Coherent, Inc. (COHR) Earns Buy Rating from Stifel Nicolaus
Stifel Nicolaus reaffirmed their buy rating on shares of Coherent, Inc. (NASDAQ:COHR) in a research report released on Wednesday. The firm currently has a $290.00 target price on the scientific and technical instruments company’s stock.
Several other equities analysts also recently commented on the company. Susquehanna Bancshares Inc restated a neutral rating and set a $255.00 target price (up previously from $240.00) on shares of Coherent in a research report on Friday, June 30th. Benchmark Co. restated a buy rating and set a $295.00 target price (up previously from $275.00) on shares of Coherent in a research report on Thursday, July 20th. Needham & Company LLC restated a buy rating and set a $270.00 target price (up previously from $265.00) on shares of Coherent in a research report on Wednesday, August 2nd. BidaskClub downgraded Coherent from a strong-buy rating to a buy rating in a research report on Wednesday, June 14th. Finally, ValuEngine downgraded Coherent from a buy rating to a hold rating in a research report on Friday, September 1st. Two research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The stock has an average rating of Buy and a consensus target price of $291.88.
Shares of Coherent (NASDAQ:COHR) traded up 1.60% on Wednesday, reaching $253.77. The company had a trading volume of 452,014 shares. The company’s 50-day moving average is $230.41 and its 200 day moving average is $226.95. Coherent has a 12 month low of $100.01 and a 12 month high of $278.39. The firm has a market capitalization of $6.25 billion, a PE ratio of 38.21 and a beta of 0.76.
Coherent (NASDAQ:COHR) last posted its earnings results on Tuesday, August 1st. The scientific and technical instruments company reported $3.36 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $3.45 by ($0.09). The company had revenue of $464.10 million for the quarter, compared to the consensus estimate of $466.90 million. Coherent had a return on equity of 24.98% and a net margin of 11.08%. Coherent’s quarterly revenue was up 112.1% compared to the same quarter last year. During the same quarter last year, the business earned $1.07 EPS. Equities analysts forecast that Coherent will post $12.27 earnings per share for the current year.
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In related news, CEO John Ambroseo sold 25,000 shares of the firm’s stock in a transaction on Tuesday, September 12th. The stock was sold at an average price of $250.00, for a total transaction of $6,250,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Stephen A. Skaggs sold 500 shares of the firm’s stock in a transaction on Monday, August 14th. The shares were sold at an average price of $217.58, for a total value of $108,790.00. Following the sale, the director now directly owns 11,500 shares of the company’s stock, valued at $2,502,170. The disclosure for this sale can be found here. Company insiders own 1.40% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in the stock. Navellier & Associates Inc increased its holdings in Coherent by 12.1% during the 2nd quarter. Navellier & Associates Inc now owns 28,953 shares of the scientific and technical instruments company’s stock valued at $6,514,000 after purchasing an additional 3,116 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in Coherent during the 2nd quarter valued at $420,000. WINTON GROUP Ltd acquired a new stake in Coherent during the 2nd quarter valued at $744,000. Public Employees Retirement System of Ohio increased its holdings in Coherent by 1,266.0% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 11,666 shares of the scientific and technical instruments company’s stock valued at $2,625,000 after purchasing an additional 10,812 shares in the last quarter. Finally, Koch Industries Inc. acquired a new stake in Coherent during the 2nd quarter valued at $354,000. 90.23% of the stock is owned by hedge funds and other institutional investors.
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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