Corning (NYSE:GLW – Get Rating) had its target price boosted by investment analysts at Credit Suisse Group from $36.00 to $41.00 in a report released on Wednesday, Benzinga reports. The brokerage presently has an “outperform” rating on the electronics maker’s stock. Credit Suisse Group’s price objective would indicate a potential upside of 14.69% from the stock’s previous close.
Several other analysts also recently commented on the company. UBS Group increased their target price on Corning from $37.00 to $40.00 and gave the company a “buy” rating in a research note on Wednesday, January 11th. Deutsche Bank Aktiengesellschaft dropped their price target on Corning from $37.00 to $35.00 in a research note on Wednesday, October 26th. StockNews.com initiated coverage on Corning in a research note on Wednesday, October 12th. They issued a “hold” rating on the stock. Barclays decreased their target price on Corning from $38.00 to $35.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 26th. Finally, Susquehanna decreased their target price on Corning from $40.00 to $39.00 in a report on Wednesday, October 26th. Six equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $39.55.
Corning Stock Down 0.5 %
Shares of NYSE:GLW opened at $35.75 on Wednesday. Corning has a 52-week low of $28.98 and a 52-week high of $43.47. The firm has a market capitalization of $30.24 billion, a P/E ratio of 16.71, a P/E/G ratio of 2.49 and a beta of 1.05. The stock has a 50 day moving average price of $33.69 and a 200-day moving average price of $33.35. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.94 and a current ratio of 1.51.
Institutional Investors Weigh In On Corning
Several large investors have recently made changes to their positions in GLW. Price T Rowe Associates Inc. MD increased its holdings in shares of Corning by 37.4% in the second quarter. Price T Rowe Associates Inc. MD now owns 20,008,558 shares of the electronics maker’s stock worth $630,470,000 after purchasing an additional 5,451,525 shares during the last quarter. BlackRock Inc. grew its position in Corning by 3.3% in the third quarter. BlackRock Inc. now owns 55,945,292 shares of the electronics maker’s stock worth $1,623,533,000 after acquiring an additional 1,796,774 shares in the last quarter. California Public Employees Retirement System grew its position in Corning by 109.6% in the second quarter. California Public Employees Retirement System now owns 3,151,038 shares of the electronics maker’s stock worth $99,289,000 after acquiring an additional 1,647,814 shares in the last quarter. Prudential Financial Inc. grew its position in Corning by 197.7% in the first quarter. Prudential Financial Inc. now owns 2,033,754 shares of the electronics maker’s stock worth $75,066,000 after acquiring an additional 1,350,499 shares in the last quarter. Finally, Vanguard Group Inc. grew its position in Corning by 1.1% in the third quarter. Vanguard Group Inc. now owns 95,986,278 shares of the electronics maker’s stock worth $2,785,521,000 after acquiring an additional 1,002,544 shares in the last quarter. 67.79% of the stock is owned by institutional investors.
Corning Company Profile
Corning, Inc develops and manufactures specialty glass and ceramics. It provides glass for notebook computers, flat panel desktop monitors, display televisions, and other information display applications, carrier network and enterprise network products for the telecommunications industry, ceramic substrates for gasoline and diesel engines in automotive and heavy duty vehicle markets, laboratory products for the scientific community and specialized polymer products for biotechnology applications, advanced optical materials for the semiconductor industry and the scientific community, and other technologies.
- Get a free copy of the StockNews.com research report on Corning (GLW)
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