Jefferies Financial Group Has Lowered Expectations for Corteva (NYSE:CTVA) Stock Price

Key Points

• Jefferies Financial Group has lowered its price target for Corteva (NYSE:CTVA) stock from $92.00 to $85.00, reflecting a potential upside of 34.63% based on the previous close.
• Analysts at Citigroup downgraded Corteva from a "buy" rating to "neutral" and reduced their price target from $83.00 to $70.00, while other firms have offered mixed ratings, resulting in an average target price of $80.67.
• Corteva reported quarterly earnings of $2.20 per share, exceeding estimates and marking a 5.6% year-over-year revenue increase to $6.46 billion.

Corteva (NYSE:CTVA - Get Free Report) had its price target dropped by research analysts at Jefferies Financial Group from $92.00 to $85.00 in a research note issued on Thursday,MarketScreener reports. Jefferies Financial Group's price target indicates a potential upside of 34.63% from the company's previous close.

Other research analysts have also issued research reports about the company. Citigroup lowered Corteva from a "buy" rating to a "neutral" rating and reduced their price target for the stock from $83.00 to $70.00 in a research report on Thursday. Oppenheimer set a $87.00 price objective on shares of Corteva and gave the company an "outperform" rating in a research report on Tuesday, July 15th. Barclays raised shares of Corteva from an "equal weight" rating to an "overweight" rating and increased their target price for the company from $75.00 to $84.00 in a research note on Wednesday, August 13th. Royal Bank Of Canada reiterated an "outperform" rating on shares of Corteva in a research report on Monday, August 11th. Finally, Morgan Stanley set a $84.00 price target on Corteva in a research report on Monday, September 15th. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $80.67.

Corteva Trading Down 0.6%

NYSE CTVA opened at $63.13 on Thursday. The company's fifty day simple moving average is $71.44 and its 200-day simple moving average is $68.84. The stock has a market cap of $42.87 billion, a P/E ratio of 30.83, a PEG ratio of 1.39 and a beta of 0.76. Corteva has a 52 week low of $53.40 and a 52 week high of $77.41. The company has a current ratio of 1.68, a quick ratio of 1.23 and a debt-to-equity ratio of 0.06.

Corteva (NYSE:CTVA - Get Free Report) last issued its quarterly earnings data 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. The firm had revenue of $6.46 billion during the quarter, compared to analyst estimates of $6.26 billion. Corteva had a return on equity of 8.68% and a net margin of 8.16%.Corteva's quarterly revenue was up 5.6% on a year-over-year basis. During the same quarter last year, the firm earned $1.83 EPS. Equities research analysts predict that Corteva will post 2.96 EPS for the current fiscal year.

Insider Activity

In other news, EVP Robert D. King sold 37,280 shares of the business's stock in a transaction on Friday, August 29th. The shares were sold at an average price of $74.20, for a total transaction of $2,766,176.00. Following the transaction, the executive vice president directly owned 49,262 shares in the company, valued at $3,655,240.40. The trade was a 43.08% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.14% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Gladwyn Financial Advisors Inc. acquired a new stake in shares of Corteva during the 2nd quarter valued at about $25,000. Total Investment Management Inc. bought a new position in Corteva during the second quarter valued at approximately $27,000. Curat Global LLC grew its position in Corteva by 93.7% in the second quarter. Curat Global LLC now owns 370 shares of the company's stock worth $28,000 after acquiring an additional 179 shares in the last quarter. Maryland Capital Advisors Inc. bought a new stake in Corteva in the second quarter worth approximately $29,000. Finally, Twin Peaks Wealth Advisors LLC acquired a new position in shares of Corteva during the 2nd quarter worth $29,000. 81.54% of the stock is owned by institutional investors and hedge funds.

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.

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