Analysts Set Coherent Inc. (COHR) Price Target at $112.40
Shares of Coherent Inc. (NASDAQ:COHR) have been given an average recommendation of “Buy” by the seven brokerages that are presently covering the stock. One investment analyst has rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $118.17.
A number of equities analysts have commented on the company. Zacks Investment Research upgraded Coherent from a “hold” rating to a “strong-buy” rating and set a $123.00 price objective on the stock in a research note on Monday, August 1st. Benchmark Co. restated a “buy” rating and set a $125.00 price objective (up previously from $112.00) on shares of Coherent in a research note on Thursday. Needham & Company LLC raised their price objective on Coherent from $115.00 to $130.00 and gave the stock a “buy” rating in a research note on Thursday, November 3rd. Stifel Nicolaus raised their target price on Coherent from $115.00 to $120.00 and gave the company a “buy” rating in a report on Thursday, July 28th. Finally, Northcoast Research began coverage on Coherent in a report on Tuesday, October 25th. They issued a “buy” rating and a $130.00 target price on the stock.
In related news, Director Stephen A. Skaggs sold 500 shares of the firm’s stock in a transaction on Monday, August 15th. The stock was sold at an average price of $108.60, for a total transaction of $54,300.00. Following the sale, the director now owns 10,000 shares of the company’s stock, valued at approximately $1,086,000. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO John Ambroseo sold 25,979 shares of the firm’s stock in a transaction on Wednesday, September 21st. The shares were sold at an average price of $110.00, for a total value of $2,857,690.00. The disclosure for this sale can be found here. Corporate insiders own 1.83% of the company’s stock.
Large investors have recently added to or reduced their stakes in the stock. Daiwa Securities Group Inc. purchased a new stake in Coherent during the third quarter valued at $155,000. Advisor Group Inc. increased its stake in Coherent by 67.2% in the third quarter. Advisor Group Inc. now owns 1,670 shares of the company’s stock valued at $185,000 after buying an additional 671 shares during the period. BlackRock Inc. increased its stake in Coherent by 165.2% in the first quarter. BlackRock Inc. now owns 1,745 shares of the company’s stock valued at $161,000 after buying an additional 1,087 shares during the period. Tower Research Capital LLC TRC increased its stake in Coherent by 69.6% in the second quarter. Tower Research Capital LLC TRC now owns 1,767 shares of the company’s stock valued at $162,000 after buying an additional 725 shares during the period. Finally, Marshall Wace LLP purchased a new stake in Coherent during the second quarter valued at $225,000. 94.99% of the stock is currently owned by institutional investors.
Shares of Coherent (NASDAQ:COHR) opened at 125.89 on Tuesday. Coherent has a 12-month low of $56.72 and a 12-month high of $126.22. The company has a market cap of $3.05 billion, a P/E ratio of 35.16 and a beta of 0.69. The company has a 50-day moving average price of $109.53 and a 200-day moving average price of $100.87.
Coherent (NASDAQ:COHR) last posted its quarterly earnings data on Wednesday, November 2nd. The company reported $1.65 EPS for the quarter, topping the Zacks’ consensus estimate of $1.52 by $0.13. Coherent had a return on equity of 11.69% and a net margin of 10.21%. The firm had revenue of $248.50 million for the quarter, compared to analyst estimates of $241.76 million. During the same quarter last year, the company earned $1.25 EPS. The company’s revenue was up 18.5% on a year-over-year basis. On average, analysts predict that Coherent will post $7.27 earnings per share for the current year.
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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