Corteva Inc. [NYSE: CTVA] stock went on an upward path that rose over 0.87% on Tuesday, amounting to a one-week price increase of more than 3.86%. The company report on September 13, 2022 that Corteva Agriscience Announces $2 Billion Share Repurchase Program.
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Reflects Company’s Focus on Returning Capital to Shareholders.
Corteva, Inc. (NYSE: CTVA) today announced that its Board of Directors authorized a new $2 billion share repurchase program. The authorization is immediately effective, does not expire, and gives management discretion in determining the conditions under which shares may be purchased.
Over the last 12 months, CTVA stock rose by 45.22%. The one-year Corteva Inc. stock forecast points to a potential upside of 5.86. The average equity rating for CTVA stock is currently 2.30, trading closer to a bullish pattern in the stock market.
The market cap for the stock reached $45.32 billion, with 723.00 million shares outstanding and 717.64 million shares in the current float. Compared to the average trading volume of 3.20M shares, CTVA stock reached a trading volume of 4919153 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Guru’s Opinion on 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 $66.55 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.
ROTH Capital have made an estimate for Corteva Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on August 08, 2022. While these analysts kept the previous recommendation, JP Morgan raised their target price from $58 to $63. The new note on the price target was released on August 08, 2022, representing the official price target for Corteva Inc. stock. Previously, the target price had yet another raise to $68, while Credit Suisse analysts kept a Outperform rating on CTVA stock.
The Average True Range (ATR) for Corteva Inc. is set at 1.49, with the Price to Sales ratio for CTVA stock in the period of the last 12 months amounting to 2.71. The Price to Book ratio for the last quarter was 1.75, with the Price to Cash per share for the same quarter was set at 3.67. Price to Free Cash Flow for CTVA in the course of the last twelve months was 63.03 with Quick ratio for the last quarter at 1.30.
CTVA Stock Performance Analysis:
Corteva Inc. [CTVA] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 3.86. With this latest performance, CTVA shares gained by 1.44% in over the last four-week period, additionally plugging by 15.57% over the last 6 months – not to mention a rise of 45.22% 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 61.51, with the RSI for the last a single of trading hit 61.76, and the three-weeks RSI is set at 60.73 for Corteva Inc. [CTVA]. The present Moving Average for the last 50 days of trading for this stock 58.02, while it was recorded at 62.23 for the last single week of trading, and 54.45 for the last 200 days.
Insight into Corteva Inc. Fundamentals:
Operating Margin for any stock indicates how profitable investing would be, and Corteva Inc. [CTVA] shares currently have an operating margin of +8.53 and a Gross Margin at +36.61. Corteva Inc.’s Net Margin is presently recorded at +11.57.
Return on Equity for this stock inclined to 7.22, with Return on Assets sitting at 4.26.
Corteva Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.30 and a Current Ratio set at 1.90.
CTVA Stock EPS
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 16.25%.
Corteva Inc. [CTVA] Insider Position Details
There are presently around $36,476 million, or 83.10% of CTVA stock, in the hands of institutional investors. The top three institutional holders of CTVA stocks are: VANGUARD GROUP INC with ownership of 81,754,857, which is approximately 1.228% of the company’s market cap and around 0.10% of the total institutional ownership; BLACKROCK INC., holding 60,262,771 shares of the stock with an approximate value of $3.78 billion in CTVA stocks shares; and STATE STREET CORP, currently with $2.28 billion in CTVA stock with ownership of nearly -1.12% of the company’s market capitalization.
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 518 institutional holders increased their position in Corteva Inc. [NYSE:CTVA] by around 60,844,173 shares. Additionally, 541 investors decreased positions by around 51,280,387 shares, while 255 investors held positions by with 470,095,932 shares. The mentioned changes placed institutional holdings at 582,220,492 shares, according to the latest SEC report filing. CTVA stock had 120 new institutional investments in for a total of 9,340,063 shares, while 104 institutional investors sold positions of 3,132,427 shares during the same period.