Corteva (NYSE:CTVA - Get Free Report) had its price objective dropped by equities researchers at Citigroup from $70.00 to $69.00 in a report issued on Wednesday,Benzinga reports. The firm presently has a "buy" rating on the stock. Citigroup's target price would indicate a potential upside of 17.33% from the company's previous close.
Several other research firms have also recently weighed in on CTVA. UBS Group boosted their price target on shares of Corteva from $67.00 to $71.00 and gave the stock a "buy" rating in a report on Thursday, November 7th. Morgan Stanley restated an "overweight" rating and issued a $65.00 target price on shares of Corteva in a research note on Tuesday, September 24th. Wells Fargo & Company increased their price target on Corteva from $65.00 to $67.00 and gave the company an "overweight" rating in a research report on Wednesday, November 20th. Royal Bank of Canada cut their price objective on Corteva from $69.00 to $68.00 and set an "outperform" rating on the stock in a research report on Monday, November 11th. Finally, KeyCorp raised their target price on Corteva from $66.00 to $69.00 and gave the company an "overweight" rating in a research report on Thursday, November 21st. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $65.12.
Read Our Latest Stock Analysis on Corteva
NYSE CTVA traded up $0.24 on Wednesday, reaching $58.81. The company had a trading volume of 274,692 shares, compared to its average volume of 3,294,699. The company has a quick ratio of 0.96, a current ratio of 1.50 and a debt-to-equity ratio of 0.08. The stock has a market capitalization of $40.42 billion, a P/E ratio of 59.40, a P/E/G ratio of 1.94 and a beta of 0.77. The company's fifty day moving average is $59.74 and its 200 day moving average is $56.31. Corteva has a 52-week low of $44.01 and a 52-week high of $64.20.
Corteva declared that its board has approved a stock buyback program on Tuesday, November 19th that authorizes the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization authorizes the company to buy up to 7.5% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company's management believes its shares are undervalued.
Several institutional investors have recently bought and sold shares of the stock. &PARTNERS boosted its position in Corteva by 238.2% during the 2nd quarter. &PARTNERS now owns 16,332 shares of the company's stock valued at $876,000 after buying an additional 11,503 shares during the period. Diversified LLC bought a new stake in Corteva in the second quarter valued at $246,000. Premier Path Wealth Partners LLC increased its position in Corteva by 12.0% during the 2nd quarter. Premier Path Wealth Partners LLC now owns 7,840 shares of the company's stock valued at $423,000 after purchasing an additional 837 shares during the period. Grove Bank & Trust raised its holdings in Corteva by 17.8% in the 2nd quarter. Grove Bank & Trust now owns 7,686 shares of the company's stock worth $415,000 after purchasing an additional 1,160 shares in the last quarter. Finally, Family Firm Inc. purchased a new stake in shares of Corteva in the 2nd quarter worth about $97,000. 81.54% of the stock is currently owned by hedge funds and other institutional investors.
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.
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