Wall Street Zen Downgrades Corning (NYSE:GLW) to Buy

Corning (NYSE:GLW) was downgraded by investment analysts at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a note issued to investors on Sunday.

GLW has been the topic of several other research reports. Bank of America upped their price objective on Corning from $223.00 to $243.00 and gave the stock a “buy” rating in a research report on Monday, July 6th. Mizuho cut their target price on shares of Corning from $270.00 to $210.00 and set an “outperform” rating for the company in a report on Wednesday, July 29th. Truist Financial upgraded shares of Corning from a “hold” rating to a “buy” rating and decreased their target price for the company from $205.00 to $175.00 in a research note on Sunday, August 2nd. Morgan Stanley lowered their price target on shares of Corning from $180.00 to $165.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 29th. Finally, Citigroup dropped their price target on shares of Corning from $240.00 to $220.00 and set a “buy” rating on the stock in a research report on Wednesday, July 29th. Eleven investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $174.08.

Corning Stock Performance

Shares of GLW stock opened at $173.29 on Friday. The stock has a market cap of $149.27 billion, a PE ratio of 79.13, a price-to-earnings-growth ratio of 2.12 and a beta of 1.14. The business has a 50-day simple moving average of $176.54 and a 200-day simple moving average of $162.37. The company has a quick ratio of 1.24, a current ratio of 1.81 and a debt-to-equity ratio of 0.59. Corning has a 52-week low of $63.37 and a 52-week high of $271.78.

Corning (NYSE:GLW) last issued its earnings results on Tuesday, July 28th. The electronics maker reported $0.78 EPS for the quarter, topping analysts’ consensus estimates of $0.76 by $0.02. The firm had revenue of $4.74 billion for the quarter, compared to the consensus estimate of $4.63 billion. Corning had a return on equity of 20.09% and a net margin of 11.20%.The company’s revenue was up 17.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.60 earnings per share. Corning has set its Q3 2026 guidance at 0.850-0.890 EPS. On average, equities analysts expect that Corning will post 3.27 EPS for the current year.

Insider Activity at Corning

In related news, CEO Wendell P. Weeks sold 100,000 shares of Corning stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of $186.46, for a total value of $18,646,000.00. Following the sale, the chief executive officer owned 908,353 shares of the company’s stock, valued at approximately $169,371,500.38. This trade represents a 9.92% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Jaymin Amin sold 27,395 shares of the business’s stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $192.14, for a total transaction of $5,263,675.30. Following the completion of the sale, the senior vice president directly owned 94,400 shares of the company’s stock, valued at approximately $18,138,016. The trade was a 22.49% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.25% of the company’s stock.

Hedge Funds Weigh In On Corning

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Alliance Wealth Advisors LLC increased its stake in shares of Corning by 1.4% during the second quarter. Alliance Wealth Advisors LLC now owns 4,045 shares of the electronics maker’s stock worth $1,033,000 after purchasing an additional 56 shares in the last quarter. Ares Financial Consulting LLC lifted its stake in Corning by 15.6% in the 2nd quarter. Ares Financial Consulting LLC now owns 444 shares of the electronics maker’s stock valued at $113,000 after buying an additional 60 shares in the last quarter. Signature Equity Partners LLC lifted its stake in Corning by 19.3% in the 1st quarter. Signature Equity Partners LLC now owns 383 shares of the electronics maker’s stock valued at $52,000 after buying an additional 62 shares in the last quarter. Beirne Wealth Consulting Services LLC boosted its holdings in Corning by 0.8% in the 1st quarter. Beirne Wealth Consulting Services LLC now owns 8,045 shares of the electronics maker’s stock worth $1,094,000 after buying an additional 64 shares during the last quarter. Finally, Balefire LLC boosted its holdings in Corning by 0.7% in the 1st quarter. Balefire LLC now owns 9,595 shares of the electronics maker’s stock worth $1,305,000 after buying an additional 65 shares during the last quarter. 69.80% of the stock is 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.