Coherent (COHR) Upgraded to “Buy” at BidaskClub

BidaskClub upgraded shares of Coherent (NASDAQ:COHR) from a hold rating to a buy rating in a research note released on Thursday morning.

Several other equities research analysts also recently weighed in on the stock. Barclays set a $332.00 price objective on shares of Coherent and gave the stock a buy rating in a report on Wednesday, January 10th. Zacks Investment Research raised shares of Coherent from a hold rating to a buy rating and set a $337.00 price objective for the company in a report on Wednesday, January 10th. Stifel Nicolaus upped their price objective on shares of Coherent from $290.00 to $330.00 and gave the stock a buy rating in a report on Wednesday, November 8th. Benchmark upped their price objective on shares of Coherent from $290.00 to $310.00 and gave the stock a buy rating in a report on Wednesday, November 8th. Finally, Needham & Company LLC upped their price objective on shares of Coherent from $270.00 to $330.00 and gave the stock a buy rating in a report on Wednesday, November 8th. One analyst has rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. The company currently has a consensus rating of Buy and an average price target of $319.22.

Shares of Coherent (NASDAQ:COHR) traded down $1.66 on Thursday, hitting $318.35. 245,337 shares of the stock traded hands, compared to its average volume of 357,379. Coherent has a 52 week low of $145.18 and a 52 week high of $329.00. The firm has a market capitalization of $7,900.00, a P/E ratio of 37.85 and a beta of 0.82. The company has a current ratio of 3.13, a quick ratio of 2.14 and a debt-to-equity ratio of 0.51.

Coherent (NASDAQ:COHR) last announced its quarterly earnings results on Tuesday, November 7th. The scientific and technical instruments company reported $3.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.48 by $0.24. Coherent had a net margin of 12.02% and a return on equity of 28.53%. The company had revenue of $490.00 million during the quarter, compared to the consensus estimate of $475.24 million. During the same quarter in the previous year, the company posted $1.65 earnings per share. The company’s revenue for the quarter was up 97.2% compared to the same quarter last year. equities analysts expect that Coherent will post 15.56 EPS for the current fiscal year.

In other Coherent news, Director Sandeep Vij sold 4,400 shares of the company’s stock in a transaction dated Friday, November 10th. The shares were sold at an average price of $292.79, for a total value of $1,288,276.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Bret Dimarco sold 5,819 shares of the company’s stock in a transaction dated Thursday, November 9th. The shares were sold at an average price of $294.75, for a total transaction of $1,715,150.25. The disclosure for this sale can be found here. Insiders sold 19,788 shares of company stock valued at $5,901,628 in the last ninety days. Corporate insiders own 1.40% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the business. Coldstream Capital Management Inc. lifted its holdings in Coherent by 3.1% in the 2nd quarter. Coldstream Capital Management Inc. now owns 1,010 shares of the scientific and technical instruments company’s stock valued at $227,000 after acquiring an additional 30 shares during the last quarter. DekaBank Deutsche Girozentrale lifted its holdings in Coherent by 97.0% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 1,064 shares of the scientific and technical instruments company’s stock valued at $238,000 after acquiring an additional 524 shares during the last quarter. Flinton Capital Management LLC lifted its holdings in Coherent by 73.8% in the 2nd quarter. Flinton Capital Management LLC now owns 1,168 shares of the scientific and technical instruments company’s stock valued at $263,000 after acquiring an additional 496 shares during the last quarter. Balyasny Asset Management LLC acquired a new stake in Coherent in the 2nd quarter valued at about $271,000. Finally, Petrus Trust Company LTA acquired a new stake in Coherent in the 2nd quarter valued at about $292,000. 96.90% of the stock is owned by institutional investors.

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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).

Analyst Recommendations for Coherent (NASDAQ:COHR)

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