Zacks Investment Research upgraded shares of Coherent, Inc. (NASDAQ:COHR) from a hold rating to a strong-buy rating in a research note published on Tuesday morning. The firm currently has $270.00 target price on the scientific and technical instruments company’s stock.

According to Zacks, “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). SLS develops and manufactures configurable products serving the microelectronics, scientific research and government programs, and original equipment manufacturer (OEM) components and instrumentation markets. The Commercial Lasers and Components segment focuses on higher volume products that are offered in set configurations. The product architectures are designed for exchange at the point of use such that substantially all product service and repairs are based upon advanced replacement and depot (that is factory) repair. CLC’s primary markets include materials processing, OEM components, and instrumentation and microelectronics. “

A number of other analysts have also commented on the stock. Susquehanna Bancshares Inc reissued a neutral rating and issued a $255.00 price objective (up previously from $240.00) on shares of Coherent in a research report on Friday, June 30th. ValuEngine lowered shares of Coherent from a buy rating to a hold rating in a research report on Friday, September 1st. Benchmark Co. reissued a buy rating and issued a $295.00 price objective (up previously from $275.00) on shares of Coherent in a research report on Thursday, July 20th. Needham & Company LLC reissued a buy rating and issued a $270.00 price objective (up previously from $265.00) on shares of Coherent in a research report on Wednesday, August 2nd. Finally, Stifel Nicolaus reissued a buy rating and issued a $290.00 price objective (up previously from $270.00) on shares of Coherent in a research report on Friday, June 30th. One research analyst has rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of Buy and an average price target of $293.22.

Coherent (COHR) traded up 2.20% on Tuesday, reaching $246.95. 178,840 shares of the company’s stock traded hands. The firm has a market cap of $6.08 billion, a price-to-earnings ratio of 37.18 and a beta of 0.78. Coherent has a 52-week low of $100.01 and a 52-week high of $281.00. The stock’s 50 day moving average is $238.17 and its 200 day moving average is $233.08.

Coherent (NASDAQ:COHR) last announced its quarterly earnings data on Tuesday, August 1st. The scientific and technical instruments company reported $3.36 EPS for the quarter, missing the Zacks’ consensus estimate of $3.45 by ($0.09). The business had revenue of $464.10 million during 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%. The business’s revenue for the quarter was up 112.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.07 EPS. On average, equities research analysts predict that Coherent will post $12.27 EPS for the current fiscal year.

COPYRIGHT VIOLATION WARNING: This story was published by The Cerbat Gem and is the property of of The Cerbat Gem. If you are accessing this story on another website, it was copied illegally and republished in violation of US & international copyright law. The original version of this story can be read at https://www.thecerbatgem.com/2017/10/06/coherent-inc-cohr-raised-to-strong-buy-at-zacks-investment-research.html.

In other Coherent news, Director Stephen A. Skaggs sold 500 shares of the company’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 transaction, the director now directly owns 11,500 shares in the company, valued at $2,502,170. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO John Ambroseo sold 25,000 shares of the company’s stock in a transaction on Tuesday, September 12th. The shares were sold at an average price of $250.00, for a total transaction of $6,250,000.00. The disclosure for this sale can be found here. 1.40% of the stock is owned by insiders.

Several large investors have recently added to or reduced their stakes in COHR. Bank of Montreal Can increased its holdings in shares of Coherent by 11.4% in the first quarter. Bank of Montreal Can now owns 812 shares of the scientific and technical instruments company’s stock valued at $167,000 after purchasing an additional 83 shares during the last quarter. Asset Management One Co. Ltd. acquired a new position in shares of Coherent in the first quarter valued at $170,000. Smithfield Trust Co. acquired a new position in shares of Coherent in the second quarter valued at $199,000. Daiwa Securities Group Inc. acquired a new position in shares of Coherent in the second quarter valued at $202,000. Finally, Symmetry Peak Management LLC acquired a new position in shares of Coherent in the first quarter valued at $206,000. Hedge funds and other institutional investors own 90.21% of the company’s stock.

About Coherent

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).

Get a free copy of the Zacks research report on Coherent (COHR)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Coherent (NASDAQ:COHR)

Receive News & Stock Ratings for Coherent Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Coherent Inc. and related stocks with our FREE daily email newsletter.