Corteva's (CTVA) Neutral Rating Reaffirmed at JPMorgan Chase & Co.

Corteva (NYSE:CTVA - Get Free Report)'s stock had its "neutral" rating reiterated by equities researchers at JPMorgan Chase & Co. in a report released on Friday, MarketBeat reports. They currently have a $57.00 price target on the stock, down from their previous price target of $58.00. JPMorgan Chase & Co.'s price target indicates a potential upside of 6.03% from the company's current price.

Several other analysts also recently issued reports on the stock. UBS Group decreased their price objective on shares of Corteva from $65.00 to $64.00 and set a "buy" rating for the company in a research note on Thursday, January 11th. Wells Fargo & Company boosted their price objective on Corteva from $54.00 to $65.00 and gave the company an "overweight" rating in a report on Friday, February 2nd. Barclays lifted their target price on Corteva from $55.00 to $58.00 and gave the stock an "equal weight" rating in a research report on Wednesday. TheStreet upgraded shares of Corteva from a "c+" rating to a "b-" rating in a report on Tuesday, February 27th. Finally, Oppenheimer upped their target price on shares of Corteva from $60.00 to $62.00 and gave the stock an "outperform" rating in a research note 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 MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $63.05.

Corteva Trading Down 4.8 %

CTVA stock traded down $2.70 during midday trading on Friday, reaching $53.76. 3,844,023 shares of the company traded hands, compared to its average volume of 3,700,485. The firm has a market capitalization of $37.57 billion, a price-to-earnings ratio of 55.35, a P/E/G ratio of 1.47 and a beta of 0.77. Corteva has a 52-week low of $43.22 and a 52-week high of $63.37. The business has a 50 day moving average of $55.12 and a 200-day moving average of $50.17. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.90 and a current ratio of 1.56.

Corteva (NYSE:CTVA - Get Free Report) last released its 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. The firm had revenue of $3.71 billion for the quarter, compared to the consensus estimate of $3.54 billion. Corteva had a return on equity of 7.43% and a net margin of 4.27%. During the same quarter in the previous year, the company posted $0.16 EPS. As a group, sell-side analysts expect that Corteva will post 2.86 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Corteva

Several institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. lifted its position in shares of Corteva by 2.4% during the 3rd quarter. Vanguard Group Inc. now owns 81,346,924 shares of the company's stock valued at $4,161,709,000 after buying an additional 1,941,323 shares in the last quarter. Capital International Investors lifted its holdings in Corteva by 47.2% during the fourth quarter. Capital International Investors now owns 25,758,735 shares of the company's stock valued at $1,234,359,000 after purchasing an additional 8,260,808 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Corteva by 1.4% in the first quarter. Geode Capital Management LLC now owns 14,726,824 shares of the company's stock valued at $886,490,000 after purchasing an additional 208,948 shares during the period. Massachusetts Financial Services Co. MA increased its stake in shares of Corteva by 19.3% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 13,236,504 shares of the company's stock worth $634,293,000 after purchasing an additional 2,141,428 shares in the last quarter. Finally, Northern Trust Corp raised its position in shares of Corteva by 2.5% during the 4th quarter. Northern Trust Corp now owns 12,815,795 shares of the company's stock worth $614,133,000 after purchasing an additional 310,012 shares during the last quarter. Hedge funds and other 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.