Corteva (NYSE:CTVA) Price Target Raised to $73.00 at Wells Fargo & Company

Corteva (NYSE:CTVA) had its price objective upped by stock analysts at Wells Fargo & Company from $67.00 to $73.00 in a research report issued on Tuesday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Wells Fargo & Company‘s price target indicates a potential upside of 12.20% from the stock’s current price.

A number of other brokerages also recently weighed in on CTVA. KeyCorp dropped their target price on Corteva from $69.00 to $68.00 and set an “overweight” rating on the stock in a report on Friday, January 10th. UBS Group cut their target price on shares of Corteva from $74.00 to $73.00 and set a “buy” rating for the company in a research 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 stock an “outperform” rating in a research note on Thursday, December 19th. Oppenheimer reiterated an “outperform” rating and set a $70.00 price objective (up from $69.00) on shares of Corteva in a report on Friday, November 8th. Finally, Citigroup dropped their target price on Corteva from $70.00 to $69.00 and set a “buy” rating on the stock in a research report on Wednesday, December 18th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $66.24.

Corteva Stock Performance

Shares of CTVA stock opened at $65.06 on Tuesday. The stock’s fifty day simple moving average is $59.83 and its 200-day simple moving average is $57.69. The company has a market capitalization of $44.72 billion, a price-to-earnings ratio of 65.72, a P/E/G ratio of 1.63 and a beta of 0.77. The company has a current ratio of 1.50, a quick ratio of 0.96 and a debt-to-equity ratio of 0.08. Corteva has a 1-year low of $45.46 and a 1-year high of $65.44.

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

Institutional Trading of Corteva

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CTVA. Hager Investment Management Services LLC bought a new stake in shares of Corteva in the fourth quarter valued at approximately $27,000. Golden State Wealth Management LLC bought a new stake in Corteva in the 4th quarter valued at $32,000. Capital Advisors Ltd. LLC grew its position in Corteva by 44.4% in the 3rd quarter. Capital Advisors Ltd. LLC now owns 566 shares of the company’s stock worth $33,000 after purchasing an additional 174 shares during the last quarter. First Financial Corp IN bought a new position in shares of Corteva during the 4th quarter worth about $35,000. Finally, Albion Financial Group UT raised its position in shares of Corteva by 112.6% during the fourth quarter. Albion Financial Group UT now owns 606 shares of the company’s stock valued at $35,000 after buying an additional 321 shares during the last quarter. Institutional investors and hedge funds 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.