Corteva Inc [NYSE: CTVA] traded at a high on Tuesday, posting a 0.04 gain after which it closed the day’ session at $55.11. The company report on March 6, 2024 at 7:00 AM that AgPlenus Achieves Milestone in Collaboration with Corteva to Develop Novel Herbicides.
AgPlenus Ltd., a global leader in designing and developing novel sustainable crop protection products and a subsidiary of Evogene Ltd. (Nasdaq: EVGN) (TASE: EVGN), announces today that it has achieved a milestone in the collaboration with Corteva Agriscience (NYSE: CTVA), a leading pure-play agriculture company, for the development of novel herbicides. The milestone marks the successful identification of a new family of molecules exhibiting herbicidal effect through a novel Mode of Action (MoA), APCO-12, discovered by AgPlenus.
The results of the trading session contributed to over 4352649 shares changing hands. Over the past one week, the price volatility of Corteva Inc stands at 1.61% while the volatility over the past one month is 1.59%.
The market cap for CTVA stock reached $38.68 billion, with 701.26 million shares outstanding and 700.65 million shares in the current float. Compared to the average trading volume of 4.17M shares, CTVA reached a trading volume of 4352649 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 $61.20 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 1.48. 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.
Wolfe Research have made an estimate for Corteva Inc shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on March 01, 2024. While these analysts kept the previous recommendation, Loop Capital raised their target price from $57 to $65. The new note on the price target was released on February 12, 2024, representing the official price target for Corteva Inc stock. Previously, the target price had yet another raise to $53, while Exane BNP Paribas analysts kept a Neutral rating on CTVA stock. On November 27, 2023, analysts decreased their price target for CTVA shares from 63 to 52.
The Average True Range (ATR) for Corteva Inc is set at 1.05, with the Price to Sales ratio for CTVA stock in the period of the last 12 months amounting to 2.25. The Price to Book ratio for the last quarter was 1.54, with the Price to Cash per share for the same quarter was set at 4.64. Price to Free Cash Flow for CTVA in the course of the last twelve months was 32.94 with Quick ratio for the last quarter at 0.90.
How has CTVA stock performed recently?
Corteva Inc [CTVA] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 2.17. With this latest performance, CTVA shares gained by 2.82% in over the last four-week period, additionally plugging by 10.64% over the last 6 months – not to mention a drop of -6.42% 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 64.62, with the RSI for the last a single of trading hit 66.64, and the three-weeks RSI is set at 63.28 for Corteva Inc [CTVA]. The present Moving Average for the last 50 days of trading for this stock 50.61, while it was recorded at 54.68 for the last single week of trading, and 51.21 for the last 200 days.
Corteva Inc [CTVA]: Deeper insight into the fundamentals
Corteva Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.90 and a Current Ratio set at 1.56.
Earnings analysis for Corteva Inc [CTVA]
With the latest financial reports released by the company, Corteva Inc posted 1.16/share EPS, while the average EPS was predicted by analysts to be reported at 0.93/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 24.70%. 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 11.95%.
Insider trade positions for Corteva Inc [CTVA]
The top three institutional holders of CTVA stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in CTVA stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in CTVA stock with ownership which is approximately 5.8325%.
