Corteva (NYSE:CTVA) Rating Reiterated by Morgan Stanley

Corteva (NYSE:CTVA)‘s stock had its “overweight” rating reiterated by analysts at Morgan Stanley in a note issued to investors on Tuesday, Benzinga reports. They currently have a $65.00 price objective on the stock. Morgan Stanley’s price objective would indicate a potential upside of 13.74% from the stock’s current price.

CTVA has been the subject of several other research reports. Wells Fargo & Company decreased their price objective on Corteva from $67.00 to $65.00 and set an “overweight” rating for the company in a report on Friday, August 2nd. JPMorgan Chase & Co. decreased their price target on shares of Corteva from $57.00 to $55.00 and set a “neutral” rating for the company in a research note on Friday, August 2nd. KeyCorp dropped their price objective on shares of Corteva from $66.00 to $62.00 and set an “overweight” rating on the stock in a research note on Friday, August 2nd. Mizuho decreased their target price on shares of Corteva from $61.00 to $60.00 and set a “buy” rating for the company in a research report on Tuesday, June 18th. Finally, OTR Global restated a “negative” rating on shares of Corteva in a report on Friday, June 7th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $61.94.

Corteva Trading Down 1.2 %

NYSE CTVA opened at $57.15 on Tuesday. Corteva has a one year low of $43.22 and a one year high of $58.92. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.72 and a quick ratio of 1.17. The business has a 50 day simple moving average of $54.86 and a 200 day simple moving average of $54.82. The stock has a market capitalization of $39.56 billion, a P/E ratio of 72.00, a P/E/G ratio of 1.68 and a beta of 0.77.

Corteva (NYSE:CTVA) last announced its quarterly earnings data on Wednesday, July 31st. The company reported $1.83 EPS for the quarter, topping the consensus estimate of $1.74 by $0.09. The company had revenue of $6.11 billion during the quarter, compared to the consensus estimate of $6.15 billion. Corteva had a net margin of 5.31% and a return on equity of 7.30%. The company’s quarterly revenue was up 1.1% on a year-over-year basis. During the same quarter last year, the firm posted $1.60 EPS. Research analysts expect that Corteva will post 2.69 earnings per share for the current year.

Hedge Funds Weigh In On Corteva

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Mediolanum International Funds Ltd bought a new position in Corteva during the first quarter valued at $2,270,000. Red Mountain Financial LLC purchased a new stake in Corteva during the fourth quarter valued at about $862,000. California State Teachers Retirement System boosted its position in Corteva by 15.1% during the fourth quarter. California State Teachers Retirement System now owns 1,383,280 shares of the company’s stock worth $66,287,000 after purchasing an additional 181,883 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in shares of Corteva by 14.7% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 948,127 shares of the company’s stock worth $54,678,000 after purchasing an additional 121,817 shares in the last quarter. Finally, Los Angeles Capital Management LLC bought a new stake in shares of Corteva in the first quarter valued at approximately $1,965,000. 81.54% of the stock is owned by hedge funds and other institutional investors.

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.