Coherent, Inc. (NASDAQ:COHR) has been assigned an average rating of “Buy” from the twelve brokerages that are presently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have assigned a buy rating to the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $268.38.
A number of brokerages recently issued reports on COHR. Benchmark reissued a “buy” rating and set a $242.00 price target on shares of Coherent in a research note on Tuesday, June 12th. Needham & Company LLC decreased their price target on Coherent from $250.00 to $205.00 and set a “buy” rating for the company in a research note on Tuesday, June 12th. Stifel Nicolaus began coverage on Coherent in a research note on Thursday, May 10th. They set a “buy” rating and a $248.00 price target for the company. Zacks Investment Research lowered Coherent from a “hold” rating to a “strong sell” rating in a research note on Monday, May 14th. Finally, BidaskClub raised Coherent from a “strong sell” rating to a “sell” rating in a research note on Thursday, May 3rd.
Shares of COHR stock traded down $2.37 on Thursday, reaching $156.39. 21,201 shares of the company’s stock were exchanged, compared to its average volume of 563,960. Coherent has a 52 week low of $152.34 and a 52 week high of $329.00. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.88 and a current ratio of 3.10. The firm has a market capitalization of $3.93 billion, a P/E ratio of 12.53 and a beta of 0.97.
Coherent (NASDAQ:COHR) last issued its quarterly earnings results on Tuesday, May 1st. The scientific and technical instruments company reported $3.37 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $3.49 by ($0.12). Coherent had a return on equity of 29.28% and a net margin of 12.65%. The business had revenue of $481.10 million for the quarter, compared to the consensus estimate of $481.82 million. During the same period in the prior year, the business posted $2.91 earnings per share. Coherent’s revenue was up 13.8% on a year-over-year basis. sell-side analysts forecast that Coherent will post 13.27 EPS for the current year.
A number of hedge funds and other institutional investors have recently modified their holdings of COHR. Advisors Preferred LLC bought a new stake in Coherent during the 1st quarter valued at $113,000. Silvant Capital Management LLC bought a new stake in Coherent during the 1st quarter valued at $174,000. Point72 Asset Management L.P. bought a new stake in Coherent during the 1st quarter valued at $206,000. First Republic Investment Management Inc. bought a new stake in Coherent during the 4th quarter valued at $208,000. Finally, Commerce Bank bought a new stake in Coherent during the 4th quarter valued at $226,000. 98.39% of the stock is owned by institutional investors and hedge funds.
Coherent Company Profile
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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