BidaskClub upgraded shares of Coherent, Inc. (NASDAQ:COHR) from a hold rating to a buy rating in a research report report published on Thursday, July 13th.
Several other equities research analysts have also commented on COHR. Benchmark Co. reaffirmed a buy rating on shares of Coherent in a research report on Wednesday, May 10th. Needham & Company LLC boosted their price objective on Coherent from $215.00 to $265.00 and gave the company a buy rating in a research note on Wednesday, May 10th. Susquehanna Bancshares Inc reiterated a neutral rating and set a $240.00 price objective (up from $225.00) on shares of Coherent in a research note on Wednesday, May 10th. Stifel Nicolaus boosted their price objective on Coherent from $220.00 to $270.00 and gave the company a buy rating in a research note on Wednesday, May 10th. Finally, Longbow Research reiterated a buy rating and set a $325.00 price objective on shares of Coherent in a research note on Monday, June 12th. One equities research analyst has rated the stock with a hold rating and ten have issued a buy rating to the stock. The company presently has a consensus rating of Buy and a consensus price target of $268.88.
Coherent (COHR) opened at 224.27 on Thursday. The company has a market cap of $5.50 billion, a price-to-earnings ratio of 33.77 and a beta of 0.72. The firm’s 50-day moving average is $247.80 and its 200-day moving average is $215.04. Coherent has a 12 month low of $100.01 and a 12 month high of $278.39.
Coherent (NASDAQ:COHR) last released its quarterly earnings results on Tuesday, August 1st. The scientific and technical instruments company reported $3.36 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $3.45 by $0.09. Coherent had a net margin of 11.08% and a return on equity of 24.98%. The business had revenue of $464.10 million for the quarter, compared to analysts’ expectations of $466.90 million. During the same period in the previous year, the company earned $1.07 EPS. Coherent’s revenue for the quarter was up 112.1% compared to the same quarter last year. On average, analysts anticipate that Coherent will post $12.39 EPS for the current fiscal year.
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In other news, Director Garry W. Rogerson sold 4,500 shares of the company’s stock in a transaction that occurred on Tuesday, May 16th. The stock was sold at an average price of $257.03, for a total transaction of $1,156,635.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Stephen A. Skaggs sold 500 shares of the company’s stock in a transaction that occurred on Monday, May 15th. The stock was sold at an average price of $249.48, for a total value of $124,740.00. Following the sale, the director now directly owns 12,000 shares in the company, valued at $2,993,760. The disclosure for this sale can be found here. Insiders have sold a total of 34,874 shares of company stock worth $8,667,703 over the last ninety days. Insiders own 1.40% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in the stock. Hanson McClain Inc. raised its stake in Coherent by 54.5% in the first quarter. Hanson McClain Inc. now owns 709 shares of the scientific and technical instruments company’s stock valued at $146,000 after buying an additional 250 shares during the last quarter. Bank of Montreal Can raised its stake in Coherent by 11.4% in the first quarter. Bank of Montreal Can now owns 812 shares of the scientific and technical instruments company’s stock valued at $167,000 after buying an additional 83 shares during the last quarter. Asset Management One Co. Ltd. bought a new stake in Coherent during the first quarter valued at $170,000. Smithfield Trust Co. bought a new stake in Coherent during the second quarter valued at $199,000. Finally, Daiwa Securities Group Inc. bought a new stake in Coherent during the second quarter valued at $202,000. Institutional investors own 92.94% of the company’s stock.
Coherent Company Profile
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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