Argus Upgrades Corteva (NYSE:CTVA) to Buy

Corteva (NYSE:CTVA) was upgraded by equities researchers at Argus from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Monday, Marketbeat Ratings reports. The firm presently has a $69.00 price target on the stock. Argus’ price objective would suggest a potential upside of 12.96% from the company’s current price.

A number of other analysts also recently issued reports on the company. Citigroup upped their price target on Corteva from $69.00 to $74.00 and gave the stock a “buy” rating in a research note on Wednesday, January 29th. BNP Paribas upgraded Corteva to a “hold” rating in a report on Monday, February 10th. Royal Bank of Canada boosted their price target on shares of Corteva from $72.00 to $73.00 and gave the stock an “outperform” rating in a research note on Friday, February 7th. KeyCorp increased their price target on shares of Corteva from $68.00 to $70.00 and gave the stock an “overweight” rating in a research report on Friday, February 7th. Finally, The Goldman Sachs Group started coverage on shares of Corteva in a report on Thursday, March 13th. They issued a “buy” rating and a $71.00 price objective for the company. One research analyst has rated the stock with a sell rating, three have given a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat, Corteva currently has an average rating of “Moderate Buy” and a consensus price target of $68.06.

Corteva Price Performance

Shares of Corteva stock opened at $61.08 on Monday. The business has a 50 day simple moving average of $62.53 and a two-hundred day simple moving average of $60.13. Corteva has a 12 month low of $50.01 and a 12 month high of $66.24. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.45 and a quick ratio of 0.93. The stock has a market capitalization of $41.72 billion, a P/E ratio of 47.35, a PEG ratio of 1.68 and a beta of 0.79.

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

Insider Buying and Selling at Corteva

In other Corteva news, insider Brian Titus sold 26,560 shares of Corteva stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $63.74, for a total value of $1,692,934.40. Following the transaction, the insider now directly owns 11,347 shares in the company, valued at approximately $723,257.78. This trade represents a 70.07 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.14% of the stock is currently owned by company insiders.

Institutional Trading of Corteva

Hedge funds have recently made changes to their positions in the company. Flagship Wealth Advisors LLC purchased a new position in shares of Corteva during the 4th quarter worth approximately $25,000. Noble Wealth Management PBC purchased a new position in Corteva in the fourth quarter worth $26,000. Hager Investment Management Services LLC acquired a new stake in Corteva in the fourth quarter valued at $27,000. Pinney & Scofield Inc. purchased a new stake in shares of Corteva during the 4th quarter worth $27,000. Finally, LGT Financial Advisors LLC acquired a new position in shares of Corteva during the 4th quarter worth $31,000. Institutional investors and hedge funds 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.