Coherent (NASDAQ:COHR) was upgraded by investment analysts at BidaskClub from a “buy” rating to a “strong-buy” rating in a research note issued to investors on Wednesday, BidAskClub reports.
A number of other equities analysts also recently commented on the stock. Benchmark reaffirmed a “buy” rating and set a $165.00 price objective on shares of Coherent in a report on Wednesday, July 31st. TheStreet downgraded shares of Coherent from a “b-” rating to a “c+” rating in a report on Wednesday, August 14th. ValuEngine raised shares of Coherent from a “hold” rating to a “buy” rating in a report on Tuesday, August 6th. Stifel Nicolaus increased their target price on shares of Coherent from $165.00 to $174.00 and gave the stock a “buy” rating in a research report on Wednesday, May 1st. Finally, Susquehanna Bancshares cut shares of Coherent from a “positive” rating to a “neutral” rating and set a $140.00 target price for the company. in a research report on Monday, April 29th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. Coherent has a consensus rating of “Hold” and an average target price of $159.17.
NASDAQ:COHR opened at $148.23 on Wednesday. The company has a 50-day moving average of $138.34 and a 200-day moving average of $135.42. The company has a market capitalization of $3.64 billion, a price-to-earnings ratio of 11.37 and a beta of 1.82. Coherent has a 52 week low of $90.10 and a 52 week high of $192.37. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.34 and a current ratio of 3.97.
Coherent (NASDAQ:COHR) last released its quarterly earnings data on Tuesday, July 30th. The scientific and technical instruments company reported $1.33 EPS for the quarter, topping analysts’ consensus estimates of $1.05 by $0.28. The company had revenue of $339.17 million during the quarter, compared to the consensus estimate of $348.61 million. Coherent had a net margin of 8.12% and a return on equity of 13.38%. The firm’s revenue for the quarter was down 29.7% compared to the same quarter last year. During the same period last year, the firm earned $3.51 EPS. Sell-side analysts forecast that Coherent will post 4.92 EPS for the current year.
Several institutional investors have recently made changes to their positions in COHR. Invesco Ltd. increased its position in shares of Coherent by 407.0% during the 2nd quarter. Invesco Ltd. now owns 637,904 shares of the scientific and technical instruments company’s stock worth $86,991,000 after purchasing an additional 512,094 shares in the last quarter. DekaBank Deutsche Girozentrale increased its position in shares of Coherent by 134.3% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 484,319 shares of the scientific and technical instruments company’s stock worth $65,741,000 after purchasing an additional 277,619 shares in the last quarter. Pictet Asset Management Ltd. increased its position in shares of Coherent by 74.6% during the 1st quarter. Pictet Asset Management Ltd. now owns 614,170 shares of the scientific and technical instruments company’s stock worth $87,040,000 after purchasing an additional 262,497 shares in the last quarter. Westfield Capital Management Co. LP acquired a new stake in shares of Coherent during the 2nd quarter worth about $32,405,000. Finally, Victory Capital Management Inc. increased its position in shares of Coherent by 18.2% during the 2nd quarter. Victory Capital Management Inc. now owns 1,194,882 shares of the scientific and technical instruments company’s stock worth $162,946,000 after purchasing an additional 183,600 shares in the last quarter. Institutional investors and hedge funds own 97.19% 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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