Corteva (NYSE:CTVA) Given New $67.00 Price Target at Oppenheimer

Corteva (NYSE:CTVA) had its price target hoisted by equities research analysts at Oppenheimer from $62.00 to $67.00 in a note issued to investors on Tuesday, Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Oppenheimer’s target price would suggest a potential upside of 25.16% from the stock’s current price.

Several other research firms also recently weighed in on CTVA. Loop Capital raised shares of Corteva from a “hold” rating to a “buy” rating and lifted their price target for the company from $57.00 to $65.00 in a research note on Monday, February 12th. Wells Fargo & Company upped their target price on shares of Corteva from $54.00 to $65.00 and gave the stock an “overweight” rating in a report on Friday, February 2nd. Barclays upped their target price on shares of Corteva from $55.00 to $58.00 and gave the stock an “equal weight” rating in a report on Wednesday, April 10th. Mizuho lowered their target price on shares of Corteva from $59.00 to $56.00 and set a “buy” rating on the stock in a report on Thursday, February 1st. Finally, Royal Bank of Canada upped their target price on shares of Corteva from $56.00 to $64.00 and gave the stock an “outperform” rating in a report on Friday, February 2nd. Six analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $63.29.

Corteva Trading Up 0.4 %

CTVA opened at $53.53 on Tuesday. Corteva has a 1-year low of $43.22 and a 1-year high of $63.06. The company has a current ratio of 1.56, a quick ratio of 0.90 and a debt-to-equity ratio of 0.09. The company has a market cap of $37.41 billion, a P/E ratio of 52.48, a price-to-earnings-growth ratio of 1.40 and a beta of 0.77. The company has a fifty day moving average price of $55.19 and a two-hundred day moving average price of $50.24.

Corteva (NYSE:CTVA) last posted its quarterly earnings results on Thursday, February 1st. The company reported $0.15 earnings per share for the quarter, beating the consensus estimate of $0.06 by $0.09. Corteva had a net margin of 4.27% and a return on equity of 7.43%. The firm had revenue of $3.71 billion during the quarter, compared to the consensus estimate of $3.54 billion. During the same period in the previous year, the firm posted $0.16 earnings per share. Analysts predict that Corteva will post 2.86 EPS for the current fiscal year.

Institutional Investors Weigh In On Corteva

Several large investors have recently modified their holdings of CTVA. Capital International Investors boosted its holdings in Corteva by 47.2% in the 4th quarter. Capital International Investors now owns 25,758,735 shares of the company’s stock worth $1,234,359,000 after buying an additional 8,260,808 shares during the period. Moneta Group Investment Advisors LLC boosted its holdings in Corteva by 110,628.9% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 7,904,934 shares of the company’s stock worth $464,652,000 after buying an additional 7,897,795 shares during the period. Norges Bank bought a new position in Corteva in the 4th quarter worth approximately $328,936,000. Harris Associates L P bought a new position in Corteva in the 3rd quarter worth approximately $246,423,000. Finally, Van ECK Associates Corp boosted its holdings in Corteva by 78.7% in the 3rd quarter. Van ECK Associates Corp now owns 7,645,091 shares of the company’s stock worth $391,123,000 after buying an additional 3,366,106 shares during the period. Hedge funds and other 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.