Coherent, Inc. (COHR) Earns Overweight Rating from Analysts at Barclays PLC

Equities research analysts at Barclays PLC initiated coverage on shares of Coherent, Inc. (NASDAQ:COHR) in a report issued on Monday, August 7th, MarketBeat.com reports. The firm set an “overweight” rating and a $285.00 price target on the scientific and technical instruments company’s stock. Barclays PLC’s target price would indicate a potential upside of 32.50% from the stock’s current price.

Other equities research analysts have also issued reports about the stock. BidaskClub raised shares of Coherent from a “hold” rating to a “buy” rating in a report on Thursday, July 13th. Stifel Nicolaus reaffirmed a “buy” rating and set a $290.00 price target (up from $270.00) on shares of Coherent in a report on Friday, June 30th. Longbow Research reaffirmed a “buy” rating and set a $325.00 price target on shares of Coherent in a report on Wednesday, June 28th. Needham & Company LLC raised their price target on shares of Coherent from $215.00 to $265.00 and gave the company a “buy” rating in a report on Wednesday, May 10th. Finally, Benchmark Co. reaffirmed a “buy” rating on shares of Coherent in a report on Wednesday, May 10th. One equities research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $268.88.

Coherent (NASDAQ:COHR) traded up 1.15% during trading on Monday, hitting $217.57. 266,449 shares of the company’s stock traded hands. Coherent has a 12-month low of $100.01 and a 12-month high of $278.39. The firm’s 50-day moving average price is $242.48 and its 200 day moving average price is $219.40. The stock has a market cap of $5.36 billion, a P/E ratio of 32.76 and a beta of 0.72.

Coherent (NASDAQ:COHR) last issued its earnings results on Tuesday, August 1st. The scientific and technical instruments company reported $3.36 EPS for the quarter, missing the Zacks’ consensus estimate of $3.45 by $0.09. Coherent had a net margin of 11.08% and a return on equity of 24.98%. The business had revenue of $464.10 million during the quarter, compared to analysts’ expectations of $466.90 million. During the same period in the prior year, the business posted $1.07 EPS. The business’s revenue was up 112.1% on a year-over-year basis. Analysts anticipate that Coherent will post $12.27 earnings per share for the current fiscal year.

In other Coherent news, Director Stephen A. Skaggs sold 500 shares of the firm’s stock in a transaction on Monday, August 14th. The shares were 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 directly owns 11,500 shares of the company’s stock, valued at approximately $2,502,170. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO John Ambroseo sold 24,970 shares of the firm’s stock in a transaction on Monday, May 22nd. The stock was sold at an average price of $248.08, for a total transaction of $6,194,557.60. The disclosure for this sale can be found here. Over the last three months, insiders have sold 30,374 shares of company stock valued at $7,495,118. 1.40% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Hanson McClain Inc. raised its position in shares of Coherent by 54.5% in the first quarter. Hanson McClain Inc. now owns 709 shares of the scientific and technical instruments company’s stock valued at $146,000 after buying an additional 250 shares in the last quarter. Bank of Montreal Can increased its position in Coherent by 11.4% in the first quarter. Bank of Montreal Can now owns 812 shares of the scientific and technical instruments company’s stock worth $167,000 after buying an additional 83 shares during the last quarter. Asset Management One Co. Ltd. acquired a new position in Coherent during the first quarter worth about $170,000. Smithfield Trust Co. acquired a new position in Coherent during the second quarter worth about $199,000. Finally, Daiwa Securities Group Inc. acquired a new position in Coherent during the second quarter worth about $202,000. 92.40% of the stock is owned by institutional investors.

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).