Coherent, Inc. (COHR) Given Consensus Rating of “Hold” by Brokerages
Shares of Coherent, Inc. (NASDAQ:COHR) have been assigned an average recommendation of “Hold” from the nine brokerages that are covering the stock, MarketBeat.com reports. Three equities research analysts have rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $209.50.
Several analysts recently issued reports on the stock. Longbow Research set a $215.00 price target on shares of Coherent and gave the stock a “buy” rating in a research report on Thursday, August 23rd. Northcoast Research reiterated a “buy” rating and set a $217.00 price target on shares of Coherent in a research report on Thursday, August 2nd. Needham & Company LLC reduced their price target on shares of Coherent from $205.00 to $190.00 and set a “buy” rating on the stock in a research report on Wednesday, August 1st. Benchmark reiterated a “buy” rating and set a $216.00 price target (down previously from $242.00) on shares of Coherent in a research report on Wednesday, August 1st. Finally, Stifel Nicolaus reduced their price target on shares of Coherent from $218.00 to $214.00 and set a “buy” rating on the stock in a research report on Friday, July 27th.
Shares of COHR traded down $0.33 during mid-day trading on Wednesday, hitting $142.98. 17,100 shares of the company’s stock were exchanged, compared to its average volume of 535,566. Coherent has a 52 week low of $129.63 and a 52 week high of $329.00. The stock has a market capitalization of $4.18 billion, a PE ratio of 11.37 and a beta of 1.04. The company has a current ratio of 3.28, a quick ratio of 1.87 and a debt-to-equity ratio of 0.34.
In related news, EVP Mark Stewart Sobey sold 13,000 shares of the stock in a transaction that occurred on Tuesday, August 14th. The shares were sold at an average price of $181.86, for a total transaction of $2,364,180.00. Following the sale, the executive vice president now owns 17,887 shares in the company, valued at approximately $3,252,929.82. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.97% of the company’s stock.
Institutional investors have recently modified their holdings of the business. Value Holdings Management CO. LLC boosted its position in Coherent by 13.4% in the second quarter. Value Holdings Management CO. LLC now owns 33,803 shares of the scientific and technical instruments company’s stock valued at $5,288,000 after buying an additional 4,000 shares in the last quarter. Bank of America Corp DE boosted its position in Coherent by 11.0% in the second quarter. Bank of America Corp DE now owns 176,216 shares of the scientific and technical instruments company’s stock valued at $27,564,000 after buying an additional 17,451 shares in the last quarter. Brown Advisory Inc. acquired a new stake in Coherent in the second quarter valued at approximately $867,000. Itau Unibanco Holding S.A. acquired a new stake in Coherent in the second quarter valued at approximately $145,000. Finally, WINTON GROUP Ltd acquired a new stake in Coherent in the second quarter valued at approximately $254,000. Hedge funds and other institutional investors own 98.58% of the company’s stock.
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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