Corteva (NYSE:CTVA) Price Target Increased to $58.00 by Analysts at Barclays

Corteva (NYSE:CTVA) had its target price increased by analysts at Barclays from $55.00 to $58.00 in a report issued on Wednesday, Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Barclays‘s target price indicates a potential upside of 2.73% from the stock’s current price.

Other research analysts have also issued reports about the stock. TheStreet raised shares of Corteva from a “c+” rating to a “b-” rating in a research note on Tuesday, February 27th. Oppenheimer upped their price target on shares of Corteva from $60.00 to $62.00 and gave the company an “outperform” rating in a report on Friday, February 2nd. KeyCorp raised their price objective on shares of Corteva from $63.00 to $66.00 and gave the stock an “overweight” rating in a research note on Tuesday. Wolfe Research assumed coverage on Corteva in a research note on Friday, March 1st. They set an “outperform” rating and a $67.00 target price on the stock. Finally, UBS Group reduced their price target on Corteva from $65.00 to $64.00 and set a “buy” rating on the stock in a report on Thursday, January 11th. Five equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $63.43.

Corteva Stock Performance

Corteva stock opened at $56.46 on Wednesday. The company has a quick ratio of 0.90, a current ratio of 1.56 and a debt-to-equity ratio of 0.09. Corteva has a twelve month low of $43.22 and a twelve month high of $63.37. The company’s 50-day moving average price is $55.12 and its 200-day moving average price is $50.17. The company has a market cap of $39.46 billion, a PE ratio of 55.35, a price-to-earnings-growth ratio of 1.48 and a beta of 0.77.

Corteva (NYSE:CTVA) last issued its quarterly earnings data on Thursday, February 1st. The company reported $0.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.06 by $0.09. The business had revenue of $3.71 billion for the quarter, compared to the consensus estimate of $3.54 billion. Corteva had a return on equity of 7.43% and a net margin of 4.27%. During the same period in the prior year, the business posted $0.16 earnings per share. On average, equities research analysts forecast that Corteva will post 2.87 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. CVA Family Office LLC acquired a new position in Corteva in the 4th quarter worth approximately $25,000. BKM Wealth Management LLC acquired a new position in Corteva during the fourth quarter valued at $27,000. Rise Advisors LLC boosted its holdings in Corteva by 2,522.2% in the first quarter. Rise Advisors LLC now owns 472 shares of the company’s stock valued at $27,000 after purchasing an additional 454 shares during the last quarter. NewSquare Capital LLC grew its position in Corteva by 70.6% during the 3rd quarter. NewSquare Capital LLC now owns 546 shares of the company’s stock worth $28,000 after purchasing an additional 226 shares during the period. Finally, Glass Jacobson Investment Advisors llc raised its stake in shares of Corteva by 234.3% during the 3rd quarter. Glass Jacobson Investment Advisors llc now owns 555 shares of the company’s stock valued at $28,000 after buying an additional 389 shares during the last quarter. 81.54% of the stock is 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.