Vertical Research upgraded shares of Coherent (NASDAQ:COHR) from a sell rating to a neutral rating in a research report sent to investors on Monday, Stock Target Advisor reports.
Several other research analysts also recently weighed in on COHR. Stifel Nicolaus cut their price target on Coherent from $178.00 to $170.00 and set a buy rating for the company in a report on Thursday, May 28th. Needham & Company LLC reissued a hold rating on shares of Coherent in a research note on Wednesday, August 5th. Longbow Research raised Coherent from a neutral rating to a buy rating and set a $165.00 price target on the stock in a research note on Monday, July 27th. Susquehanna Bancshares reissued a buy rating and set a $170.00 price target on shares of Coherent in a research note on Friday, May 29th. Finally, Vertical Group raised Coherent from a sell rating to a neutral rating in a research note on Monday. Two analysts have rated the stock with a sell rating, five have issued a hold rating and seven have issued a buy rating to the company. The stock currently has a consensus rating of Hold and an average price target of $166.50.
Shares of COHR opened at $108.27 on Monday. The company has a current ratio of 4.40, a quick ratio of 2.69 and a debt-to-equity ratio of 0.44. The stock has a market cap of $2.63 billion, a P/E ratio of -6.19, a PEG ratio of 4.78 and a beta of 1.66. The company has a 50-day moving average of $119.67 and a two-hundred day moving average of $124.94. Coherent has a 12-month low of $78.21 and a 12-month high of $178.08.
Coherent (NASDAQ:COHR) last announced its earnings results on Tuesday, August 4th. The scientific and technical instruments company reported $0.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.21 by $0.31. The company had revenue of $298.30 million during the quarter, compared to analysts’ expectations of $287.43 million. Coherent had a negative net margin of 33.76% and a positive return on equity of 3.25%. The firm’s quarterly revenue was down 12.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.33 earnings per share. As a group, analysts forecast that Coherent will post 1.27 EPS for the current fiscal year.
Large investors have recently added to or reduced their stakes in the business. Victory Capital Management Inc. boosted its position in shares of Coherent by 16.8% in the 1st quarter. Victory Capital Management Inc. now owns 1,420,512 shares of the scientific and technical instruments company’s stock valued at $151,157,000 after purchasing an additional 203,978 shares during the period. Fifth Third Bancorp boosted its position in Coherent by 16.1% during the 1st quarter. Fifth Third Bancorp now owns 626 shares of the scientific and technical instruments company’s stock worth $67,000 after acquiring an additional 87 shares during the period. New York State Common Retirement Fund boosted its position in Coherent by 25.0% during the 1st quarter. New York State Common Retirement Fund now owns 220,174 shares of the scientific and technical instruments company’s stock worth $23,429,000 after acquiring an additional 44,067 shares during the period. Rhumbline Advisers boosted its position in Coherent by 8.2% during the 1st quarter. Rhumbline Advisers now owns 67,830 shares of the scientific and technical instruments company’s stock worth $7,218,000 after acquiring an additional 5,137 shares during the period. Finally, Bank of New York Mellon Corp boosted its position in Coherent by 2.3% during the 1st quarter. Bank of New York Mellon Corp now owns 485,743 shares of the scientific and technical instruments company’s stock worth $51,687,000 after acquiring an additional 10,927 shares during the period. 96.04% of the stock is currently owned by institutional investors.
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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