Corteva (NYSE:CTVA) Stock Rating Lowered by Zacks Research

Key Points

• Zacks Research downgraded Corteva from “strong buy” to “hold,” although the broader analyst consensus remains “Moderate Buy” with a $91.70 target price.
• Corteva opened at $75.57, below its 50-day and 200-day moving averages. The stock has traded between $60.53 and $90.97 over the past year.
• The company exceeded quarterly EPS expectations with $2.30 versus $2.24 forecast, but revenue of $6.38 billion missed estimates and declined 1.2% year over year; institutional investors own 81.54% of shares.

Corteva (NYSE:CTVA - Get Free Report) was downgraded by Zacks Research from a "strong-buy" rating to a "hold" rating in a research note issued on Tuesday,Zacks.com reports.

Several other brokerages have also recently issued reports on CTVA. Wells Fargo & Company increased their price objective on Corteva from $85.00 to $90.00 and gave the stock an "overweight" rating in a research note on Tuesday, April 21st. BNP Paribas Exane lifted their price objective on Corteva from $74.00 to $77.00 in a report on Wednesday, May 6th. Weiss Ratings downgraded shares of Corteva from a "hold (c+)" rating to a "hold (c)" rating in a research report on Monday, August 3rd. Bank of America upped their price target on shares of Corteva from $90.00 to $96.00 and gave the stock a "buy" rating in a research report on Monday, July 20th. Finally, Oppenheimer boosted their price objective on shares of Corteva from $89.00 to $95.00 and gave the stock an "outperform" rating in a research note on Thursday, July 23rd. Fourteen equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $91.70.

Corteva Trading Down 0.9%

Corteva stock opened at $75.57 on Tuesday. Corteva has a 1 year low of $60.53 and a 1 year high of $90.97. The firm's 50 day moving average price is $81.83 and its 200-day moving average price is $80.01. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.52 and a quick ratio of 1.10. The stock has a market cap of $50.42 billion, a P/E ratio of 50.05, a PEG ratio of 2.34 and a beta of 0.57.

Corteva (NYSE:CTVA - Get Free Report) last posted its quarterly earnings data on Thursday, July 30th. The company reported $2.30 earnings per share for the quarter, topping analysts' consensus estimates of $2.24 by $0.06. Corteva had a net margin of 5.66% and a return on equity of 10.18%. The company had revenue of $6.38 billion for the quarter, compared to analyst estimates of $6.60 billion. During the same period in the prior year, the company posted $2.20 EPS. The firm's revenue for the quarter was down 1.2% on a year-over-year basis. Corteva has set its FY 2026 guidance at 3.600-3.800 EPS. On average, equities analysts predict that Corteva will post 3.72 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Corteva

Large investors have recently made changes to their positions in the company. Meiji Yasuda Asset Management Co Ltd. purchased a new position in Corteva in the second quarter valued at $905,000. Haverford Trust Co acquired a new stake in shares of Corteva during the 2nd quarter valued at about $5,522,000. Davis Asset Management L.P. purchased a new position in shares of Corteva in the 2nd quarter valued at about $155,000. Bank of Nova Scotia purchased a new position in shares of Corteva in the 2nd quarter valued at about $6,095,000. Finally, Compass Financial Management LLC acquired a new position in Corteva in the 2nd quarter worth about $25,000. 81.54% of the stock is currently owned by institutional investors and hedge funds.

Corteva Company Profile

Corteva, Inc NYSE: CTVA is an independent global agriculture company that was established as a publicly traded firm in mid‑2019 following the separation of the agriculture businesses from DowDuPont. The company focuses on delivering technologies and products that help farmers increase productivity and manage crop health. Corteva's operations combine seed genetics, crop protection chemistries, digital tools and biological solutions to address the full cycle of crop production.

Core business activities include research and development of seed genetics and trait technologies, formulation and sale of crop protection products (such as herbicides, insecticides and fungicides), and the development of seed treatments and biologicals.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source