Corteva (NYSE:CTVA) Upgraded at Argus

Corteva (NYSE:CTVA) was upgraded by stock analysts at Argus from a “hold” rating to a “buy” rating in a research note issued to investors on Monday, Marketbeat.com reports. The brokerage currently has a $69.00 price objective on the stock. Argus’ price target would indicate a potential upside of 12.96% from the company’s current price.

CTVA has been the topic of a number of other research reports. Royal Bank of Canada raised their target price on shares of Corteva from $72.00 to $73.00 and gave the stock an “outperform” rating in a research report on Friday, February 7th. Wells Fargo & Company lifted their price objective on Corteva from $67.00 to $73.00 and gave the company an “overweight” rating in a research report on Tuesday, January 28th. The Goldman Sachs Group started coverage on Corteva in a research report on Thursday, March 13th. They set a “buy” rating and a $71.00 target price on the stock. Bank of America upped their price objective on shares of Corteva from $69.00 to $73.00 and gave the company a “buy” rating in a research note on Tuesday, February 11th. Finally, BNP Paribas raised shares of Corteva to a “hold” rating in a research report on Monday, February 10th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $68.06.

Corteva Stock Performance

NYSE CTVA opened at $61.08 on Monday. The company has a quick ratio of 0.93, a current ratio of 1.45 and a debt-to-equity ratio of 0.08. Corteva has a fifty-two week low of $50.01 and a fifty-two week high of $66.24. The business has a fifty day moving average of $62.53 and a 200-day moving average of $60.13. The stock has a market cap of $41.72 billion, a price-to-earnings ratio of 47.35, a price-to-earnings-growth ratio of 1.68 and a beta of 0.79.

Corteva (NYSE:CTVA) last released its earnings results on Wednesday, February 5th. The company reported $0.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.02). Corteva had a net margin of 5.36% and a return on equity of 7.19%. As a group, analysts predict that Corteva will post 2.96 earnings per share for the current fiscal year.

Insider Buying and Selling at Corteva

In other news, insider Brian Titus sold 26,560 shares of the firm’s stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $63.74, for a total transaction of $1,692,934.40. Following the completion of the sale, the insider now owns 11,347 shares of the company’s stock, valued at approximately $723,257.78. This trade represents a 70.07 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.14% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Townsquare Capital LLC grew its stake in Corteva by 13.1% in the third quarter. Townsquare Capital LLC now owns 29,739 shares of the company’s stock worth $1,748,000 after purchasing an additional 3,449 shares in the last quarter. Public Sector Pension Investment Board lifted its holdings in Corteva by 11.3% during the 3rd quarter. Public Sector Pension Investment Board now owns 29,502 shares of the company’s stock worth $1,734,000 after buying an additional 3,000 shares during the last quarter. Verition Fund Management LLC grew its position in shares of Corteva by 8.5% in the 3rd quarter. Verition Fund Management LLC now owns 69,153 shares of the company’s stock worth $4,066,000 after acquiring an additional 5,426 shares in the last quarter. Erste Asset Management GmbH bought a new stake in shares of Corteva in the 3rd quarter valued at approximately $808,000. Finally, Benjamin Edwards Inc. raised its position in shares of Corteva by 64.9% during the 3rd quarter. Benjamin Edwards Inc. now owns 8,528 shares of the company’s stock valued at $502,000 after acquiring an additional 3,357 shares in the last quarter. 81.54% of the stock is currently owned by institutional investors.

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.