Coherent, Inc. (COHR) Rating Reiterated by Northcoast Research
Northcoast Research restated their buy rating on shares of Coherent, Inc. (NASDAQ:COHR) in a research report released on Tuesday morning. They currently have a $314.00 target price on the scientific and technical instruments company’s stock, up from their prior target price of $311.00. Northcoast Research also issued estimates for Coherent’s Q4 2017 earnings at $3.42 EPS, Q1 2018 earnings at $3.27 EPS, Q2 2018 earnings at $3.42 EPS, Q3 2018 earnings at $4.15 EPS, Q4 2018 earnings at $4.46 EPS and FY2018 earnings at $15.30 EPS.
Several other equities analysts also recently weighed in on the company. Susquehanna Bancshares Inc restated a positive rating and set a $275.00 price target on shares of Coherent in a report on Tuesday, September 5th. ValuEngine downgraded Coherent from a buy rating to a hold rating in a report on Friday, September 1st. Benchmark Co. restated a buy rating and set a $290.00 price target (down from $295.00) on shares of Coherent in a report on Tuesday, August 8th. Zacks Investment Research downgraded Coherent from a buy rating to a hold rating in a report on Monday, August 7th. Finally, Barclays PLC assumed coverage on Coherent in a report on Monday, August 7th. They set an overweight rating and a $285.00 price target for the company. Two research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Coherent presently has an average rating of Buy and a consensus price target of $291.88.
Coherent (NASDAQ COHR) traded up 1.60% during trading on Tuesday, reaching $253.77. 452,014 shares of the company’s stock were exchanged. Coherent has a 12 month low of $100.01 and a 12 month high of $278.39. The stock has a market cap of $6.25 billion, a PE ratio of 38.21 and a beta of 0.76. The firm has a 50 day moving average of $230.41 and a 200-day moving average of $226.95.
Coherent (NASDAQ:COHR) last issued its quarterly earnings results on Tuesday, August 1st. The scientific and technical instruments company reported $3.36 earnings per share for the quarter, missing the 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 company had revenue of $464.10 million for the quarter, compared to the consensus estimate of $466.90 million. During the same quarter in the previous year, the business earned $1.07 earnings per share. Coherent’s revenue was up 112.1% compared to the same quarter last year. On average, equities research analysts anticipate that Coherent will post $12.27 earnings per share for the current fiscal year.
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In related news, CEO John Ambroseo sold 25,000 shares of Coherent stock in a transaction dated Tuesday, September 12th. The stock was sold at an average price of $250.00, for a total value of $6,250,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Stephen A. Skaggs sold 500 shares of Coherent stock in a transaction dated Monday, August 14th. The stock was sold at an average price of $217.58, for a total value of $108,790.00. Following the completion of the sale, the director now owns 11,500 shares of the company’s stock, valued at $2,502,170. The disclosure for this sale can be found here. 1.40% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in COHR. Bank of Montreal Can increased its holdings in Coherent by 11.4% in the 1st quarter. Bank of Montreal Can now owns 812 shares of the scientific and technical instruments company’s stock worth $167,000 after buying an additional 83 shares in the last quarter. ProShare Advisors LLC increased its holdings in Coherent by 8.7% in the 1st quarter. ProShare Advisors LLC now owns 4,819 shares of the scientific and technical instruments company’s stock worth $991,000 after buying an additional 384 shares in the last quarter. Russell Investments Group Ltd. increased its holdings in Coherent by 11.2% in the 1st quarter. Russell Investments Group Ltd. now owns 66,542 shares of the scientific and technical instruments company’s stock worth $13,682,000 after buying an additional 6,712 shares in the last quarter. Oregon Public Employees Retirement Fund bought a new stake in Coherent in the 1st quarter worth about $843,000. Finally, State Treasurer State of Michigan bought a new stake in Coherent in the 1st quarter worth about $2,056,000. Institutional investors own 90.23% of the company’s stock.
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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