Coherent (NASDAQ:COHR) received a $332.00 target price from equities researchers at Barclays in a research note issued on Wednesday, January 10th. The brokerage currently has a “buy” rating on the scientific and technical instruments company’s stock. Barclays’ target price would suggest a potential upside of 31.32% from the company’s previous close.
A number of other research analysts have also recently weighed in on COHR. Northcoast Research reaffirmed a “buy” rating and set a $314.00 price objective (up from $311.00) on shares of Coherent in a research report on Tuesday, September 12th. Stifel Nicolaus reaffirmed a “buy” rating and set a $290.00 price objective on shares of Coherent in a research report on Wednesday, September 13th. Summit Redstone reissued a “buy” rating and issued a $320.00 price target on shares of Coherent in a report on Saturday, September 23rd. Zacks Investment Research raised Coherent from a “hold” rating to a “strong-buy” rating and set a $270.00 price target on the stock in a report on Tuesday, October 3rd. Finally, Benchmark reaffirmed a “buy” rating and set a $290.00 price objective on shares of Coherent in a report on Thursday, October 12th. Two investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Coherent presently has a consensus rating of “Buy” and an average target price of $319.22.
Coherent (NASDAQ:COHR) traded down $2.11 during midday trading on Wednesday, reaching $252.82. The company had a trading volume of 649,703 shares, compared to its average volume of 438,649. Coherent has a 52 week low of $156.83 and a 52 week high of $329.00. The company has a market cap of $6,270.00, a P/E ratio of 30.06 and a beta of 0.65. The company has a debt-to-equity ratio of 0.51, a current ratio of 3.13 and a quick ratio of 2.14.
In other news, EVP Paul F. Sechrist sold 1,372 shares of the firm’s stock in a transaction that occurred on Thursday, January 4th. The stock was sold at an average price of $300.00, for a total value of $411,600.00. Following the transaction, the executive vice president now owns 2,497 shares in the company, valued at $749,100. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Paul F. Sechrist sold 1,002 shares of the firm’s stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $288.88, for a total value of $289,457.76. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 19,788 shares of company stock worth $5,901,628. 1.40% of the stock is owned by corporate insiders.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Epoch Investment Partners Inc. grew its stake in shares of Coherent by 3.6% in the third quarter. Epoch Investment Partners Inc. now owns 962,918 shares of the scientific and technical instruments company’s stock valued at $226,449,000 after buying an additional 33,295 shares in the last quarter. Earnest Partners LLC grew its stake in shares of Coherent by 1.0% in the third quarter. Earnest Partners LLC now owns 636,910 shares of the scientific and technical instruments company’s stock valued at $149,782,000 after buying an additional 6,066 shares in the last quarter. FMR LLC grew its stake in shares of Coherent by 23.2% in the second quarter. FMR LLC now owns 494,053 shares of the scientific and technical instruments company’s stock valued at $111,157,000 after buying an additional 93,014 shares in the last quarter. NWQ Investment Management Company LLC grew its stake in shares of Coherent by 10.9% in the third quarter. NWQ Investment Management Company LLC now owns 446,953 shares of the scientific and technical instruments company’s stock valued at $105,110,000 after buying an additional 43,822 shares in the last quarter. Finally, Koch Industries Inc. acquired a new stake in shares of Coherent in the second quarter valued at $354,000. 96.72% of the stock is owned by institutional investors and hedge funds.
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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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