Sunday, April 11, 2021

Corteva Inc. [CTVA] Is Currently 0.23 below its 200 Period Moving Avg: What Dose This Mean?

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Corteva Inc. [NYSE: CTVA] surged by $0.11 during the normal trading session on Friday and reaching a high of $47.67 during the day while it closed the day at $47.07. The company report on March 19, 2021 that Corteva Enters Agreement with Starboard Value.

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Corteva, Inc. (NYSE: CTVA) announced an agreement with Starboard Value LP and its affiliates (“Starboard”), pursuant to which three new independent directors proposed by Starboard—David C. Everitt, Janet P. Giesselman, and Kerry J. Preete—will join Corteva’s Board of Directors (the “Board”), effective immediately, each with terms expiring at the company’s upcoming 2021 Annual Meeting of Stockholders (“2021 Annual Meeting”), currently scheduled to be held on May 7, 2021. The company has also agreed to nominate the three new independent directors for election as directors at the 2021 Annual Meeting.

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Separately, the company announced that Karen H. Grimes will also join the company’s Board, effective immediately, with her term expiring at the 2021 Annual Meeting, when she will stand for election. Lee M. Thomas, Dr. Robert Brown and Lois Juliber will not stand for re-election to the Board at the 2021 Annual Meeting. With the addition of the four new independent directors, the size of the Board will temporarily increase from 12 to 16 directors, and upon the conclusion of the 2021 Annual Meeting, the Board will be reduced to 13 directors, 12 of whom will be independent.

Corteva Inc. stock has also gained 0.36% of its value over the past 7 days. However, CTVA stock has inclined by 20.45% in the 3 months of the year. Over the past six months meanwhile, it has gained 59.13% and gained 21.57% year-on date.

The market cap for CTVA stock reached $34.94 billion, with 746.30 million shares outstanding and 742.95 million shares in the current float. Compared to the average trading volume of 3.32M shares, CTVA reached a trading volume of 9281661 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about Corteva Inc. [CTVA]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for CTVA shares is $46.05 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on CTVA stock is a recommendation set at 2.30. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

JP Morgan have made an estimate for Corteva Inc. shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on February 05, 2021. While these analysts kept the previous recommendation, Monness Crespi & Hardt raised their target price from $24 to $32. The new note on the price target was released on February 05, 2021, representing the official price target for Corteva Inc. stock.

The Average True Range (ATR) for Corteva Inc. is set at 1.32, with the Price to Sales ratio for CTVA stock in the period of the last 12 months amounting to 2.46. The Price to Book ratio for the last quarter was 1.42, with the Price to Cash per share for the same quarter was set at 5.11. Price to Free Cash Flow for CTVA in the course of the last twelve months was 29.09 with Quick ratio for the last quarter at 1.20.

CTVA stock trade performance evaluation

Corteva Inc. [CTVA] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 0.36. With this latest performance, CTVA shares gained by 6.49% in over the last four-week period, additionally plugging by 59.13% over the last 6 months – not to mention a rise of 102.36% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for CTVA stock in for the last two-week period is set at 60.43, with the RSI for the last a single of trading hit 61.05, and the three-weeks RSI is set at 60.22 for Corteva Inc. [CTVA]. The present Moving Average for the last 50 days of trading for this stock 44.10, while it was recorded at 46.86 for the last single week of trading, and 34.70 for the last 200 days.

Corteva Inc. [CTVA]: An insightful look at the core fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Corteva Inc. [CTVA] shares currently have an operating margin of +6.33 and a Gross Margin at +35.77. Corteva Inc.’s Net Margin is presently recorded at +5.18.

Return on Total Capital for CTVA is now 3.47, given the latest momentum, and Return on Invested Capital for the company is 2.88. Return on Equity for this stock inclined to 3.00, with Return on Assets sitting at 1.73. When it comes to the capital structure of this company, Corteva Inc. [CTVA] has a Total Debt to Total Equity ratio set at 6.58. Additionally, CTVA Total Debt to Total Capital is recorded at 6.18, with Total Debt to Total Assets ending up at 3.83. Long-Term Debt to Equity for the company is recorded at 6.01, with the Long-Term Debt to Total Capital now at 5.64.

Reflecting on the efficiency of the workforce at the company, Corteva Inc. [CTVA] managed to generate an average of $35,048 per employee. Receivables Turnover for the company is 2.71 with a Total Asset Turnover recorded at a value of 0.33.Corteva Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.20 and a Current Ratio set at 1.70.

Earnings per share (EPS) analysis for Corteva Inc. [CTVA] stock

With the latest financial reports released by the company, Corteva Inc. posted 0.59/share EPS, while the average EPS was predicted by analysts to be reported at 0.4/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 47.50%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for CTVA. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Corteva Inc. go to 18.25%.

Corteva Inc. [CTVA]: Insider Ownership positions

There are presently around $27,919 million, or 81.10% of CTVA stock, in the hands of institutional investors. The top three institutional holders of CTVA stocks are: VANGUARD GROUP INC with ownership of 85,050,272, which is approximately -1.452% of the company’s market cap and around 0.10% of the total institutional ownership; BLACKROCK INC., holding 64,556,175 shares of the stock with an approximate value of $3.04 billion in CTVA stocks shares; and STATE STREET CORP, currently with $1.99 billion in CTVA stock with ownership of nearly -0.61% of the company’s market capitalization.

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Positions in Corteva Inc. stocks held by institutional investors increased at the end of February and at the time of the February reporting period, where 471 institutional holders increased their position in Corteva Inc. [NYSE:CTVA] by around 32,863,505 shares. Additionally, 482 investors decreased positions by around 41,044,506 shares, while 158 investors held positions by with 519,231,037 shares. The mentioned changes placed institutional holdings at 593,139,048 shares, according to the latest SEC report filing. CTVA stock had 204 new institutional investments in for a total of 5,491,755 shares, while 68 institutional investors sold positions of 3,758,499 shares during the same period.

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