Coherent, Inc. (NASDAQ:COHR)‘s stock had its “buy” rating reissued by research analysts at Stifel Nicolaus in a note issued to investors on Wednesday. They presently have a $290.00 target price on the scientific and technical instruments company’s stock. Stifel Nicolaus’ target price indicates a potential upside of 13.49% from the company’s previous close.
Other equities analysts have also recently issued research reports about the company. ValuEngine cut Coherent from a “buy” rating to a “hold” rating in a report on Friday, July 14th. Susquehanna Bancshares Inc restated a “positive” rating and issued a $275.00 price objective on shares of Coherent in a report on Tuesday, September 5th. Northcoast Research restated a “buy” rating and issued a $314.00 price objective (up previously from $311.00) on shares of Coherent in a report on Tuesday. Longbow Research restated a “buy” rating and issued a $325.00 price objective on shares of Coherent in a report on Wednesday, June 28th. Finally, BidaskClub cut Coherent from a “buy” rating to a “hold” rating in a report on Wednesday, June 28th. Two investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $291.88.
Shares of Coherent (NASDAQ COHR) opened at 254.50 on Wednesday. Coherent has a 52 week low of $100.01 and a 52 week high of $278.39. The firm has a market cap of $6.27 billion, a PE ratio of 38.32 and a beta of 0.76. The stock’s 50 day moving average is $232.70 and its 200-day moving average is $225.62.
Coherent (NASDAQ:COHR) last released its earnings results on Tuesday, August 1st. The scientific and technical instruments company reported $3.36 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $3.45 by ($0.09). The firm had revenue of $464.10 million for the quarter, compared to the consensus estimate of $466.90 million. Coherent had a return on equity of 24.98% and a net margin of 11.08%. Coherent’s revenue for the quarter was up 112.1% on a year-over-year basis. During the same quarter last year, the company posted $1.07 EPS. On average, equities analysts predict that Coherent will post $12.27 EPS for the current fiscal year.
In related news, Director Stephen A. Skaggs sold 500 shares of Coherent 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 completion of the transaction, 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 available at the SEC website. Company insiders own 1.40% of the company’s stock.
Institutional investors have recently bought and sold shares of the stock. TD Asset Management Inc. acquired a new stake in Coherent during the first quarter worth approximately $567,000. Marshall Wace North America L.P. acquired a new stake in Coherent during the first quarter worth approximately $1,597,000. Cornerstone Capital Management Holdings LLC. acquired a new stake in Coherent during the first quarter worth approximately $1,613,000. SG Americas Securities LLC lifted its position in Coherent by 117.8% during the second quarter. SG Americas Securities LLC now owns 6,783 shares of the scientific and technical instruments company’s stock worth $1,526,000 after acquiring an additional 3,668 shares during the last quarter. Finally, American Century Companies Inc. acquired a new stake in Coherent during the first quarter worth approximately $4,661,000. Institutional investors and hedge funds own 90.23% of the company’s stock.
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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