ValuEngine lowered shares of Coherent (NASDAQ:COHR) from a hold rating to a sell rating in a research report sent to investors on Thursday morning.

Other equities analysts also recently issued research reports about the stock. Needham & Company LLC reaffirmed a buy rating and set a $294.00 target price (down previously from $330.00) on shares of Coherent in a research note on Thursday, February 8th. Zacks Investment Research raised shares of Coherent from a sell rating to a hold rating in a research note on Monday, April 16th. Northcoast Research reaffirmed a buy rating and set a $314.00 target price on shares of Coherent in a research note on Monday, February 12th. BidaskClub downgraded shares of Coherent from a hold rating to a sell rating in a research note on Thursday, March 29th. Finally, Stifel Nicolaus decreased their target price on shares of Coherent from $330.00 to $310.00 and set a buy rating for the company in a research note on Thursday, February 8th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and nine have issued a buy rating to the company. Coherent presently has a consensus rating of Buy and an average target price of $301.11.

Shares of NASDAQ COHR opened at $173.66 on Thursday. Coherent has a fifty-two week low of $171.50 and a fifty-two week high of $329.00. The company has a market cap of $4,310.59, a price-to-earnings ratio of 13.17 and a beta of 0.96. The company has a quick ratio of 2.08, a current ratio of 3.18 and a debt-to-equity ratio of 0.42.

Coherent (NASDAQ:COHR) last announced its earnings results on Wednesday, February 7th. The scientific and technical instruments company reported $3.54 earnings per share for the quarter, beating the Zacks’ consensus estimate of $3.52 by $0.02. Coherent had a net margin of 11.79% and a return on equity of 29.82%. The business had revenue of $477.60 million during the quarter, compared to the consensus estimate of $474.21 million. During the same quarter last year, the firm earned $2.57 earnings per share. The business’s revenue for the quarter was up 38.0% on a year-over-year basis. sell-side analysts anticipate that Coherent will post 14.84 EPS for the current year.

Coherent announced that its board has approved a share buyback plan on Wednesday, February 7th that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the scientific and technical instruments company to reacquire shares of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s leadership believes its stock is undervalued.

In other news, Director Stephen A. Skaggs sold 500 shares of the stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $212.27, for a total transaction of $106,135.00. Following the sale, the director now owns 10,500 shares in the company, valued at $2,228,835. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 1.40% of the company’s stock.

Several large investors have recently bought and sold shares of COHR. First Republic Investment Management Inc. purchased a new stake in shares of Coherent during the fourth quarter valued at approximately $208,000. Commerce Bank purchased a new stake in shares of Coherent during the fourth quarter valued at approximately $226,000. CIBC Asset Management Inc purchased a new stake in shares of Coherent during the fourth quarter valued at approximately $236,000. Moors & Cabot Inc. purchased a new stake in shares of Coherent during the fourth quarter valued at approximately $236,000. Finally, Cambridge Investment Research Advisors Inc. purchased a new stake in shares of Coherent during the fourth quarter valued at approximately $238,000. Hedge funds and other institutional investors own 98.39% of the company’s stock.

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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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Coherent (NASDAQ:COHR)

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