Coherent (NASDAQ:COHR) was upgraded by analysts at Vertical Group from a “sell” rating to a “neutral” rating in a research note issued to investors on Monday, The Fly reports.

A number of other equities analysts have also commented on the company. Longbow Research upgraded Coherent from a “neutral” rating to a “buy” rating and set a $165.00 price objective on the stock in a research note on Monday, July 27th. Benchmark lowered their price objective on Coherent from $168.00 to $160.00 and set a “buy” rating on the stock in a research note on Wednesday, August 5th. Zacks Investment Research lowered Coherent from a “hold” rating to a “strong sell” rating in a research note on Monday, August 10th. Stifel Nicolaus reduced their target price on Coherent from $178.00 to $170.00 and set a “buy” rating on the stock in a report on Thursday, May 28th. Finally, TheStreet downgraded Coherent from a “c” rating to a “d” rating in a report on Wednesday, May 27th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and seven have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $166.50.

Shares of NASDAQ COHR opened at $110.49 on Monday. The firm has a market cap of $2.65 billion, a P/E ratio of -6.32, a price-to-earnings-growth ratio of 4.78 and a beta of 1.66. The company has a current ratio of 4.40, a quick ratio of 2.69 and a debt-to-equity ratio of 0.44. Coherent has a 1-year low of $78.21 and a 1-year high of $178.08. The business’s 50 day moving average is $120.27 and its 200-day moving average is $125.02.

Coherent (NASDAQ:COHR) last announced its earnings results on Tuesday, August 4th. The scientific and technical instruments company reported $0.52 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.21 by $0.31. The company had revenue of $298.30 million for the quarter, compared to analyst estimates of $287.43 million. Coherent had a positive return on equity of 3.25% and a negative net margin of 33.76%. The firm’s quarterly revenue was down 12.0% compared to the same quarter last year. During the same quarter last year, the company earned $1.33 earnings per share. Analysts forecast that Coherent will post 1.27 EPS for the current year.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Principal Financial Group Inc. boosted its holdings in shares of Coherent by 2.6% during the 2nd quarter. Principal Financial Group Inc. now owns 75,773 shares of the scientific and technical instruments company’s stock valued at $9,925,000 after acquiring an additional 1,934 shares in the last quarter. Teachers Retirement System of The State of Kentucky boosted its holdings in shares of Coherent by 4.7% during the 2nd quarter. Teachers Retirement System of The State of Kentucky now owns 43,711 shares of the scientific and technical instruments company’s stock valued at $5,726,000 after acquiring an additional 1,947 shares in the last quarter. Neuberger Berman Group LLC acquired a new stake in shares of Coherent during the 2nd quarter valued at $3,627,000. Handelsbanken Fonder AB acquired a new stake in shares of Coherent during the 2nd quarter valued at $537,000. Finally, Nuveen Asset Management LLC boosted its holdings in shares of Coherent by 1.7% during the 2nd quarter. Nuveen Asset Management LLC now owns 73,547 shares of the scientific and technical instruments company’s stock valued at $9,634,000 after acquiring an additional 1,220 shares in the last quarter. 96.04% of the stock is currently owned by institutional investors.

Coherent Company Profile

Coherent, Inc provides lasers, laser-based technologies, and laser-based system solutions for a range of scientific, commercial, and industrial applications. It operates through two segments, OEM Laser Sources and Industrial Lasers & Systems. The company designs, manufactures, markets, and services lasers, laser tools, precision optics, and related accessories; and laser measurement and control products.

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Analyst Recommendations for Coherent (NASDAQ:COHR)

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