Deutsche Bank Aktiengesellschaft Issues Pessimistic Forecast for Corteva (NYSE:CTVA) Stock Price

Corteva (NYSE:CTVA) had its target price dropped by analysts at Deutsche Bank Aktiengesellschaft from $90.00 to $85.00 in a research report issued to clients and investors on Thursday,MarketScreener reports. The brokerage presently has a “buy” rating on the stock. Deutsche Bank Aktiengesellschaft’s price target suggests a potential upside of 32.72% from the company’s previous close.

CTVA has been the topic of several other research reports. Weiss Ratings lowered Corteva from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, October 8th. JPMorgan Chase & Co. upgraded shares of Corteva from a “neutral” rating to an “overweight” rating and set a $67.00 target price on the stock in a report on Thursday, October 2nd. Zacks Research cut shares of Corteva from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 30th. BMO Capital Markets set a $86.00 price target on shares of Corteva in a research report on Monday, September 15th. Finally, The Goldman Sachs Group lowered their price objective on Corteva from $85.00 to $77.00 and set a “buy” rating for the company in a research report on Wednesday, October 22nd. Fifteen investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $79.35.

Corteva Stock Performance

CTVA opened at $64.05 on Thursday. The firm’s fifty day simple moving average is $66.41 and its two-hundred day simple moving average is $69.38. Corteva has a 52-week low of $53.40 and a 52-week high of $77.41. The company has a market cap of $43.49 billion, a price-to-earnings ratio of 27.37, a PEG ratio of 1.40 and a beta of 0.81. The company has a quick ratio of 1.23, a current ratio of 1.58 and a debt-to-equity ratio of 0.07.

Corteva (NYSE:CTVA) last issued its quarterly earnings results on Tuesday, November 4th. The company reported ($0.23) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.49) by $0.26. Corteva had a return on equity of 9.37% and a net margin of 9.19%.The firm had revenue of $2.62 billion for the quarter, compared to analyst estimates of $2.47 billion. During the same period in the previous year, the company posted ($0.49) earnings per share. The business’s revenue was up 6.5% on a year-over-year basis. Equities analysts anticipate that Corteva will post 2.96 earnings per share for the current fiscal year.

Insider Transactions at Corteva

In related news, EVP Robert D. King sold 37,280 shares of the firm’s stock in a transaction that occurred on Friday, August 29th. The shares were sold at an average price of $74.20, for a total value of $2,766,176.00. Following the sale, the executive vice president owned 49,262 shares of the company’s stock, valued at $3,655,240.40. This trade represents a 43.08% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.14% of the company’s stock.

Institutional Investors Weigh In On Corteva

Large investors have recently modified their holdings of the company. Vanguard Group Inc. grew its position in shares of Corteva by 0.5% during the second quarter. Vanguard Group Inc. now owns 80,188,326 shares of the company’s stock worth $5,976,436,000 after acquiring an additional 373,680 shares during the last quarter. Geode Capital Management LLC lifted its position in Corteva by 1.4% in the second quarter. Geode Capital Management LLC now owns 18,047,263 shares of the company’s stock valued at $1,339,651,000 after purchasing an additional 251,693 shares during the period. Franklin Resources Inc. boosted its stake in shares of Corteva by 4.9% in the second quarter. Franklin Resources Inc. now owns 17,680,238 shares of the company’s stock valued at $1,317,708,000 after buying an additional 824,451 shares in the last quarter. Independent Franchise Partners LLP increased its holdings in shares of Corteva by 1.8% in the 1st quarter. Independent Franchise Partners LLP now owns 16,785,300 shares of the company’s stock valued at $1,056,299,000 after purchasing an additional 288,792 shares in the last quarter. Finally, Northern Trust Corp lifted its position in shares of Corteva by 1.0% during the 1st quarter. Northern Trust Corp now owns 11,759,755 shares of the company’s stock valued at $740,041,000 after acquiring an additional 110,865 shares during the period. 81.54% of the stock is owned by hedge funds and other 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.