In a report released today, Mehdi Hosseini from Susquehanna reiterated a Hold rating on Corning Inc (GLW), with a price target of $26. The company’s shares closed last Monday at $27.88, close to its 52-week low of $26.78.
According to TipRanks.com, Hosseini is a 4-star analyst with an average return of 9.3% and a 52.0% success rate. Hosseini covers the Consumer Goods sector, focusing on stocks such as Advanced Energy Industries, Hewlett Packard Enterprise, and Applied Materials Inc.
Currently, the analyst consensus on Corning Inc is a Hold with an average price target of $31.38, representing a 12.7% upside. In a report released today, J.P. Morgan also maintained a Hold rating on the stock with a $30 price target.
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Corning Inc’s market cap is currently $23.47B and has a P/E ratio of 18.48. The company has a Price to Book ratio of 2.10.
Based on the recent corporate insider activity of 42 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of GLW in relation to earlier this year. Last month, Clark Kinlin, the EVP of GLW sold 9,667 shares for a total of $270,096.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
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. It operates through the following five business segments: Display Technologies, Optical Communications, Environmental Technologies, Specialty Materials and Life Sciences. The Display Technologies segment manufactures glass substrates for high performance displays, including organic light-emitting diode and liquid crystal displays that are used primarily in televisions, notebook computers and flat panel desktop monitors. The Optical Communications segment is classified into two main product groupings: carrier and enterprise network. The carrier network group consists primarily of products and solutions for optical-based communications infrastructure for services such as video, data and voice communications. The enterprise network group consists primarily of optical-based communication networks sold to businesses, governments and individuals for their own use. The Environmental Technologies segment manufactures ceramic substrates and filter products for emissions control in mobile and stationary applications around the world. The Specialty Materials segment manufactures products that provide material formulations for glass, glass ceramics and fluoride crystals to meet demand for unique customer needs. The Life Sciences segment develops, manufactures and supplies scientific laboratory products. The company was founded by Amory Houghton Sr. in 1851 and is headquartered in Corning, NY.
