Coherent, Inc. (COHR) Receives Average Rating of “Buy” from Brokerages
Shares of Coherent, Inc. (NASDAQ:COHR) have earned a consensus rating of “Buy” from the twelve research firms that are presently covering the stock, Marketbeat reports. One research analyst has rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating on the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $293.22.
Several analysts recently issued reports on the company. Benchmark Co. reissued a “buy” rating and set a $290.00 target price on shares of Coherent in a research note on Thursday. Zacks Investment Research raised Coherent from a “hold” rating to a “strong-buy” rating and set a $270.00 target price on the stock in a research note on Tuesday, October 3rd. Summit Redstone reissued a “buy” rating and set a $320.00 target price on shares of Coherent in a research note on Saturday, September 23rd. Stifel Nicolaus restated a “buy” rating and set a $290.00 price target on shares of Coherent in a report on Wednesday, September 13th. Finally, Northcoast Research restated a “buy” rating and set a $314.00 price target (up previously from $311.00) on shares of Coherent in a report on Tuesday, September 12th.
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In other Coherent news, Director Stephen A. Skaggs sold 500 shares of the firm’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 transaction of $108,790.00. Following the completion of the transaction, 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 accessible through this link. Also, CEO John Ambroseo sold 25,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 12th. The shares were sold at an average price of $250.00, for a total value of $6,250,000.00. The disclosure for this sale can be found here. Company insiders own 1.40% of the company’s stock.
Several institutional investors have recently made changes to their positions in COHR. BlackRock Inc. boosted its holdings in shares of 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 worth $511,226,000 after purchasing an additional 2,484,041 shares during the period. Epoch Investment Partners Inc. purchased a new position in shares of Coherent in the 1st quarter worth approximately $114,876,000. Koch Industries Inc. purchased a new position in shares of Coherent in the 2nd quarter worth approximately $354,000. Harbour Capital Advisors LLC boosted its holdings in shares of Coherent by 28,934.4% in the 2nd quarter. Harbour Capital Advisors LLC now owns 304,861 shares of the scientific and technical instruments company’s stock worth $1,355,000 after purchasing an additional 303,811 shares during the period. Finally, State Street Corp boosted its holdings in shares of 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 worth $157,609,000 after purchasing an additional 227,897 shares during the period. Hedge funds and other institutional investors own 90.21% of the company’s stock.
Shares of Coherent (NASDAQ:COHR) traded up 2.29% on Friday, hitting $253.68. The stock had a trading volume of 360,717 shares. The firm has a 50-day moving average price of $242.35 and a 200-day moving average price of $235.00. The stock has a market capitalization of $6.25 billion, a P/E ratio of 38.19 and a beta of 0.78. Coherent has a 52 week low of $100.01 and a 52 week high of $281.00.
Coherent (NASDAQ:COHR) last issued its earnings results on Tuesday, August 1st. The scientific and technical instruments company reported $3.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.45 by ($0.09). The business had revenue of $464.10 million for the quarter, compared to the consensus estimate of $466.90 million. Coherent had a net margin of 11.08% and a return on equity of 24.98%. The firm’s revenue for the quarter was up 112.1% compared to the same quarter last year. During the same period last year, the business posted $1.07 EPS. Equities analysts expect that Coherent will post $12.28 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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