Coherent, Inc. (COHR) Coverage Initiated at Barclays PLC

Research analysts at Barclays PLC initiated coverage on shares of Coherent, Inc. (NASDAQ:COHR) in a note issued to investors on Monday, August 7th, Marketbeat reports. The brokerage set an “overweight” rating and a $285.00 price target on the scientific and technical instruments company’s stock. Barclays PLC’s target price points to a potential upside of 30.52% from the company’s previous close.

Several other brokerages have also recently issued reports on COHR. BidaskClub upgraded shares of Coherent from a “hold” rating to a “buy” rating in a report on Thursday, July 13th. Zacks Investment Research lowered Coherent from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 11th. Needham & Company LLC reaffirmed a “buy” rating and issued a $270.00 price target (up previously from $265.00) on shares of Coherent in a research note on Wednesday, August 2nd. Stifel Nicolaus reaffirmed a “buy” rating and issued a $290.00 price target (up previously from $270.00) on shares of Coherent in a research note on Friday, June 30th. Finally, Benchmark Co. reaffirmed a “buy” rating on shares of Coherent in a research note on Wednesday, May 10th. One research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $268.88.

Coherent (NASDAQ:COHR) traded up 1.52% during midday trading on Monday, reaching $218.36. 488,742 shares of the company traded hands. The company has a market capitalization of $5.38 billion, a price-to-earnings ratio of 32.88 and a beta of 0.72. Coherent has a one year low of $100.01 and a one year high of $278.39. The stock’s 50 day moving average is $242.38 and its 200 day moving average is $219.85.

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

ILLEGAL ACTIVITY NOTICE: This story was posted by BNB Daily and is owned by of BNB Daily. If you are viewing this story on another publication, it was illegally stolen and republished in violation of U.S. & international trademark & copyright law. The correct version of this story can be viewed at https://www.baseball-news-blog.com/2017/08/19/barclays-plc-initiates-coverage-on-coherent-inc-cohr-updated.html.

In other Coherent news, Director Stephen A. Skaggs sold 500 shares of the firm’s stock in a transaction on Monday, August 14th. The stock was 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 owns 11,500 shares of the company’s stock, valued at $2,502,170. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO John Ambroseo sold 24,970 shares of the firm’s stock in a transaction on Monday, May 22nd. The shares were sold at an average price of $248.08, for a total value of $6,194,557.60. The disclosure for this sale can be found here. Insiders have sold 30,374 shares of company stock valued at $7,495,118 in the last three months. Insiders own 1.40% of the company’s stock.

A number of institutional investors have recently made changes to their positions in the stock. Dynamic Technology Lab Private Ltd purchased a new position in shares of Coherent during the second quarter valued at approximately $420,000. WINTON GROUP Ltd purchased a new position in shares of Coherent during the second quarter valued at approximately $744,000. Public Employees Retirement System of Ohio raised its position in shares of Coherent by 1,266.0% in the second quarter. Public Employees Retirement System of Ohio now owns 11,666 shares of the scientific and technical instruments company’s stock valued at $2,625,000 after buying an additional 10,812 shares in the last quarter. Koch Industries Inc. purchased a new position in shares of Coherent during the second quarter valued at approximately $354,000. Finally, Verition Fund Management LLC purchased a new position in shares of Coherent during the second quarter valued at approximately $825,000. 92.40% of the stock is owned by institutional investors and hedge funds.

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)

Receive News & Ratings for Coherent Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Coherent Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply