Coherent, Inc. (COHR) Rating Reiterated by Northcoast Research
Coherent, Inc. (NASDAQ:COHR)‘s stock had its “buy” rating reaffirmed by analysts at Northcoast Research in a research note issued on Tuesday. They currently have a $314.00 price objective on the scientific and technical instruments company’s stock, up from their previous price objective of $311.00. Northcoast Research’s price target would indicate a potential upside of 24.02% from the company’s previous close. Northcoast Research also issued estimates for Coherent’s Q4 2017 earnings at $3.42 EPS, Q1 2018 earnings at $3.27 EPS, Q2 2018 earnings at $3.42 EPS, Q3 2018 earnings at $4.15 EPS, Q4 2018 earnings at $4.46 EPS and FY2018 earnings at $15.30 EPS.
A number of other brokerages have also commented on COHR. ValuEngine lowered Coherent from a “buy” rating to a “hold” rating in a report on Friday, July 14th. Needham & Company LLC restated a “buy” rating and issued a $270.00 price target (up from $265.00) on shares of Coherent in a report on Wednesday, August 2nd. Benchmark Co. restated a “buy” rating and issued a $290.00 price target (down from $295.00) on shares of Coherent in a report on Wednesday, August 2nd. BidaskClub upgraded Coherent from a “hold” rating to a “buy” rating in a report on Thursday, July 13th. Finally, Zacks Investment Research upgraded Coherent from a “hold” rating to a “strong-buy” rating and set a $286.00 price target on the stock in a report on Monday, May 15th. Two research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Coherent has a consensus rating of “Buy” and a consensus price target of $291.88.
Coherent (NASDAQ:COHR) opened at 253.19 on Tuesday. The stock’s 50 day moving average price is $232.11 and its 200-day moving average price is $226.11. The firm has a market cap of $6.24 billion, a price-to-earnings ratio of 38.12 and a beta of 0.76. Coherent has a one year low of $100.01 and a one year high of $278.39.
Coherent (NASDAQ:COHR) last issued its quarterly earnings results on Tuesday, August 1st. The scientific and technical instruments company reported $3.36 EPS for the quarter, missing analysts’ consensus estimates 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 business’s revenue for the quarter was up 112.1% on a year-over-year basis. During the same quarter last year, the firm earned $1.07 earnings per share. Analysts forecast that Coherent will post $12.27 earnings per share for the current year.
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In related news, Director Stephen A. Skaggs sold 500 shares of the company’s stock in a transaction dated Monday, August 14th. The stock was sold at an average price of $217.58, for a total transaction of $108,790.00. Following the sale, the director now owns 11,500 shares in the company, valued at $2,502,170. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO John Ambroseo sold 25,000 shares of the company’s stock in a transaction dated Tuesday, September 12th. The stock was sold at an average price of $250.00, for a total value of $6,250,000.00. The disclosure for this sale can be found here. Corporate insiders own 1.40% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Hanson McClain Inc. raised its holdings in Coherent by 54.5% during the first quarter. Hanson McClain Inc. now owns 709 shares of the scientific and technical instruments company’s stock worth $146,000 after acquiring an additional 250 shares in the last quarter. Bank of Montreal Can raised its holdings in Coherent by 11.4% during the first quarter. Bank of Montreal Can now owns 812 shares of the scientific and technical instruments company’s stock worth $167,000 after acquiring an additional 83 shares in the last quarter. Asset Management One Co. Ltd. bought a new stake in Coherent during the first quarter worth about $170,000. Smithfield Trust Co. bought a new stake in Coherent during the second quarter worth about $199,000. Finally, Coldstream Capital Management Inc. bought a new stake in Coherent during the first quarter worth about $202,000. Institutional investors and hedge funds own 90.23% 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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