Coherent, Inc. (COHR) Given Average Recommendation of “Buy” by Brokerages

Coherent, Inc. (NASDAQ:COHR) has been given a consensus rating of “Buy” by the ten research firms that are covering the stock, MarketBeat reports. Two research analysts have rated the stock with a sell recommendation, one has assigned a hold recommendation and seven have assigned a buy recommendation to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $227.14.

Several research analysts recently commented on the company. Benchmark reissued a “buy” rating and issued a $216.00 price objective on shares of Coherent in a research note on Thursday, September 13th. ValuEngine downgraded Coherent from a “hold” rating to a “sell” rating in a research note on Friday, September 7th. Longbow Research set a $215.00 target price on Coherent and gave the stock a “buy” rating in a research note on Thursday, August 23rd. Northcoast Research reaffirmed a “buy” rating and issued a $217.00 target price on shares of Coherent in a research note on Thursday, August 2nd. Finally, Needham & Company LLC cut their target price on Coherent from $205.00 to $190.00 and set a “buy” rating for the company in a research note on Wednesday, August 1st.

In other Coherent news, EVP Mark Stewart Sobey sold 13,000 shares of the firm’s stock in a transaction on Tuesday, August 14th. The stock was sold at an average price of $181.86, for a total value of $2,364,180.00. Following the completion of the sale, the executive vice president now directly owns 17,887 shares of the company’s stock, valued at approximately $3,252,929.82. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.40% of the stock is owned by company insiders.

Several institutional investors and hedge funds have recently modified their holdings of the business. BlackRock Inc. increased its stake in shares of Coherent by 5.5% in the 2nd quarter. BlackRock Inc. now owns 2,276,061 shares of the scientific and technical instruments company’s stock worth $356,022,000 after acquiring an additional 119,540 shares during the last quarter. OppenheimerFunds Inc. increased its stake in shares of Coherent by 57.0% in the 2nd quarter. OppenheimerFunds Inc. now owns 1,103,326 shares of the scientific and technical instruments company’s stock worth $172,582,000 after acquiring an additional 400,681 shares during the last quarter. Carillon Tower Advisers Inc. increased its stake in shares of Coherent by 1.5% in the 2nd quarter. Carillon Tower Advisers Inc. now owns 813,013 shares of the scientific and technical instruments company’s stock worth $127,171,000 after acquiring an additional 11,621 shares during the last quarter. Epoch Investment Partners Inc. increased its stake in shares of Coherent by 6.9% in the 2nd quarter. Epoch Investment Partners Inc. now owns 635,597 shares of the scientific and technical instruments company’s stock worth $99,420,000 after acquiring an additional 41,113 shares during the last quarter. Finally, Artisan Partners Limited Partnership increased its stake in shares of Coherent by 14.1% in the 2nd quarter. Artisan Partners Limited Partnership now owns 488,877 shares of the scientific and technical instruments company’s stock worth $76,470,000 after acquiring an additional 60,528 shares during the last quarter. 98.59% of the stock is owned by institutional investors and hedge funds.

NASDAQ COHR traded up $0.80 during mid-day trading on Friday, hitting $186.60. The stock had a trading volume of 555,884 shares, compared to its average volume of 271,251. Coherent has a twelve month low of $145.66 and a twelve month high of $329.00. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.87 and a current ratio of 3.28. The company has a market cap of $4.51 billion, a P/E ratio of 14.84 and a beta of 1.05.

Coherent (NASDAQ:COHR) last posted its quarterly earnings data on Tuesday, July 31st. The scientific and technical instruments company reported $3.51 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $3.54 by ($0.03). Coherent had a net margin of 12.84% and a return on equity of 28.01%. The firm had revenue of $482.00 million during the quarter, compared to analyst estimates of $491.31 million. During the same period in the prior year, the company posted $3.36 earnings per share. The firm’s revenue for the quarter was up 3.9% compared to the same quarter last year. sell-side analysts predict that Coherent will post 13.14 EPS for the current fiscal year.

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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Analyst Recommendations for Coherent (NASDAQ:COHR)

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