BofA Securities has recently raised Corteva Inc (CTVA) stock to Buy rating, as announced on October 16, 2024, according to Finviz. Earlier, on August 7, 2024, Argus had reduced the stock from a Buy to Hold. JP Morgan also reduced Neutral rating with a price target of $57. Additionally, Wolfe Research initiated Outperform rating on March 1, 2024, with a target price of $67. Loop Capital analysts, in their report published on February 12, 2024, also raised Buy rating and set a price target of $65 for Corteva Inc’s stock. Analyst ratings are significant because they provide insights into stock performance expectations, influencing investor decisions and market sentiment.
Corteva Inc (CTVA) Stock Trading Recap
On Tuesday, Corteva Inc (CTVA) stock saw a decline, ending the day at $59.12 which represents a decrease of $-0.13 or -0.22% from the prior close of $59.25. The stock opened at $58.97 and touched a low of $58.33 during the day, reaching a high of $59.2. The volume of shares traded was 2.32 million falling short of the average volume of 2.81 million.
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CTVA Stock Performance and Moving Averages
In recent trading, Corteva Inc (CTVA) stock price has shown some volatility, fluctuating 3.18% over the last five trades and 1.93% over the past 30 trades. This represents a notable shift from earlier in the year. Over the last six months, the stock has risen by 7.14%, and it has gained 9.85% in the previous three months. Currently, CTVA is trading at 1.88%, 4.54%, and 8.97% relative to its 20-Day, 50-Day, and 200-Day Simple Moving Averages, respectively.
As of the latest trading close, CTVA, a Basic Materials sector stock, is trading -0.94% below its 52-week high but remains 36.79% above its 52-week low. The Average True Range (ATR) (14 days) of 1.02 highlights the stock’s average volatility, providing insight into how much the price typically fluctuates. This measure is crucial for understanding potential price swings and assessing overall market risk.
Corteva Inc’s Profitability and Valuation Ratios
Corteva Inc’s profitability metrics reveal strong financial health. The company currently boasts an operating margin of 13.85% and a profit margin of 5.31%, with a gross margin of 7.14%. The profit margin, also known as the revenue ratio or gross profit ratio, measures how efficiently a company converts sales into net income; higher margins indicate greater profitability.
In terms of valuation, Corteva Inc’s market capitalization stands at $40.93 billion. Market cap represents the total value of all outstanding shares and is a key indicator of a company’s market value. The stock’s price-to-earnings (P/E) ratio is 45.75, assessing the company’s valuation relative to its earnings. The forward P/E ratio, which uses projected earnings for the next financial year, is 17.79. Additionally, the Price-to-Sales Ratio is 2.42, reflecting the market’s valuation of the company’s sales, while the Price-to-Book Ratio is 1.63, comparing the market value to the company’s book value.
Understanding Insider Trading
Investors often prefer to invest in shares held by company insiders, as management is typically more aligned with the company’s success and shareholder interests. Currently, insiders own just 0.16% of Corteva Inc (CTVA)’s shares, while financial institutions hold 84.38%.
Notable insider trades include FUERER CORNEL B, SVP, Gen Counsel and Secretary at Corteva Inc (CTVA), who sold 39736 shares on May 14 ’24, at $57.41 each, totaling $2.28 million. On May 09 ’24, Eathington Samuel R, See Remarks, sold 31686 shares for $57.64 each, amounting to $1.83 million. Additionally, on May 06 ’24, TITUS BRIAN sold 12134 shares at $56.65 each, generating $0.69 million.
