Coherent’s (NASDAQ:COHR) “Buy” Rating Reaffirmed at Benchmark Co.

Coherent, Inc. (NASDAQ:COHR)‘s stock had its “buy” rating reaffirmed by Benchmark Co. in a research note issued to investors on Tuesday, August 8th. They presently have a $290.00 price target on the scientific and technical instruments company’s stock, down from their prior price target of $295.00. Benchmark Co.’s price target would suggest a potential upside of 32.81% from the stock’s current price.

Several other research analysts also recently commented on COHR. Zacks Investment Research downgraded shares of Coherent from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 11th. Stifel Nicolaus lifted their target price on shares of Coherent from $220.00 to $270.00 and gave the stock a “buy” rating in a research note on Wednesday, May 10th. Needham & Company LLC boosted their price objective on shares of Coherent from $215.00 to $265.00 and gave the company a “buy” rating in a research report on Wednesday, May 10th. Susquehanna Bancshares Inc reissued a “neutral” rating and set a $240.00 price objective (up from $225.00) on shares of Coherent in a research report on Wednesday, May 10th. Finally, Longbow Research reissued a “buy” rating and set a $325.00 price objective on shares of Coherent in a research report on Monday, June 12th. One research analyst has rated the stock with a hold rating and ten have issued a buy rating to the company. Coherent presently has a consensus rating of “Buy” and an average price target of $268.88.

Coherent (NASDAQ:COHR) opened at 218.36 on Tuesday. Coherent has a 12 month low of $100.01 and a 12 month high of $278.39. The firm has a 50-day moving average of $242.38 and a 200 day moving average of $219.85. The firm has a market capitalization of $5.38 billion, a PE ratio of 32.88 and a beta of 0.72.

Coherent (NASDAQ:COHR) last issued its earnings results on Tuesday, August 1st. The scientific and technical instruments company reported $3.36 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 analysts’ expectations of $466.90 million. During the same period in the previous year, the firm earned $1.07 earnings per share. The firm’s quarterly revenue was up 112.1% compared to the same quarter last year. Equities research analysts forecast that Coherent will post $12.27 earnings per share for the current year.

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In related news, CEO John Ambroseo sold 24,970 shares of the company’s stock in a transaction dated Monday, May 22nd. The shares were sold at an average price of $248.08, for a total value of $6,194,557.60. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Stephen A. Skaggs sold 500 shares of the company’s stock in a transaction dated 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 in the company, valued at approximately $2,502,170. The disclosure for this sale can be found here. Insiders sold a total of 30,374 shares of company stock worth $7,495,118 over the last ninety days. Insiders own 1.40% of the company’s stock.

A number of institutional investors have recently made changes to their positions in the company. Hanson McClain Inc. boosted its position in shares of Coherent by 54.5% in the first quarter. Hanson McClain Inc. now owns 709 shares of the scientific and technical instruments company’s stock worth $146,000 after buying an additional 250 shares during the last quarter. Bank of Montreal Can boosted its position in shares of Coherent by 11.4% in the first quarter. Bank of Montreal Can now owns 812 shares of the scientific and technical instruments company’s stock worth $167,000 after buying an additional 83 shares during the last quarter. Asset Management One Co. Ltd. purchased a new position in shares of Coherent during the first quarter worth about $170,000. Smithfield Trust Co. purchased a new position in shares of Coherent during the second quarter worth about $199,000. Finally, Coldstream Capital Management Inc. purchased a new position in shares of Coherent during the first quarter worth about $202,000. Institutional investors own 92.40% of the company’s stock.

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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