Market Analysts see Corteva Inc. [CTVA] falling to $42. Time to buy?

Corteva Inc. [NYSE: CTVA] slipped around -0.41 points on Tuesday, while shares priced at $44.09 at the close of the session, down -0.92%. The company report on June 23, 2021 that Corteva Chief Executive Officer James C. Collins, Jr. to Retire at Year End.

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Corteva, Inc. (NYSE: CTVA) announced that James (Jim) C. Collins, Jr., Chief Executive Officer, will retire from Corteva, effective December 31, 2021, after more than 37 years with the company and its predecessor, DuPont. Mr. Collins has agreed to continue in his role as CEO while an external search for his successor is underway.

“Over the past several years, Jim guided the creation and launch of Corteva as a leading, independent global agriculture company and he will leave the company on a very strong footing,” said Greg Page, Independent Chairman of Corteva. “The Board and I are grateful for everything Jim accomplished for our company, its employees and customers, and our shareholders. Through Jim’s contributions, the company is well positioned to continue strong forward momentum looking ahead. We will begin the search for Jim’s successor immediately and appreciate his willingness to remain in place to assure a smooth transition.”.

Corteva Inc. stock is now 13.87% up from its year-to-date (YTD) trading value. CTVA Stock saw the intraday high of $44.50 and lowest of $43.82 per share. The company’s 52-week high price is 49.98, which means current price is +20.66% above from all time high which was touched on 05/10/21.

Compared to the average trading volume of 3.20M shares, CTVA reached a trading volume of 2175604 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus 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 $49.00 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 2.50. 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.

BofA Securities have made an estimate for Corteva Inc. shares, keeping their opinion on the stock as Underperform, with their previous recommendation back on May 10, 2021. The new note on the price target was released on April 19, 2021, representing the official price target for Corteva Inc. stock. Previously, the target price had yet another raise to $51, while JP Morgan analysts kept a Overweight rating on CTVA stock. On February 05, 2021, analysts increased their price target for CTVA shares from 24 to 32.

The Average True Range (ATR) for Corteva Inc. is set at 0.82, with the Price to Sales ratio for CTVA stock in the period of the last 12 months amounting to 2.26. The Price to Book ratio for the last quarter was 1.34, with the Price to Cash per share for the same quarter was set at 3.41. Price to Free Cash Flow for CTVA in the course of the last twelve months was 27.80 with Quick ratio for the last quarter at 1.20.

How has CTVA stock performed recently?

Corteva Inc. [CTVA] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -0.56. With this latest performance, CTVA shares dropped by -4.07% in over the last four-week period, additionally plugging by 14.97% over the last 6 months – not to mention a rise of 60.15% 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 44.20, with the RSI for the last a single of trading hit 45.00, and the three-weeks RSI is set at 44.30 for Corteva Inc. [CTVA]. The present Moving Average for the last 50 days of trading for this stock 45.71, while it was recorded at 44.37 for the last single week of trading, and 41.42 for the last 200 days.

Corteva Inc. [CTVA]: Deeper insight into the 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 analysis for Corteva Inc. [CTVA]

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 19.55%.

Insider trade positions for Corteva Inc. [CTVA]

There are presently around $26,045 million, or 81.50% of CTVA stock, in the hands of institutional investors. The top three institutional holders of CTVA stocks are: VANGUARD GROUP INC with ownership of 79,593,391, which is approximately -6.416% of the company’s market cap and around 0.10% of the total institutional ownership; BLACKROCK INC., holding 63,254,984 shares of the stock with an approximate value of $2.79 billion in CTVA stocks shares; and STATE STREET CORP, currently with $1.87 billion in CTVA stock with ownership of nearly 0.315% of the company’s market capitalization.

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Positions in Corteva Inc. stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 426 institutional holders increased their position in Corteva Inc. [NYSE:CTVA] by around 37,676,640 shares. Additionally, 505 investors decreased positions by around 39,786,550 shares, while 214 investors held positions by with 513,249,368 shares. The mentioned changes placed institutional holdings at 590,712,558 shares, according to the latest SEC report filing. CTVA stock had 119 new institutional investments in for a total of 3,626,274 shares, while 74 institutional investors sold positions of 3,017,838 shares during the same period.

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