Corning (NYSE:GLW) Upgraded to “Buy” at Wall Street Zen

Corning (NYSE:GLW) was upgraded by analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research report issued on Saturday.

A number of other analysts also recently issued reports on the company. Oppenheimer lifted their price objective on Corning from $210.00 to $230.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 7th. UBS Group set a $243.00 target price on shares of Corning in a report on Monday, July 6th. Bank of America boosted their price target on shares of Corning from $223.00 to $243.00 and gave the stock a “buy” rating in a research report on Monday, July 6th. Citigroup upped their price target on shares of Corning from $225.00 to $240.00 and gave the company a “buy” rating in a research note on Monday. Finally, Mizuho increased their price objective on shares of Corning from $220.00 to $270.00 and gave the company an “outperform” rating in a research report on Wednesday, July 1st. Ten equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $194.69.

Corning Trading Down 2.5%

Shares of Corning stock opened at $154.47 on Friday. Corning has a twelve month low of $53.29 and a twelve month high of $271.78. The company has a quick ratio of 1.06, a current ratio of 1.61 and a debt-to-equity ratio of 0.62. The business has a 50-day moving average price of $192.81 and a 200-day moving average price of $152.85. The firm has a market cap of $132.94 billion, a price-to-earnings ratio of 73.91, a PEG ratio of 2.08 and a beta of 1.09.

Corning (NYSE:GLW) last posted its earnings results on Tuesday, April 28th. The electronics maker reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.69 by $0.01. Corning had a return on equity of 19.45% and a net margin of 11.09%.The company had revenue of $4.34 billion for the quarter, compared to the consensus estimate of $4.30 billion. During the same period in the previous year, the business earned $0.54 earnings per share. The firm’s revenue for the quarter was up 18.1% on a year-over-year basis. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. Equities research analysts anticipate that Corning will post 3.18 EPS for the current fiscal year.

Insider Activity at Corning

In other news, SVP Jaymin Amin sold 27,395 shares of the stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $192.14, for a total value of $5,263,675.30. Following the sale, the senior vice president owned 94,400 shares of the company’s stock, valued at approximately $18,138,016. This represents a 22.49% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP John Z. Zhang sold 10,000 shares of the stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $198.34, for a total transaction of $1,983,400.00. Following the completion of the sale, the vice president directly owned 5,138 shares in the company, valued at $1,019,070.92. This trade represents a 66.06% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 160,655 shares of company stock valued at $30,692,560 over the last three months. Corporate insiders own 0.25% of the company’s stock.

Institutional Investors Weigh In On Corning

Several hedge funds and other institutional investors have recently modified their holdings of GLW. Atwood & Palmer Inc. bought a new position in Corning in the 2nd quarter valued at $26,000. First Community Trust NA bought a new stake in shares of Corning during the second quarter worth $72,000. Berbice Capital Management LLC purchased a new stake in shares of Corning during the fourth quarter valued at $26,000. Basepoint Wealth LLC purchased a new stake in shares of Corning during the fourth quarter valued at $26,000. Finally, MBM Wealth Consultants LLC bought a new position in shares of Corning in the first quarter worth about $42,000. 69.80% of the stock is currently owned by hedge funds and other institutional investors.

About Corning

Corning Incorporated is a global manufacturer specializing in specialty glass, ceramics and related materials and technologies. Headquartered in Corning, New York, the company supplies engineered materials and components used across multiple industries, including consumer electronics, telecommunications, automotive emissions control, pharmaceutical and life sciences, and industrial and scientific applications. Corning emphasizes materials science and precision manufacturing to develop durable, high-performance glass and ceramic products.

Key product lines include specialty display glass used by television and mobile-device manufacturers, cover glass marketed under well-known trade names for smartphones and tablets, and optical fiber and cable and related hardware for telecommunications networks.