Barclays Increases Corteva (NYSE:CTVA) Price Target to $64.00

Corteva (NYSE:CTVA) had its target price upped by analysts at Barclays from $62.00 to $64.00 in a report released on Tuesday,Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Barclays‘s target price points to a potential upside of 2.37% from the company’s current price.

Other research analysts also recently issued research reports about the stock. Oppenheimer restated an “outperform” rating and issued a $70.00 price target (up previously from $69.00) on shares of Corteva in a research report on Friday, November 8th. UBS Group dropped their target price on shares of Corteva from $74.00 to $73.00 and set a “buy” rating on the stock in a report on Friday, January 10th. Royal Bank of Canada upped their price target on shares of Corteva from $68.00 to $73.00 and gave the company an “outperform” rating in a research report on Thursday, December 19th. Wells Fargo & Company lifted their price objective on Corteva from $65.00 to $67.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 20th. Finally, Morgan Stanley restated an “overweight” rating and set a $65.00 target price on shares of Corteva in a research report on Tuesday, September 24th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $65.59.

Corteva Stock Down 1.0 %

Shares of NYSE CTVA opened at $62.52 on Tuesday. The company has a 50 day simple moving average of $59.15 and a 200 day simple moving average of $57.26. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.50 and a quick ratio of 0.96. Corteva has a 1 year low of $44.91 and a 1 year high of $64.20. The firm has a market cap of $42.97 billion, a PE ratio of 63.15, a price-to-earnings-growth ratio of 1.62 and a beta of 0.77.

Corteva announced that its Board of Directors has authorized a stock repurchase program on Tuesday, November 19th that permits the company to repurchase $3.00 billion in shares. This repurchase authorization permits the company to reacquire up to 7.5% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s board believes its stock is undervalued.

Institutional Trading of Corteva

Several hedge funds and other institutional investors have recently modified their holdings of the business. KBC Group NV increased its position in shares of Corteva by 267.3% during the third quarter. KBC Group NV now owns 1,120,104 shares of the company’s stock valued at $65,851,000 after buying an additional 815,135 shares during the period. Oak Thistle LLC purchased a new position in Corteva during the fourth quarter valued at approximately $1,514,000. Charles Schwab Investment Management Inc. increased its holdings in Corteva by 1.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 4,523,996 shares of the company’s stock worth $265,966,000 after acquiring an additional 66,052 shares during the period. Assenagon Asset Management S.A. lifted its stake in Corteva by 755.8% in the 4th quarter. Assenagon Asset Management S.A. now owns 552,769 shares of the company’s stock worth $31,486,000 after purchasing an additional 488,181 shares in the last quarter. Finally, S.E.E.D. Planning Group LLC boosted its holdings in Corteva by 54.5% in the 4th quarter. S.E.E.D. Planning Group LLC now owns 96,103 shares of the company’s stock valued at $5,474,000 after purchasing an additional 33,886 shares during the period. 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.