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

Other equities analysts also recently issued research reports about the company. Northcoast Research reissued a buy rating and set a $217.00 target price on shares of Coherent in a research report on Thursday, August 2nd. Benchmark reissued a buy rating and set a $216.00 target price (down previously from $242.00) on shares of Coherent in a research report on Wednesday, August 1st. Zacks Investment Research downgraded Coherent from a hold rating to a strong sell rating in a research report on Tuesday, July 31st. Stifel Nicolaus cut their target price on Coherent from $218.00 to $214.00 and set a buy rating on the stock in a research report on Friday, July 27th. Finally, BidaskClub raised Coherent from a sell rating to a hold rating in a research report on Wednesday, July 11th. Three research analysts have rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company. Coherent has a consensus rating of Hold and an average target price of $229.57.

Shares of NASDAQ COHR traded up $0.82 during trading hours on Tuesday, hitting $132.57. 720,871 shares of the company traded hands, compared to its average volume of 535,189. The company has a market cap of $4.18 billion, a P/E ratio of 10.55 and a beta of 1.04. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.87 and a current ratio of 3.28. Coherent has a 12 month low of $130.57 and a 12 month high of $329.00.

Coherent (NASDAQ:COHR) last released its earnings results on Tuesday, July 31st. The scientific and technical instruments company reported $3.51 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $3.54 by ($0.03). The company had revenue of $482.00 million for the quarter, compared to the consensus estimate of $491.31 million. Coherent had a net margin of 12.84% and a return on equity of 28.01%. The business’s revenue for the quarter was up 3.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.36 EPS. As a group, equities analysts predict that Coherent will post 13.14 EPS for the current 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 stock was sold at an average price of $181.86, for a total value of $2,364,180.00. Following the transaction, the executive vice president now owns 17,887 shares of the company’s stock, valued at approximately $3,252,929.82. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.97% of the company’s stock.

A number of institutional investors have recently made changes to their positions in the business. Oregon Public Employees Retirement Fund lifted its holdings in shares of Coherent by 3.0% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 9,718 shares of the scientific and technical instruments company’s stock worth $1,520,000 after buying an additional 279 shares during the period. Amalgamated Bank lifted its holdings in shares of Coherent by 6.6% in the 1st quarter. Amalgamated Bank now owns 5,482 shares of the scientific and technical instruments company’s stock worth $1,027,000 after buying an additional 341 shares during the period. Victory Capital Management Inc. lifted its holdings in shares of Coherent by 6.1% in the 2nd quarter. Victory Capital Management Inc. now owns 6,316 shares of the scientific and technical instruments company’s stock worth $988,000 after buying an additional 365 shares during the period. Arizona State Retirement System lifted its holdings in shares of Coherent by 2.6% in the 2nd quarter. Arizona State Retirement System now owns 17,269 shares of the scientific and technical instruments company’s stock worth $2,701,000 after buying an additional 441 shares during the period. Finally, Cambridge Investment Research Advisors Inc. lifted its holdings in shares of Coherent by 57.6% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 1,332 shares of the scientific and technical instruments company’s stock worth $250,000 after buying an additional 487 shares during the period. 98.58% of the stock is currently owned by institutional investors.

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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Analyst Recommendations for Coherent (NASDAQ:COHR)

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