Corning (NYSE:GLW) Stock Bumped Up to “Strong-Buy” by Zacks Research

Corning (NYSE:GLW) was upgraded by analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research report issued to clients and investors on Wednesday, Zacks reports.

Several other analysts also recently issued reports on the company. Morgan Stanley dropped their price target on Corning from $165.00 to $155.00 and set an “equal weight” rating on the stock in a research note on Wednesday. Citigroup reaffirmed a “buy” rating on shares of Corning in a research report on Tuesday. UBS Group decreased their price objective on Corning from $201.00 to $192.00 and set a “buy” rating for the company in a report on Wednesday. Mizuho dropped their target price on Corning from $210.00 to $180.00 and set an “outperform” rating on the stock in a research report on Tuesday, September 15th. Finally, Sanford C. Bernstein initiated coverage on Corning in a research note on Wednesday, September 30th. They issued a “market perform” rating and a $140.00 target price on the stock. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $175.81.

Corning Stock Down 1.8%

Shares of NYSE:GLW opened at $128.87 on Wednesday. The company has a quick ratio of 1.24, a current ratio of 1.72 and a debt-to-equity ratio of 0.51. The firm has a market cap of $111.01 billion, a P/E ratio of 52.17, a P/E/G ratio of 1.62 and a beta of 1.13. Corning has a 12 month low of $77.39 and a 12 month high of $271.78. The company’s 50-day moving average price is $148.45 and its two-hundred day moving average price is $154.79.

Corning (NYSE:GLW) last posted its quarterly earnings results on Tuesday, October 27th. The electronics maker reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.88 by $0.03. The business had revenue of $5.08 billion during the quarter, compared to the consensus estimate of $5.03 billion. Corning had a net margin of 12.13% and a return on equity of 20.83%. Corning’s revenue for the quarter was up 18.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.67 earnings per share. As a group, research analysts forecast that Corning will post 3.36 EPS for the current fiscal year.

Insider Buying and Selling at Corning

In other Corning news, EVP Lewis Steverson sold 13,100 shares of the firm’s stock in a transaction that occurred on Friday, August 28th. The shares were sold at an average price of $151.29, for a total value of $1,981,899.00. Following the sale, the executive vice president owned 15,052 shares in the company, valued at $2,277,217.08. This trade represents a 46.53% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders own 0.25% of the company’s stock.

Institutional Trading of Corning

Several institutional investors have recently added to or reduced their stakes in the stock. Western Pacific Wealth Management LP bought a new position in shares of Corning during the 3rd quarter worth about $25,000. Kings Path Partners LLC acquired a new stake in shares of Corning in the 3rd quarter valued at about $25,000. Atwood & Palmer Inc. bought a new stake in Corning in the 2nd quarter valued at about $26,000. Rogco LP bought a new stake in Corning in the 2nd quarter valued at about $27,000. Finally, Toth Financial Advisory Corp increased its position in Corning by 130.7% in the 3rd quarter. Toth Financial Advisory Corp now owns 173 shares of the electronics maker’s stock valued at $27,000 after buying an additional 98 shares in the last quarter. 69.80% of the stock is currently owned by institutional investors.

Key Headlines Impacting Corning

Here are the key news stories impacting Corning this week:

• Positive Sentiment: Corning reported better-than-expected quarterly results, with revenue rising 18.9% year over year to approximately $5.1 billion and EPS of $0.91 versus the $0.88 consensus. Gross margin expanded to 40.5% and operating margin reached 22.7%, highlighting substantial profit leverage. Corning Stock Price Up Following Better-Than-Expected Earnings
• Positive Sentiment: Demand for optical communications products is accelerating as artificial-intelligence data centers require greater fiber and connectivity capacity. Optical Communications revenue reportedly increased 44%, while customer-backed capacity expansion and the shift from copper to optical connections could support further growth. Corning Q3 Sales Jump as AI Optical Demand Accelerates
• Positive Sentiment: Truist Financial reaffirmed its Buy rating, maintaining a $175 price target despite lowering it from $182. The firm’s stance indicates it still sees meaningful upside if Corning converts AI-driven demand into sustained sales and margin growth. Truist Reaffirms Buy Rating
• Neutral Sentiment: Morgan Stanley completed its review of Corning’s production expansion but said any valuation improvement depends on stronger profit margins. The firm retains an Equal Weight rating, reflecting a balance between growth potential and execution risk. Morgan Stanley Report on Corning Production Expansion
• Negative Sentiment: Morgan Stanley lowered its price target from $165 to $155, citing limited near-term valuation upside. A separate fair-value estimate also declined from $189.94 to $182.76, underscoring investor concerns that the stock’s high earnings multiple already prices in much of the AI opportunity. Morgan Stanley Lowers Corning Price Target
• Negative Sentiment: Corning has experienced significant recent weakness after retreating from its highs, and ETFs were reported as net sellers. The pullback may improve entry points, but valuation, execution and margin sustainability remain important risks for investors. ETFs Are Net Sellers of Corning

Corning Company Profile

Corning Incorporated (NYSE: GLW) is a technology company that develops and manufactures specialty glass, ceramics and optical-fiber products. Its materials and engineering expertise support communications networks, consumer electronics, automotive systems, life sciences and other industrial applications.

The company’s products include optical fiber, cable and connectivity solutions used in telecommunications infrastructure; glass substrates for televisions, computer monitors and other displays; durable cover glass for mobile devices; emissions-control components for vehicles; laboratory glassware and consumables; and specialized glass and ceramic materials for scientific, industrial and semiconductor applications.

Founded in 1851 and headquartered in Corning, New York, the company serves customers through operations and facilities across North America, Europe, Asia and other international markets.