Corning (NYSE:GLW – Get Rating) had its target price boosted by analysts at UBS Group from $37.00 to $40.00 in a research report issued on Wednesday, Benzinga reports. The brokerage presently has a “buy” rating on the electronics maker’s stock. UBS Group’s price objective would suggest a potential upside of 9.47% from the company’s previous close.
A number of other research firms have also recently weighed in on GLW. StockNews.com began coverage on shares of Corning in a research report on Wednesday, October 12th. They set a “hold” rating for the company. JPMorgan Chase & Co. lowered their price objective on shares of Corning from $44.00 to $40.00 and set an “overweight” rating for the company in a research report on Tuesday, December 20th. Morgan Stanley decreased their price target on shares of Corning from $36.00 to $35.00 and set an “equal weight” rating for the company in a research report on Tuesday, December 13th. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Corning from $37.00 to $35.00 in a research report on Wednesday, October 26th. Finally, Susquehanna Bancshares reduced their price objective on shares of Corning from $40.00 to $39.00 in a report on Wednesday, October 26th. Six analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, Corning presently has a consensus rating of “Moderate Buy” and a consensus price target of $39.09.
Corning Stock Up 0.4 %
GLW opened at $36.54 on Wednesday. Corning has a twelve month low of $28.98 and a twelve month high of $43.47. The company has a quick ratio of 0.94, a current ratio of 1.51 and a debt-to-equity ratio of 0.57. The company has a 50-day moving average price of $33.39 and a 200 day moving average price of $33.22. The company has a market cap of $30.91 billion, a PE ratio of 17.07, a price-to-earnings-growth ratio of 2.45 and a beta of 1.05.
Institutional Inflows and Outflows
A number of institutional investors have recently bought and sold shares of GLW. Standard Family Office LLC acquired a new position in Corning in the third quarter valued at $29,000. CI Investments Inc. increased its stake in Corning by 981.9% in the third quarter. CI Investments Inc. now owns 1,017 shares of the electronics maker’s stock valued at $30,000 after purchasing an additional 923 shares during the period. Chilton Capital Management LLC purchased a new stake in shares of Corning in the second quarter valued at about $32,000. Core Alternative Capital boosted its holdings in shares of Corning by 488.3% in the third quarter. Core Alternative Capital now owns 1,206 shares of the electronics maker’s stock valued at $35,000 after acquiring an additional 1,001 shares in the last quarter. Finally, Kathleen S. Wright Associates Inc. purchased a new stake in shares of Corning in the third quarter valued at about $35,000. 67.79% of the stock is currently owned by institutional investors and hedge funds.
Corning Company Profile
Corning Incorporated engages in display technologies, optical communications, environmental technologies, specialty materials, and life sciences businesses worldwide. The company's Display Technologies segment offers glass substrates for liquid crystal displays and organic light-emitting diodes used in televisions, notebook computers, desktop monitors, tablets, and handheld devices.
- Get a free copy of the StockNews.com research report on Corning (GLW)
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