Brokerages Set Coherent, Inc. (COHR) Price Target at $233.13
Shares of Coherent, Inc. (NASDAQ:COHR) have been assigned an average recommendation of “Buy” from the eleven brokerages that are covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and eight have issued a buy recommendation on the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $233.13.
COHR has been the topic of several analyst reports. ValuEngine raised shares of Coherent from a “sell” rating to a “hold” rating in a report on Tuesday, July 31st. Benchmark reissued a “buy” rating and issued a $242.00 price target on shares of Coherent in a report on Tuesday, June 12th. Zacks Investment Research lowered shares of Coherent from a “hold” rating to a “strong sell” rating in a report on Monday, May 14th. Needham & Company LLC lowered their price target on shares of Coherent from $205.00 to $190.00 and set a “buy” rating on the stock in a report on Wednesday, August 1st. Finally, BidaskClub lowered shares of Coherent from a “hold” rating to a “sell” rating in a report on Friday, June 22nd.
In other news, EVP Mark Stewart Sobey sold 13,000 shares of the company’s stock in a transaction dated Tuesday, August 14th. The shares were sold at an average price of $181.86, for a total value of $2,364,180.00. Following the sale, the executive vice president now owns 17,887 shares of the company’s stock, valued at approximately $3,252,929.82. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 1.40% of the stock is currently owned by corporate insiders.
Shares of Coherent stock opened at $188.98 on Tuesday. The firm has a market capitalization of $4.56 billion, a price-to-earnings ratio of 15.03 and a beta of 0.96. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.87 and a current ratio of 3.28. Coherent has a 52-week low of $145.66 and a 52-week high of $329.00.
Coherent (NASDAQ:COHR) last announced its quarterly earnings results on Tuesday, July 31st. The scientific and technical instruments company reported $3.51 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $3.54 by ($0.03). The business had revenue of $482.00 million during the quarter, compared to the consensus estimate of $491.31 million. Coherent had a net margin of 12.84% and a return on equity of 28.01%. The company’s quarterly revenue was up 3.9% compared to the same quarter last year. During the same period last year, the firm earned $3.36 EPS. analysts expect that Coherent will post 13.14 EPS for the current fiscal year.
Coherent, Inc provides lasers and laser-based technology in a range of scientific, commercial, and industrial applications worldwide. It operates through two segments, Specialty Lasers and Systems, and Commercial Lasers and Components. The company designs, manufactures, services, and markets lasers, laser tools, precision optics, and related accessories.
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