Coherent Inc. (NASDAQ:COHR) Receives Average Rating of “Buy” from Analysts
Shares of Coherent Inc. (NASDAQ:COHR) have been assigned a consensus recommendation of “Buy” from the six brokerages that are covering the firm. Two investment analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $100.67.
COHR has been the topic of several recent research reports. Benchmark Co. decreased their target price on shares of Coherent from $115.00 to $112.00 and set a “buy” rating on the stock in a research report on Thursday, July 28th. Stifel Nicolaus increased their price objective on shares of Coherent from $115.00 to $120.00 and gave the stock a “buy” rating in a research report on Thursday, July 28th. Finally, Zacks Investment Research lowered shares of Coherent from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, June 28th.
Coherent (NASDAQ:COHR) traded down 0.99% during trading on Tuesday, hitting $108.64. 40,709 shares of the stock traded hands. The firm has a market cap of $2.64 billion, a PE ratio of 31.61 and a beta of 0.82. Coherent has a 12 month low of $52.17 and a 12 month high of $112.40. The firm has a 50-day moving average price of $107.78 and a 200 day moving average price of $97.46.
Coherent (NASDAQ:COHR) last announced its earnings results on Wednesday, July 27th. The company reported $1.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.11 by $0.04. The business had revenue of $218.80 million for the quarter, compared to analysts’ expectations of $211.94 million. Coherent had a net margin of 10.26% and a return on equity of 11.06%. The firm’s quarterly revenue was up 16.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.82 earnings per share. On average, equities analysts forecast that Coherent will post $4.62 EPS for the current fiscal year.
In other Coherent news, CEO John Ambroseo sold 25,979 shares of the company’s stock in a transaction dated Wednesday, September 21st. The shares were sold at an average price of $110.00, for a total value of $2,857,690.00. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director L William Krause sold 22,785 shares of the company’s stock in a transaction dated Thursday, August 4th. The stock was sold at an average price of $106.10, for a total transaction of $2,417,488.50. Following the completion of the transaction, the director now owns 4,811 shares in the company, valued at $510,447.10. The disclosure for this sale can be found here. 1.83% of the stock is currently owned by company insiders.
A number of institutional investors have recently modified their holdings of the company. Macquarie Group Ltd. bought a new position in shares of Coherent during the second quarter worth approximately $1,680,000. KAMES CAPITAL plc increased its position in shares of Coherent by 129.9% in the second quarter. KAMES CAPITAL plc now owns 54,102 shares of the company’s stock worth $4,961,000 after buying an additional 30,567 shares in the last quarter. Mason Street Advisors LLC bought a new position in shares of Coherent during the second quarter worth approximately $436,000. Schwab Charles Investment Management Inc. increased its position in shares of Coherent by 0.5% in the second quarter. Schwab Charles Investment Management Inc. now owns 106,615 shares of the company’s stock worth $9,786,000 after buying an additional 489 shares in the last quarter. Finally, Amalgamated Bank increased its position in shares of Coherent by 9.4% in the second quarter. Amalgamated Bank now owns 2,795 shares of the company’s stock worth $305,000 after buying an additional 240 shares in the last quarter. Institutional investors and hedge funds own 92.86% of the company’s stock.
Coherent Company Profile
Coherent, Inc is a supplier of photonics-based solutions in a range of commercial and scientific research applications. The Company designs, manufactures, services and markets lasers, laser tools and related accessories for a diverse group of customers. It operates through two operating segments: Specialty Lasers and Systems (SLS) and Commercial Lasers and Components (CLC).
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