Coherent (NASDAQ:COHR) Upgraded to “Strong-Buy” at ValuEngine

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ValuEngine upgraded shares of Coherent (NASDAQ:COHR) from a buy rating to a strong-buy rating in a research note released on Wednesday, ValuEngine reports.

Other equities research analysts have also issued reports about the company. Benchmark reissued a buy rating and set a $165.00 price target on shares of Coherent in a research note on Wednesday, July 31st. BidaskClub lowered Coherent from a strong-buy rating to a buy rating in a research report on Friday, August 30th. TheStreet lowered Coherent from a b- rating to a c+ rating in a research report on Wednesday, August 14th. Finally, Zacks Investment Research lowered Coherent from a hold rating to a strong sell rating in a research report on Monday, August 5th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Coherent has a consensus rating of Hold and a consensus price target of $148.00.

Shares of COHR stock traded up $11.38 on Wednesday, reaching $157.88. 10,919 shares of the company’s stock were exchanged, compared to its average volume of 276,707. Coherent has a 52 week low of $90.10 and a 52 week high of $191.10. The company has a current ratio of 3.97, a quick ratio of 2.34 and a debt-to-equity ratio of 0.31. The stock has a market capitalization of $3.36 billion, a PE ratio of 12.11 and a beta of 1.78. The company’s fifty day simple moving average is $140.81 and its 200 day simple moving average is $136.56.

Coherent (NASDAQ:COHR) last issued its quarterly earnings results on Tuesday, July 30th. The scientific and technical instruments company reported $1.33 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.05 by $0.28. Coherent had a return on equity of 13.38% and a net margin of 8.12%. The firm had revenue of $339.17 million during the quarter, compared to analyst estimates of $348.61 million. During the same period last year, the company earned $3.51 EPS. Coherent’s quarterly revenue was down 29.7% compared to the same quarter last year. As a group, sell-side analysts predict that Coherent will post 4.92 earnings per share for the current fiscal year.

A number of institutional investors have recently bought and sold shares of the business. BlackRock Inc. grew its stake in Coherent by 1.2% during the 1st quarter. BlackRock Inc. now owns 2,268,315 shares of the scientific and technical instruments company’s stock valued at $321,464,000 after purchasing an additional 26,658 shares during the last quarter. Victory Capital Management Inc. grew its stake in Coherent by 18.2% during the 2nd quarter. Victory Capital Management Inc. now owns 1,194,882 shares of the scientific and technical instruments company’s stock valued at $162,946,000 after purchasing an additional 183,600 shares during the last quarter. Invesco Ltd. grew its stake in Coherent by 407.0% during the 2nd quarter. Invesco Ltd. now owns 637,904 shares of the scientific and technical instruments company’s stock valued at $86,991,000 after purchasing an additional 512,094 shares during the last quarter. Pictet Asset Management Ltd. grew its stake in Coherent by 74.6% during the 1st quarter. Pictet Asset Management Ltd. now owns 614,170 shares of the scientific and technical instruments company’s stock valued at $87,040,000 after purchasing an additional 262,497 shares during the last quarter. Finally, Royce & Associates LP grew its stake in Coherent by 7.3% during the 1st quarter. Royce & Associates LP now owns 601,518 shares of the scientific and technical instruments company’s stock valued at $85,247,000 after purchasing an additional 40,927 shares during the last quarter. Institutional investors and hedge funds own 97.19% of the company’s stock.

Coherent Company Profile

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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