Coherent (COHR) Lowered to Strong Sell at BidaskClub

BidaskClub downgraded shares of Coherent (NASDAQ:COHR) from a sell rating to a strong sell rating in a research report sent to investors on Tuesday.

Several other research firms have also issued reports on COHR. Zacks Investment Research lowered shares of Coherent from a strong-buy rating to a hold rating in a research report on Tuesday, January 9th. Barclays set a $332.00 price target on shares of Coherent and gave the company a buy rating in a research report on Wednesday, January 10th. Stifel Nicolaus cut their price target on shares of Coherent from $330.00 to $310.00 and set a buy rating for the company in a research report on Thursday, February 8th. Needham & Company LLC restated a buy rating and set a $294.00 price target (down from $330.00) on shares of Coherent in a research report on Thursday, February 8th. Finally, Northcoast Research restated a buy rating and set a $314.00 price target on shares of Coherent in a research report on Monday, February 12th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and nine have assigned a buy rating to the company’s stock. The company currently has a consensus rating of Buy and an average target price of $301.11.

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NASDAQ COHR opened at $167.45 on Tuesday. The company has a quick ratio of 2.08, a current ratio of 3.18 and a debt-to-equity ratio of 0.42. Coherent has a 12-month low of $164.70 and a 12-month high of $329.00. The stock has a market cap of $4,190.65, a price-to-earnings ratio of 12.80 and a beta of 0.96.



Coherent (NASDAQ:COHR) last posted its quarterly earnings results on Wednesday, February 7th. The scientific and technical instruments company reported $3.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.52 by $0.02. Coherent had a net margin of 11.79% and a return on equity of 29.82%. The business had revenue of $477.60 million during the quarter, compared to analyst estimates of $474.21 million. During the same period in the prior year, the business posted $2.57 earnings per share. The company’s revenue was up 38.0% on a year-over-year basis. sell-side analysts predict that Coherent will post 14.84 earnings per share for the current fiscal year.

Coherent announced that its board has authorized a share buyback program on Wednesday, February 7th that permits the company to buyback $100.00 million in shares. This buyback authorization permits the scientific and technical instruments company to purchase shares of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its stock is undervalued.

In other news, Director Stephen A. Skaggs sold 500 shares of the stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $212.27, for a total transaction of $106,135.00. Following the completion of the sale, the director now directly owns 10,500 shares in the company, valued at $2,228,835. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.97% of the company’s stock.

Several institutional investors have recently bought and sold shares of COHR. Carillon Tower Advisers Inc. purchased a new stake in shares of Coherent during the fourth quarter worth about $213,124,000. TimesSquare Capital Management LLC boosted its holdings in shares of Coherent by 421.4% during the fourth quarter. TimesSquare Capital Management LLC now owns 372,300 shares of the scientific and technical instruments company’s stock worth $105,071,000 after purchasing an additional 300,900 shares during the period. Renaissance Technologies LLC boosted its holdings in shares of Coherent by 146.8% during the fourth quarter. Renaissance Technologies LLC now owns 265,800 shares of the scientific and technical instruments company’s stock worth $75,014,000 after purchasing an additional 158,100 shares during the period. Deutsche Bank AG boosted its holdings in shares of Coherent by 118.3% during the fourth quarter. Deutsche Bank AG now owns 250,643 shares of the scientific and technical instruments company’s stock worth $70,733,000 after purchasing an additional 135,813 shares during the period. Finally, Arrowstreet Capital Limited Partnership boosted its holdings in shares of Coherent by 110.2% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 191,500 shares of the scientific and technical instruments company’s stock worth $54,045,000 after purchasing an additional 100,400 shares during the period. Institutional investors own 98.44% of the company’s stock.

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Coherent Company Profile

Coherent, Inc provides lasers and laser-based technology in a range of scientific, commercial, and industrial applications worldwide. It operates through two segments, Specialty Lasers and Systems, and Commercial Lasers and Components. The company designs, manufactures, services, and markets lasers, laser tools, precision optics, and related accessories.

Analyst Recommendations for Coherent (NASDAQ:COHR)

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