Corteva (NYSE:CTVA) Receives Hold (C+) Rating from Weiss Ratings

Key Points

• Corteva has received a "hold (C+)" rating from Weiss Ratings, while Zacks Research upgraded the company to a "strong-buy" rating recently.
• The company's stock traded at $63.63 with a market capitalization of $43.21 billion and average target price set at $79.94 according to MarketBeat.
• Insider transactions included EVP Robert D. King selling 37,280 shares, significantly reducing his ownership by 43.08%.

Corteva (NYSE:CTVA - Get Free Report)'s stock had its "hold (c+)" rating restated by Weiss Ratings in a report issued on Friday,Weiss Ratings reports.

Several other equities analysts have also issued reports on the company. Zacks Research upgraded Corteva from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, October 1st. Argus cut their target price on Corteva from $83.00 to $80.00 and set a "buy" rating for the company in a research note on Monday, October 13th. Oppenheimer decreased their price target on shares of Corteva from $87.00 to $75.00 and set an "outperform" rating on the stock in a research note on Wednesday. BMO Capital Markets set a $86.00 target price on shares of Corteva in a research report on Monday, September 15th. Finally, The Goldman Sachs Group dropped their price target on shares of Corteva from $85.00 to $77.00 and set a "buy" rating for the company in a research report on Wednesday. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and four have given a Hold rating to the company. According to MarketBeat, Corteva has an average rating of "Moderate Buy" and an average target price of $79.94.

Corteva Stock Performance

Shares of CTVA traded up $0.15 during mid-day trading on Friday, hitting $63.63. The company's stock had a trading volume of 2,627,766 shares, compared to its average volume of 5,176,881. The stock's 50-day moving average is $68.53 and its two-hundred day moving average is $69.04. The firm has a market capitalization of $43.21 billion, a PE ratio of 31.04, a price-to-earnings-growth ratio of 1.45 and a beta of 0.76. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.23 and a current ratio of 1.68. Corteva has a one year low of $53.40 and a one year high of $77.41.

Corteva (NYSE:CTVA - Get Free Report) last released its earnings results on Wednesday, August 6th. The company reported $2.20 EPS for the quarter, beating the consensus estimate of $1.89 by $0.31. The firm had revenue of $6.46 billion during the quarter, compared to analysts' expectations of $6.26 billion. Corteva had a net margin of 8.16% and a return on equity of 8.68%. The business's quarterly revenue was up 5.6% compared to the same quarter last year. During the same period in the prior year, the company earned $1.83 EPS. As a group, sell-side analysts anticipate that Corteva will post 2.96 EPS for the current year.

Insider Buying and Selling

In other news, EVP Robert D. King sold 37,280 shares of the stock in a transaction on Friday, August 29th. The stock was sold at an average price of $74.20, for a total transaction of $2,766,176.00. Following the sale, the executive vice president owned 49,262 shares in the company, valued at approximately $3,655,240.40. This represents a 43.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.14% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. MGO One Seven LLC grew its holdings in Corteva by 18.4% during the 3rd quarter. MGO One Seven LLC now owns 9,835 shares of the company's stock worth $665,000 after acquiring an additional 1,531 shares during the last quarter. Citizens Financial Group Inc. RI lifted its position in shares of Corteva by 14.2% during the third quarter. Citizens Financial Group Inc. RI now owns 20,839 shares of the company's stock worth $1,409,000 after purchasing an additional 2,585 shares in the last quarter. New York State Teachers Retirement System grew its stake in shares of Corteva by 4.5% during the third quarter. New York State Teachers Retirement System now owns 551,389 shares of the company's stock valued at $37,290,000 after purchasing an additional 23,548 shares during the last quarter. Forum Financial Management LP grew its stake in shares of Corteva by 1.8% during the third quarter. Forum Financial Management LP now owns 13,036 shares of the company's stock valued at $882,000 after purchasing an additional 235 shares during the last quarter. Finally, ORG Wealth Partners LLC increased its holdings in shares of Corteva by 49.5% in the third quarter. ORG Wealth Partners LLC now owns 1,422 shares of the company's stock valued at $96,000 after purchasing an additional 471 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.