Longbow Research lowered shares of Coherent (NASDAQ:COHR) from a buy rating to a neutral rating in a research report released on Tuesday, Marketbeat.com reports.
Other analysts have also recently issued research reports about the stock. Benchmark reissued a buy rating and issued a $216.00 price objective on shares of Coherent in a research note on Thursday, September 13th. Northcoast Research reissued a buy rating and issued a $217.00 price objective on shares of Coherent in a research note on Thursday, August 2nd. Needham & Company LLC reduced their price objective on shares of Coherent from $205.00 to $190.00 and set a buy rating on the stock in a research note on Wednesday, August 1st. Stifel Nicolaus reduced their price objective on shares of Coherent from $218.00 to $214.00 and set a buy rating on the stock in a research note on Friday, July 27th. Finally, BidaskClub raised shares of Coherent from a sell rating to a hold rating in a research report on Wednesday, July 11th. Three investment analysts have rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company. Coherent currently has an average rating of Hold and an average price target of $229.57.
Shares of Coherent stock opened at $132.57 on Tuesday. The company has a current ratio of 3.28, a quick ratio of 1.87 and a debt-to-equity ratio of 0.34. Coherent has a twelve month low of $130.57 and a twelve month high of $329.00. The firm has a market capitalization of $4.18 billion, a P/E ratio of 10.42 and a beta of 1.04.
Coherent (NASDAQ:COHR) last issued its quarterly earnings data on Tuesday, July 31st. The scientific and technical instruments company reported $3.51 earnings per share for the quarter, missing the consensus estimate of $3.54 by ($0.03). Coherent had a return on equity of 28.01% and a net margin of 12.84%. The business had revenue of $482.00 million during the quarter, compared to the consensus estimate of $491.31 million. During the same period in the prior year, the firm earned $3.36 EPS. The business’s revenue for the quarter was up 3.9% compared to the same quarter last year. As a group, sell-side analysts predict that Coherent will post 13.14 earnings per share for the current fiscal year.
In other Coherent news, EVP Mark Stewart Sobey sold 13,000 shares of the company’s stock in a transaction on Tuesday, August 14th. The shares were sold at an average price of $181.86, for a total transaction of $2,364,180.00. Following the sale, the executive vice president now owns 17,887 shares of the company’s stock, valued at $3,252,929.82. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.97% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the business. Value Holdings Management CO. LLC boosted its position in Coherent by 13.4% during the second quarter. Value Holdings Management CO. LLC now owns 33,803 shares of the scientific and technical instruments company’s stock valued at $5,288,000 after acquiring an additional 4,000 shares during the last quarter. Brown Advisory Inc. acquired a new position in shares of Coherent during the second quarter valued at about $867,000. Itau Unibanco Holding S.A. acquired a new position in shares of Coherent during the second quarter valued at about $145,000. Trellus Management Company LLC acquired a new position in shares of Coherent during the second quarter valued at about $673,000. Finally, WINTON GROUP Ltd acquired a new position in shares of Coherent during the second quarter valued at about $254,000. 98.58% of the stock is currently 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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