Corteva (NYSE:CTVA – Get Rating) last announced its quarterly earnings results on Wednesday, May 4th. The company reported $0.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.81 by $0.16. Corteva had a return on equity of 6.70% and a net margin of 10.72%. The business had revenue of $4.60 billion for the quarter, compared to the consensus estimate of $4.47 billion. During the same period last year, the business posted $0.79 EPS. The business’s revenue was up 9.5% compared to the same quarter last year. On average, research analysts expect that Corteva will post 2.53 earnings per share for the current year.

In other news, Director Klaus A. Engel sold 3,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 15th. The stock was sold at an average price of $52.76, for a total value of $158,280.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.08% of the stock is owned by corporate insiders.

Institutional investors have recently modified their holdings of the stock. American Century Companies Inc. lifted its stake in Corteva by 35.5% during the third quarter. American Century Companies Inc. now owns 55,146 shares of the company’s stock worth $2,321,000 after purchasing an additional 14,435 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its stake in Corteva by 492.0% during the third quarter. Arrowstreet Capital Limited Partnership now owns 148,809 shares of the company’s stock worth $6,262,000 after purchasing an additional 123,673 shares in the last quarter. Greenleaf Trust lifted its stake in Corteva by 4.0% during the third quarter. Greenleaf Trust now owns 8,216 shares of the company’s stock worth $346,000 after purchasing an additional 313 shares in the last quarter. Logan Capital Management Inc. lifted its stake in Corteva by 1,624.7% during the third quarter. Logan Capital Management Inc. now owns 17,868 shares of the company’s stock worth $752,000 after purchasing an additional 16,832 shares in the last quarter. Finally, Centaurus Financial Inc. lifted its stake in Corteva by 7.1% during the third quarter. Centaurus Financial Inc. now owns 3,766 shares of the company’s stock worth $158,000 after purchasing an additional 250 shares in the last quarter. Institutional investors own 79.46% of the company’s stock.

About Corteva (Get Rating)

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.

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