Coherent, Inc. (NASDAQ:COHR) Receives $167.50 Average PT from Analysts

Shares of Coherent, Inc. (NASDAQ:COHR) have received a consensus recommendation of “Buy” from the thirteen ratings firms that are currently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have assigned a buy rating to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $167.50.

Several brokerages recently commented on COHR. BidaskClub cut Coherent from a “hold” rating to a “sell” rating in a research report on Tuesday, July 7th. Needham & Company LLC began coverage on Coherent in a report on Thursday, May 28th. They issued a “hold” rating on the stock. Susquehanna Bancshares reiterated a “buy” rating and set a $170.00 target price on shares of Coherent in a research report on Friday, May 29th. Piper Sandler cut their target price on Coherent from $195.00 to $185.00 and set an “overweight” rating for the company in a research report on Thursday, May 28th. Finally, Zacks Investment Research upgraded Coherent from a “strong sell” rating to a “hold” rating in a research report on Tuesday, July 28th.

In other news, Director Stephen A. Skaggs sold 500 shares of the business’s stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $137.53, for a total value of $68,765.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.62% of the company’s stock.

Large investors have recently made changes to their positions in the stock. Northwestern Mutual Wealth Management Co. purchased a new position in Coherent during the 1st quarter valued at about $25,000. Steward Partners Investment Advisory LLC increased its holdings in Coherent by 342.9% during the 1st quarter. Steward Partners Investment Advisory LLC now owns 248 shares of the scientific and technical instruments company’s stock valued at $26,000 after purchasing an additional 192 shares during the period. Stonebridge Capital Advisors LLC purchased a new position in Coherent during the 1st quarter valued at about $41,000. Tower Research Capital LLC TRC purchased a new position in Coherent during the 1st quarter valued at about $59,000. Finally, Fifth Third Bancorp increased its holdings in Coherent by 16.1% during the 1st quarter. Fifth Third Bancorp now owns 626 shares of the scientific and technical instruments company’s stock valued at $67,000 after purchasing an additional 87 shares during the period. Institutional investors own 98.47% of the company’s stock.

Shares of NASDAQ COHR opened at $138.83 on Tuesday. The firm has a market cap of $3.37 billion, a PE ratio of -8.05, a PEG ratio of 5.64 and a beta of 1.77. The company has a current ratio of 4.28, a quick ratio of 2.53 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 company has a fifty day moving average price of $134.11 and a 200 day moving average price of $133.69.

Coherent (NASDAQ:COHR) last announced its earnings results on Wednesday, May 27th. The scientific and technical instruments company reported $0.61 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.52 by $0.09. The firm had revenue of $293.10 million during the quarter, compared to analyst estimates of $305.64 million. Coherent had a negative net margin of 32.25% and a positive return on equity of 4.99%. The company’s revenue for the quarter was down 21.4% compared to the same quarter last year. During the same period in the prior year, the business earned $1.61 EPS. Equities research analysts forecast that Coherent will post 1.37 EPS for the current year.

About Coherent

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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