Corning (NYSE:GLW) Lowered to "Hold" Rating by Wall Street Zen

Key Points

• Corning's stock rating was downgraded from "strong-buy" to "hold" by Wall Street Zen amidst mixed analyst opinions and varying price targets from other research firms.
• Several analysts have issued price targets for Corning, with UBS Group raising their target from $65.00 to $84.00, indicating a varying consensus around the stock's future performance.
• Insider trading activity revealed significant stock sales, with a COO selling over $2 million worth of shares, indicating a decrease in their ownership percentage.

Corning (NYSE:GLW - Get Free Report) was downgraded by equities research analysts at Wall Street Zen from a "strong-buy" rating to a "hold" rating in a research note issued on Saturday.

Other analysts have also issued research reports about the company. Susquehanna reissued a "positive" rating and issued a $75.00 target price (up previously from $60.00) on shares of Corning in a research report on Wednesday, July 30th. Mizuho raised their price target on shares of Corning from $63.00 to $74.00 and gave the company an "outperform" rating in a research report on Friday, August 8th. Argus reissued a "buy" rating and issued a $68.00 price target on shares of Corning in a research report on Wednesday, July 30th. Barclays raised their price target on shares of Corning from $52.00 to $65.00 and gave the company an "equal weight" rating in a research report on Wednesday, July 30th. Finally, Citigroup raised their price target on shares of Corning from $52.00 to $60.00 and gave the company a "buy" rating in a research report on Friday, July 11th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $66.75.

Corning Trading Up 1.2%

NYSE GLW traded up $0.91 on Friday, reaching $77.95. The stock had a trading volume of 8,824,621 shares, compared to its average volume of 7,921,708. The firm has a market capitalization of $66.77 billion, a price-to-earnings ratio of 82.93, a P/E/G ratio of 1.73 and a beta of 1.09. The company has a quick ratio of 0.93, a current ratio of 1.50 and a debt-to-equity ratio of 0.58. Corning has a 12-month low of $37.31 and a 12-month high of $78.32. The stock has a fifty day moving average price of $63.26 and a two-hundred day moving average price of $52.71.

Corning (NYSE:GLW - Get Free Report) last announced its earnings results on Tuesday, July 29th. The electronics maker reported $0.60 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.57 by $0.03. The company had revenue of $3.86 billion for the quarter, compared to analyst estimates of $3.84 billion. Corning had a return on equity of 17.27% and a net margin of 5.77%.During the same quarter in the previous year, the company earned $0.47 earnings per share. Corning has set its Q3 2025 guidance at 0.630-0.670 EPS. As a group, sell-side analysts forecast that Corning will post 2.33 EPS for the current fiscal year.

Insider Buying and Selling

In other Corning news, CEO Wendell P. Weeks sold 82,103 shares of the stock in a transaction that occurred on Thursday, August 7th. The shares were sold at an average price of $65.19, for a total value of $5,352,294.57. Following the sale, the chief executive officer directly owned 809,295 shares of the company's stock, valued at approximately $52,757,941.05. This represents a 9.21% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Edward A. Schlesinger sold 14,082 shares of the business's stock in a transaction that occurred on Wednesday, July 30th. The stock was sold at an average price of $62.28, for a total transaction of $877,026.96. Following the sale, the chief financial officer owned 78,316 shares of the company's stock, valued at $4,877,520.48. This represents a 15.24% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 163,950 shares of company stock worth $10,449,192. Corporate insiders own 0.32% of the company's stock.

Institutional Trading of Corning

Institutional investors have recently modified their holdings of the stock. REAP Financial Group LLC lifted its position in shares of Corning by 191.5% during the 2nd quarter. REAP Financial Group LLC now owns 516 shares of the electronics maker's stock worth $27,000 after buying an additional 339 shares during the last quarter. Total Investment Management Inc. purchased a new stake in shares of Corning during the 2nd quarter worth approximately $28,000. Vermillion Wealth Management Inc. purchased a new stake in shares of Corning during the 4th quarter worth approximately $29,000. Putney Financial Group LLC purchased a new stake in shares of Corning during the 4th quarter worth approximately $30,000. Finally, Investment Management Corp VA ADV lifted its stake in Corning by 165.9% in the first quarter. Investment Management Corp VA ADV now owns 742 shares of the electronics maker's stock valued at $34,000 after buying an additional 463 shares during the last quarter. Hedge funds and other institutional investors own 69.80% of the company's stock.

Corning Company Profile

Corning Incorporated engages in the display technologies, optical communications, environmental technologies, specialty materials, and life sciences businesses in the United States and internationally. The company's Display Technologies segment offers glass substrates for flat panel displays, including liquid crystal displays and organic light-emitting diodes that are used in televisions, notebook computers, desktop monitors, tablets, and handheld devices.