Coherent, Inc. (COHR) Given Average Rating of “Buy” by Brokerages
Shares of Coherent, Inc. (NASDAQ:COHR) have been assigned an average rating of “Buy” from the eleven analysts that are covering the company, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold rating and nine have issued a buy rating on the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $292.71.
Several research firms have recently weighed in on COHR. Benchmark Co. reiterated a “buy” rating and set a $290.00 price objective (down previously from $295.00) on shares of Coherent in a report on Tuesday, August 8th. Barclays PLC began coverage on Coherent in a report on Monday, August 7th. They set an “overweight” rating and a $285.00 price objective on the stock. Susquehanna Bancshares Inc reiterated a “positive” rating and set a $275.00 price objective on shares of Coherent in a report on Tuesday, September 5th. UBS AG upgraded Coherent from a “neutral” rating to a “positive” rating in a report on Thursday, August 3rd. Finally, Zacks Investment Research cut Coherent from a “buy” rating to a “hold” rating in a report on Monday, August 7th.
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In other Coherent news, Director Stephen A. Skaggs sold 500 shares of the business’s stock in a transaction that occurred on Monday, August 14th. The stock was sold at an average price of $217.58, for a total value of $108,790.00. Following the sale, the director now owns 11,500 shares in the company, valued at approximately $2,502,170. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.40% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. lifted its stake in Coherent by 124,951.8% in the 1st quarter. BlackRock Inc. now owns 2,486,029 shares of the scientific and technical instruments company’s stock valued at $511,226,000 after acquiring an additional 2,484,041 shares in the last quarter. OppenheimerFunds Inc. lifted its stake in Coherent by 1.3% in the 1st quarter. OppenheimerFunds Inc. now owns 1,063,449 shares of the scientific and technical instruments company’s stock valued at $218,688,000 after acquiring an additional 14,001 shares in the last quarter. Epoch Investment Partners Inc. lifted its stake in Coherent by 66.4% in the 2nd quarter. Epoch Investment Partners Inc. now owns 929,623 shares of the scientific and technical instruments company’s stock valued at $209,157,000 after acquiring an additional 370,993 shares in the last quarter. State Street Corp lifted its stake in Coherent by 42.3% in the 1st quarter. State Street Corp now owns 766,435 shares of the scientific and technical instruments company’s stock valued at $157,609,000 after acquiring an additional 227,897 shares in the last quarter. Finally, Earnest Partners LLC lifted its stake in Coherent by 1.6% in the 2nd quarter. Earnest Partners LLC now owns 630,844 shares of the scientific and technical instruments company’s stock valued at $141,934,000 after acquiring an additional 9,641 shares in the last quarter. Hedge funds and other institutional investors own 90.23% of the company’s stock.
Coherent (COHR) traded up 3.88% during mid-day trading on Tuesday, hitting $255.53. 735,930 shares of the stock were exchanged. The stock has a market capitalization of $6.29 billion, a P/E ratio of 38.47 and a beta of 0.76. The firm has a 50-day moving average price of $232.70 and a 200-day moving average price of $225.62. Coherent has a 12-month low of $100.01 and a 12-month high of $278.39.
Coherent (NASDAQ:COHR) last released its quarterly earnings data on Tuesday, August 1st. The scientific and technical instruments company reported $3.36 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $3.45 by ($0.09). Coherent had a net margin of 11.08% and a return on equity of 24.98%. The business had revenue of $464.10 million for the quarter, compared to the consensus estimate of $466.90 million. During the same quarter last year, the firm earned $1.07 EPS. The company’s revenue for the quarter was up 112.1% on a year-over-year basis. Equities analysts predict that Coherent will post $12.27 earnings per share for the current fiscal year.
Coherent Company Profile
Coherent, Inc is a photonics manufacturer. The Company is engaged in designing, manufacturing, servicing and marketing of lasers and related accessories for a range of scientific, commercial and industrial applications. It operates through two segments: Specialty Lasers and Systems (SLS) and Commercial Lasers and Components (CLC).
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