Coherent, Inc. (NASDAQ:COHR) Upgraded by ValuEngine to “Buy”
ValuEngine upgraded shares of Coherent, Inc. (NASDAQ:COHR) from a hold rating to a buy rating in a research report released on Wednesday.
A number of other research firms have also recently commented on COHR. Benchmark Co. reissued a buy rating and issued a $290.00 target price (down previously from $295.00) on shares of Coherent in a research note on Wednesday. Needham & Company LLC reissued a buy rating and issued a $270.00 target price (up previously from $265.00) on shares of Coherent in a research note on Wednesday. BidaskClub raised Coherent from a hold rating to a buy rating in a research note on Thursday, July 13th. Zacks Investment Research raised Coherent from a hold rating to a strong-buy rating and set a $286.00 target price on the stock in a research note on Monday, May 15th. Finally, Susquehanna Bancshares Inc reissued a neutral rating and issued a $240.00 target price (up previously from $225.00) on shares of Coherent in a research note on Wednesday, May 10th. Nine equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of Buy and a consensus target price of $266.57.
Coherent (NASDAQ COHR) traded down 2.57% during midday trading on Wednesday, hitting $210.99. The company had a trading volume of 768,448 shares. Coherent has a 52 week low of $100.01 and a 52 week high of $278.39. The firm has a market capitalization of $5.18 billion, a P/E ratio of 31.77 and a beta of 0.72. The firm’s 50 day moving average is $250.07 and its 200-day moving average is $215.08.
Coherent (NASDAQ:COHR) last released its earnings results on Tuesday, August 1st. The scientific and technical instruments company reported $3.36 EPS for the quarter, missing the Zacks’ consensus estimate of $3.45 by $0.09. The firm had revenue of $464.10 million during the quarter, compared to the consensus estimate of $466.90 million. Coherent had a net margin of 11.08% and a return on equity of 24.98%. The firm’s revenue was up 112.1% compared to the same quarter last year. During the same period in the prior year, the company earned $1.07 EPS. On average, equities research analysts expect that Coherent will post $12.44 EPS for the current fiscal year.
In other Coherent news, Director Stephen A. Skaggs sold 500 shares of the company’s stock in a transaction dated Monday, May 15th. The shares were sold at an average price of $249.48, for a total transaction of $124,740.00. Following the completion of the sale, the director now directly owns 12,000 shares in the company, valued at $2,993,760. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Garry W. Rogerson sold 4,500 shares of the company’s stock in a transaction dated Tuesday, May 16th. The shares were sold at an average price of $257.03, for a total transaction of $1,156,635.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 34,874 shares of company stock valued at $8,667,703. Company insiders own 1.40% of the company’s stock.
A number of hedge funds have recently bought and sold shares of the stock. BlackRock Inc. raised its stake in Coherent by 124,951.8% in the first quarter. BlackRock Inc. now owns 2,486,029 shares of the scientific and technical instruments company’s stock valued at $511,226,000 after buying an additional 2,484,041 shares during the last quarter. OppenheimerFunds Inc. raised its stake in Coherent by 1.3% in the first quarter. OppenheimerFunds Inc. now owns 1,063,449 shares of the scientific and technical instruments company’s stock valued at $218,688,000 after buying an additional 14,001 shares during the last quarter. State Street Corp raised its stake in Coherent by 42.3% in the first quarter. State Street Corp now owns 766,435 shares of the scientific and technical instruments company’s stock valued at $157,609,000 after buying an additional 227,897 shares during the last quarter. Epoch Investment Partners Inc. acquired a new stake in Coherent during the first quarter valued at about $114,876,000. Finally, Alliancebernstein L.P. raised its stake in Coherent by 1,420.6% in the first quarter. Alliancebernstein L.P. now owns 556,538 shares of the scientific and technical instruments company’s stock valued at $114,446,000 after buying an additional 519,939 shares during the last quarter. Institutional investors and hedge funds own 92.54% of the company’s stock.
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).
To view ValuEngine’s full report, visit ValuEngine’s official website.
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