Corteva (NYSE:CTVA) Upgraded at Wall Street Zen

Key Points

• Corteva has been upgraded from a "hold" to a "buy" rating by Wall Street Zen, signaling a positive outlook for the stock.
• Several analysts, including UBS and BMO Capital Markets, have raised their target price for Corteva shares, indicating growing confidence in the company's performance.
• The latest earnings report showed Corteva's earnings per share at $2.20, exceeding analysts' estimates, and a year-over-year revenue growth of 5.6%, reflecting strong operational results.

Corteva (NYSE:CTVA - Get Free Report) was upgraded by investment analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a report released on Saturday.

A number of other analysts have also weighed in on the stock. UBS Group raised their target price on shares of Corteva from $90.00 to $91.00 and gave the company a "buy" rating in a research report on Thursday. BMO Capital Markets lifted their price target on shares of Corteva from $74.00 to $86.00 and gave the stock an "outperform" rating in a report on Tuesday, July 8th. Jefferies Financial Group reiterated a "buy" rating on shares of Corteva in a report on Friday, June 6th. Citigroup lifted their price target on shares of Corteva from $75.00 to $78.00 and gave the stock a "buy" rating in a report on Friday, May 9th. Finally, Wells Fargo & Company lifted their price target on shares of Corteva from $82.00 to $83.00 and gave the stock an "overweight" rating in a report on Friday. Two analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $79.50.

Corteva Stock Performance

Shares of Corteva stock opened at $70.87 on Friday. Corteva has a fifty-two week low of $50.78 and a fifty-two week high of $77.41. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.68 and a quick ratio of 1.00. The firm has a market capitalization of $48.34 billion, a P/E ratio of 34.57, a P/E/G ratio of 1.72 and a beta of 0.75. The company's 50 day moving average price is $73.29 and its two-hundred day moving average price is $66.51.

Corteva (NYSE:CTVA - Get Free Report) last issued its earnings results on Wednesday, August 6th. The company reported $2.20 earnings per share for the quarter, beating analysts' consensus estimates of $1.89 by $0.31. Corteva had a net margin of 8.16% and a return on equity of 8.68%. The firm had revenue of $6.46 billion for the quarter, compared to analyst estimates of $6.26 billion. During the same quarter last year, the business posted $1.83 earnings per share. The company's quarterly revenue was up 5.6% on a year-over-year basis. On average, equities analysts forecast that Corteva will post 2.96 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Corteva

A number of hedge funds have recently bought and sold shares of the company. Gladwyn Financial Advisors Inc. acquired a new position in shares of Corteva during the second quarter valued at about $25,000. Pinney & Scofield Inc. acquired a new position in shares of Corteva during the fourth quarter valued at about $27,000. Curat Global LLC raised its holdings in shares of Corteva by 93.7% during the second quarter. Curat Global LLC now owns 370 shares of the company's stock valued at $28,000 after purchasing an additional 179 shares during the period. Maryland Capital Advisors Inc. acquired a new position in shares of Corteva during the second quarter valued at about $29,000. Finally, LGT Financial Advisors LLC acquired a new position in shares of Corteva during the fourth quarter valued at about $31,000. Institutional investors own 81.54% of the company's stock.

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.

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