Corteva (NYSE:CTVA) Rating Reiterated by Morgan Stanley

Corteva (NYSE:CTVA)‘s stock had its “overweight” rating restated by Morgan Stanley in a report issued on Tuesday, Benzinga reports. They presently have a $65.00 price objective on the stock. Morgan Stanley’s price target indicates a potential upside of 12.73% from the stock’s current price.

CTVA has been the subject of several other research reports. Argus cut Corteva from a “buy” rating to a “hold” rating in a research note on Wednesday, August 7th. Mizuho cut their price target on Corteva from $61.00 to $60.00 and set a “buy” rating on the stock in a report on Tuesday, June 18th. JPMorgan Chase & Co. decreased their price objective on Corteva from $57.00 to $55.00 and set a “neutral” rating for the company in a research note on Friday, August 2nd. KeyCorp cut their target price on shares of Corteva from $66.00 to $62.00 and set an “overweight” rating on the stock in a research note on Friday, August 2nd. Finally, Wells Fargo & Company lowered their price target on shares of Corteva from $67.00 to $65.00 and set an “overweight” rating for the company in a report on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $61.94.

Corteva Price Performance

Shares of NYSE:CTVA traded down $0.34 during mid-day trading on Tuesday, reaching $57.66. The stock had a trading volume of 2,574,437 shares, compared to its average volume of 3,337,404. The company has a current ratio of 1.72, a quick ratio of 1.17 and a debt-to-equity ratio of 0.10. Corteva has a 1 year low of $43.22 and a 1 year high of $58.92. The business’s 50 day moving average price is $54.78 and its 200 day moving average price is $54.80. The company has a market cap of $40.19 billion, a P/E ratio of 73.03, a price-to-earnings-growth ratio of 1.60 and a beta of 0.77.

Corteva (NYSE:CTVA) last released its quarterly earnings data on Wednesday, July 31st. The company reported $1.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.74 by $0.09. Corteva had a net margin of 5.31% and a return on equity of 7.30%. The company had revenue of $6.11 billion during the quarter, compared to analysts’ expectations of $6.15 billion. During the same period in the previous year, the company earned $1.60 EPS. The firm’s quarterly revenue was up 1.1% on a year-over-year basis. Research analysts expect that Corteva will post 2.69 EPS for the current fiscal year.

Institutional Trading of Corteva

Several institutional investors and hedge funds have recently bought and sold shares of CTVA. Redmont Wealth Advisors LLC acquired a new position in shares of Corteva during the 1st quarter worth $25,000. Acadian Asset Management LLC acquired a new position in Corteva in the first quarter valued at $25,000. Rise Advisors LLC raised its position in shares of Corteva by 2,522.2% in the 1st quarter. Rise Advisors LLC now owns 472 shares of the company’s stock worth $27,000 after acquiring an additional 454 shares in the last quarter. ICA Group Wealth Management LLC bought a new stake in shares of Corteva during the 4th quarter valued at about $28,000. Finally, Scarborough Advisors LLC acquired a new stake in Corteva during the fourth quarter worth approximately $29,000. Institutional investors 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.