Benchmark reissued their buy rating on shares of Coherent (NASDAQ:COHR) in a report published on Wednesday morning, AnalystRatings.com reports. They currently have a $165.00 target price on the scientific and technical instruments company’s stock.
Several other equities research analysts also recently weighed in on COHR. ValuEngine raised shares of Coherent from a hold rating to a buy rating in a research note on Wednesday. Zacks Investment Research upgraded shares of Coherent from a strong sell rating to a hold rating in a report on Tuesday, July 2nd. Susquehanna Bancshares cut shares of Coherent from a positive rating to a neutral rating and set a $140.00 price objective for the company. in a report on Monday, April 29th. BidaskClub upgraded shares of Coherent from a hold rating to a buy rating in a report on Friday, June 28th. Finally, Stifel Nicolaus lifted their price objective on shares of Coherent from $165.00 to $174.00 and gave the company a buy rating in a report on Wednesday, May 1st. Seven research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and an average target price of $159.17.
COHR traded down $5.22 during midday trading on Wednesday, hitting $133.12. The company had a trading volume of 445,100 shares, compared to its average volume of 319,454. Coherent has a 52 week low of $90.10 and a 52 week high of $192.37. The company has a quick ratio of 2.03, a current ratio of 3.97 and a debt-to-equity ratio of 0.31. The stock has a market cap of $3.38 billion, a P/E ratio of 10.21 and a beta of 1.82. The stock’s 50 day simple moving average is $134.44.
Coherent (NASDAQ:COHR) last posted its quarterly earnings results on Tuesday, July 30th. The scientific and technical instruments company reported $1.33 earnings per share for the quarter, beating the consensus estimate of $1.05 by $0.28. Coherent had a net margin of 8.12% and a return on equity of 13.38%. The firm had revenue of $339.17 million during the quarter, compared to the consensus estimate of $348.61 million. During the same period in the previous year, the firm posted $3.51 earnings per share. The business’s revenue was down 29.7% compared to the same quarter last year. Sell-side analysts forecast that Coherent will post 6.1 EPS for the current fiscal year.
Hedge funds and other institutional investors have recently modified their holdings of the company. Steward Partners Investment Advisory LLC acquired a new position in shares of Coherent during the second quarter valued at about $28,000. Synovus Financial Corp grew its holdings in shares of Coherent by 400.0% during the first quarter. Synovus Financial Corp now owns 320 shares of the scientific and technical instruments company’s stock valued at $45,000 after buying an additional 256 shares during the last quarter. Cerebellum GP LLC purchased a new position in Coherent during the second quarter worth about $48,000. First Mercantile Trust Co. purchased a new position in Coherent during the first quarter worth about $64,000. Finally, Manchester Capital Management LLC purchased a new position in Coherent during the first quarter worth about $79,000. Hedge funds and other institutional investors own 96.43% of the company’s stock.
Coherent Company Profile
Coherent, Inc provides lasers, laser-based technologies, and laser-based system solutions for a range of scientific, commercial, and industrial applications. It operates through two segments, OEM Laser Sources and Industrial Lasers & Systems. The company designs, manufactures, markets, and services lasers, laser tools, precision optics, and related accessories; and laser measurement and control products.
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