Bank of America Forecasts Strong Price Appreciation for Corning (NYSE:GLW) Stock

Corning (NYSE:GLW) had its price objective upped by investment analysts at Bank of America from $223.00 to $243.00 in a research note issued on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the electronics maker’s stock. Bank of America‘s target price would suggest a potential upside of 23.90% from the stock’s previous close.

Several other research analysts have also recently weighed in on GLW. Barclays boosted their target price on Corning from $149.00 to $180.00 and gave the stock an “equal weight” rating in a report on Friday, May 8th. Susquehanna raised their price objective on shares of Corning from $125.00 to $180.00 and gave the stock a “positive” rating in a research report on Wednesday, April 29th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Corning in a report on Friday, May 15th. Truist Financial raised their price target on shares of Corning from $149.00 to $205.00 and gave the stock a “hold” rating in a report on Monday, June 22nd. Finally, Mizuho increased their price objective on Corning from $220.00 to $270.00 and gave the stock 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 company’s stock. According to data from MarketBeat, Corning presently has a consensus rating of “Moderate Buy” and an average target price of $190.85.

Corning Trading Down 0.3%

Shares of NYSE:GLW opened at $196.12 on Monday. The business’s 50 day moving average price is $190.59 and its 200-day moving average price is $146.79. Corning has a 1 year low of $51.32 and a 1 year high of $271.78. The firm has a market capitalization of $168.79 billion, a price-to-earnings ratio of 93.84, a price-to-earnings-growth ratio of 2.82 and a beta of 1.09. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.61 and a quick ratio of 1.06.

Corning (NYSE:GLW) last announced its earnings results on Tuesday, April 28th. The electronics maker reported $0.70 EPS for the quarter, beating 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 business had revenue of $4.34 billion during the quarter, compared to analysts’ expectations of $4.30 billion. During the same quarter in the prior year, the firm earned $0.54 earnings per share. The business’s revenue was up 18.1% compared to the same quarter last year. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. On average, equities research analysts forecast that Corning will post 3.19 earnings per share for the current fiscal year.

Insider Activity

In other Corning news, CEO Wendell P. Weeks sold 100,000 shares of the company’s stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of $186.46, for a total transaction of $18,646,000.00. Following the sale, the chief executive officer owned 908,353 shares in the company, valued at $169,371,500.38. This represents a 9.92% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Michaune D. Tillman sold 3,260 shares of Corning stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $207.02, for a total value of $674,885.20. Following the completion of the transaction, the senior vice president owned 10,174 shares of the company’s stock, valued at $2,106,221.48. The trade was a 24.27% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 160,655 shares of company stock worth $30,692,560 over the last three months. Company insiders own 0.25% of the company’s stock.

Institutional Investors Weigh In On Corning

Hedge funds and other institutional investors have recently modified their holdings of the company. Brighton Jones LLC raised its position in shares of Corning by 46.0% during the 4th quarter. Brighton Jones LLC now owns 6,705 shares of the electronics maker’s stock worth $319,000 after acquiring an additional 2,114 shares in the last quarter. Retirement Planning Co of New England Inc. purchased a new stake in shares of Corning during the 1st quarter worth approximately $729,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Corning by 9.3% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 64,704 shares of the electronics maker’s stock valued at $2,962,000 after buying an additional 5,522 shares in the last quarter. Sivia Capital Partners LLC purchased a new position in shares of Corning in the 2nd quarter valued at $401,000. Finally, Schnieders Capital Management LLC. acquired a new stake in Corning during the 2nd quarter worth $266,000. 69.80% of the stock is currently owned by institutional investors and hedge funds.

Corning Company Profile

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.