Vertical Group upgraded shares of Coherent (NASDAQ:COHR) from a sell rating to a neutral rating in a research report report published on Monday morning, The Fly reports.
Other equities research analysts have also recently issued reports about the company. Needham & Company LLC reiterated a hold rating on shares of Coherent in a report on Wednesday, August 5th. Benchmark decreased their price objective on Coherent from $168.00 to $160.00 and set a buy rating for the company in a research note on Wednesday, August 5th. BidaskClub cut Coherent from a sell rating to a strong sell rating in a research note on Friday, August 21st. Stifel Nicolaus decreased their price objective on Coherent from $178.00 to $170.00 and set a buy rating for the company in a research note on Thursday, May 28th. Finally, Longbow Research upgraded Coherent from a neutral rating to a buy rating and set a $165.00 price objective for the company in a research note on Monday, July 27th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and seven have given a buy rating to the stock. The stock has an average rating of Hold and a consensus target price of $166.50.
Shares of COHR stock opened at $108.27 on Monday. Coherent has a twelve month low of $78.21 and a twelve month high of $178.08. The stock has a market capitalization of $2.63 billion, a price-to-earnings ratio of -6.19, a P/E/G ratio of 4.78 and a beta of 1.66. The stock has a fifty day simple moving average of $119.67 and a two-hundred day simple moving average of $124.94. The company has a current ratio of 4.40, a quick ratio of 2.69 and a debt-to-equity ratio of 0.44.
Coherent (NASDAQ:COHR) last issued its earnings results on Tuesday, August 4th. The scientific and technical instruments company reported $0.52 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.21 by $0.31. Coherent had a positive return on equity of 3.25% and a negative net margin of 33.76%. The business had revenue of $298.30 million during the quarter, compared to analysts’ expectations of $287.43 million. During the same period in the prior year, the business earned $1.33 EPS. The business’s revenue for the quarter was down 12.0% compared to the same quarter last year. Research analysts predict that Coherent will post 1.27 EPS for the current fiscal year.
Hedge funds have recently made changes to their positions in the company. Principal Financial Group Inc. lifted its position in shares of Coherent by 2.6% in the second quarter. Principal Financial Group Inc. now owns 75,773 shares of the scientific and technical instruments company’s stock valued at $9,925,000 after acquiring an additional 1,934 shares in the last quarter. Teachers Retirement System of The State of Kentucky lifted its position in shares of Coherent by 4.7% in the second quarter. Teachers Retirement System of The State of Kentucky now owns 43,711 shares of the scientific and technical instruments company’s stock valued at $5,726,000 after acquiring an additional 1,947 shares in the last quarter. Neuberger Berman Group LLC purchased a new position in shares of Coherent in the second quarter valued at approximately $3,627,000. Handelsbanken Fonder AB purchased a new position in shares of Coherent in the second quarter valued at approximately $537,000. Finally, Nuveen Asset Management LLC lifted its position in shares of Coherent by 1.7% in the second quarter. Nuveen Asset Management LLC now owns 73,547 shares of the scientific and technical instruments company’s stock valued at $9,634,000 after acquiring an additional 1,220 shares in the last quarter. 96.04% of the stock is currently owned by institutional investors and hedge funds.
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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