Coherent (COHR) Upgraded at BidaskClub

BidaskClub upgraded shares of Coherent (NASDAQ:COHR) from a hold rating to a buy rating in a research report released on Thursday morning.

Several other analysts also recently issued reports on COHR. Barclays set a $332.00 price objective on Coherent and gave the stock a buy rating in a report on Wednesday, January 10th. Zacks Investment Research upgraded Coherent from a hold rating to a buy rating and set a $337.00 price objective on the stock in a report on Wednesday, January 10th. Benchmark boosted their price objective on Coherent from $290.00 to $310.00 and gave the stock a buy rating in a report on Wednesday, November 8th. Stifel Nicolaus boosted their price objective on Coherent from $290.00 to $330.00 and gave the stock a buy rating in a report on Wednesday, November 8th. Finally, Summit Redstone restated a buy rating and set a $320.00 price objective on shares of Coherent in a report on Saturday, September 23rd. One research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Coherent presently has a consensus rating of Buy and a consensus price target of $319.22.

Coherent (COHR) traded down $1.66 during midday trading on Thursday, reaching $318.35. The company’s stock had a trading volume of 245,337 shares, compared to its average volume of 357,379. The company has a current ratio of 3.13, a quick ratio of 2.14 and a debt-to-equity ratio of 0.51. The firm has a market cap of $7,900.00, a P/E ratio of 37.85 and a beta of 0.82. Coherent has a 12-month low of $145.18 and a 12-month high of $329.00.

Coherent (NASDAQ:COHR) last posted its quarterly earnings data on Tuesday, November 7th. The scientific and technical instruments company reported $3.72 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $3.48 by $0.24. The firm had revenue of $490.00 million for the quarter, compared to the consensus estimate of $475.24 million. Coherent had a return on equity of 28.53% and a net margin of 12.02%. The business’s revenue for the quarter was up 97.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.65 EPS. research analysts forecast that Coherent will post 15.56 earnings per share for the current fiscal year.

In other news, EVP Paul F. Sechrist sold 1,002 shares of the company’s stock in a transaction dated Friday, December 1st. The stock was sold at an average price of $288.88, for a total value of $289,457.76. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Bret Dimarco sold 5,819 shares of the company’s stock in a transaction dated Thursday, November 9th. The shares were sold at an average price of $294.75, for a total value of $1,715,150.25. The disclosure for this sale can be found here. Insiders sold a total of 19,788 shares of company stock worth $5,901,628 in the last quarter. 1.40% of the stock is owned by corporate insiders.

Several institutional investors and hedge funds have recently modified their holdings of the company. State of Alaska Department of Revenue acquired a new position in Coherent in the fourth quarter worth approximately $507,000. Oakbrook Investments LLC increased its holdings in Coherent by 7.0% in the fourth quarter. Oakbrook Investments LLC now owns 2,435 shares of the scientific and technical instruments company’s stock worth $687,000 after buying an additional 160 shares during the last quarter. Westpac Banking Corp increased its holdings in Coherent by 104.1% in the fourth quarter. Westpac Banking Corp now owns 27,649 shares of the scientific and technical instruments company’s stock worth $7,803,000 after buying an additional 14,100 shares during the last quarter. Schwab Charles Investment Management Inc. increased its holdings in Coherent by 4.9% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 132,607 shares of the scientific and technical instruments company’s stock worth $37,425,000 after buying an additional 6,244 shares during the last quarter. Finally, Bank of Montreal Can increased its holdings in Coherent by 91.9% in the fourth quarter. Bank of Montreal Can now owns 3,351 shares of the scientific and technical instruments company’s stock worth $945,000 after buying an additional 1,605 shares during the last quarter. Institutional investors own 96.90% of the company’s stock.

COPYRIGHT VIOLATION WARNING: “Coherent (COHR) Upgraded at BidaskClub” was first posted by Markets Daily and is the property of of Markets Daily. If you are accessing this piece of content on another domain, it was stolen and reposted in violation of United States and international trademark & copyright law. The legal version of this piece of content can be read at https://www.themarketsdaily.com/2018/01/20/coherent-cohr-upgraded-at-bidaskclub.html.

Coherent Company Profile

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).

Analyst Recommendations for Coherent (NASDAQ:COHR)

Receive News & Ratings for Coherent Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Coherent and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply