Coherent (COHR) Upgraded by BidaskClub to Buy

BidaskClub upgraded shares of Coherent (NASDAQ:COHR) from a hold rating to a buy rating in a report released on Thursday, January 18th.

Other equities analysts have also recently issued research reports about the stock. Needham & Company LLC lifted their target price on shares of Coherent from $270.00 to $330.00 and gave the stock a buy rating in a research report on Wednesday, November 8th. Zacks Investment Research upgraded shares of Coherent from a hold rating to a strong-buy rating and set a $270.00 target price for the company in a research report on Tuesday, October 3rd. Summit Redstone restated a buy rating and set a $320.00 target price on shares of Coherent in a research report on Saturday, September 23rd. Benchmark lifted their price target on shares of Coherent from $290.00 to $310.00 and gave the stock a buy rating in a report on Wednesday, November 8th. Finally, Stifel Nicolaus lifted their price target on shares of Coherent from $290.00 to $330.00 and gave the stock a buy rating in a report on Wednesday, November 8th. Two research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Coherent has a consensus rating of Buy and a consensus price target of $312.22.

Shares of Coherent (NASDAQ COHR) traded up $3.72 during midday trading on Thursday, hitting $209.61. 1,159,117 shares of the company traded hands, compared to its average volume of 654,099. The company has a debt-to-equity ratio of 0.42, a current ratio of 3.18 and a quick ratio of 2.14. Coherent has a 12-month low of $179.60 and a 12-month high of $329.00. The firm has a market capitalization of $5,200.00, a PE ratio of 23.71 and a beta of 0.65.

Coherent (NASDAQ:COHR) last announced its quarterly earnings data on Wednesday, February 7th. The scientific and technical instruments company reported $3.54 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $3.52 by $0.02. The firm had revenue of $477.60 million during the quarter, compared to analysts’ expectations of $474.21 million. Coherent had a net margin of 11.79% and a return on equity of 29.82%. The business’s revenue for the quarter was up 38.0% compared to the same quarter last year. During the same quarter last year, the business earned $2.57 earnings per share. research analysts forecast that Coherent will post 15.56 earnings per share for the current fiscal year.

Coherent declared that its Board of Directors has authorized a share repurchase plan on Wednesday, February 7th that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the scientific and technical instruments company to purchase shares of its stock through open market purchases. Shares buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

In other news, VP Bret Dimarco sold 1,195 shares of the business’s stock in a transaction on Tuesday, November 14th. The shares were sold at an average price of $301.89, for a total transaction of $360,758.55. Following the transaction, the vice president now directly owns 2,198 shares of the company’s stock, valued at $663,554.22. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Stephen A. Skaggs sold 500 shares of the business’s stock in a transaction on Monday, November 13th. The stock was sold at an average price of $308.97, for a total transaction of $154,485.00. Following the transaction, the director now directly owns 11,000 shares in the company, valued at $3,398,670. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 9,569 shares of company stock worth $2,898,201. 1.40% of the stock is currently owned by corporate insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. BlackRock Inc. raised its holdings in Coherent by 3.3% in the fourth quarter. BlackRock Inc. now owns 2,061,486 shares of the scientific and technical instruments company’s stock valued at $581,791,000 after acquiring an additional 66,248 shares in the last quarter. Epoch Investment Partners Inc. raised its holdings in Coherent by 3.6% in the third quarter. Epoch Investment Partners Inc. now owns 962,918 shares of the scientific and technical instruments company’s stock valued at $226,449,000 after acquiring an additional 33,295 shares in the last quarter. Earnest Partners LLC raised its holdings in Coherent by 1.0% in the third quarter. Earnest Partners LLC now owns 636,910 shares of the scientific and technical instruments company’s stock valued at $149,782,000 after acquiring an additional 6,066 shares in the last quarter. FMR LLC raised its holdings in Coherent by 23.2% in the second quarter. FMR LLC now owns 494,053 shares of the scientific and technical instruments company’s stock valued at $111,157,000 after acquiring an additional 93,014 shares in the last quarter. Finally, NWQ Investment Management Company LLC raised its holdings in Coherent by 10.9% in the third quarter. NWQ Investment Management Company LLC now owns 446,953 shares of the scientific and technical instruments company’s stock valued at $105,110,000 after acquiring an additional 43,822 shares in the last quarter. 96.63% of the stock is currently owned by hedge funds and other institutional investors.

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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)

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