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.
WARNING: “Coherent’s (NASDAQ:COHR) “Buy” Rating Reaffirmed at Benchmark Co.” was first posted by BNB Daily and is the sole property of of BNB Daily. If you are reading this news story on another website, it was illegally stolen and reposted in violation of US and international copyright laws. The legal version of this news story can be accessed at https://www.baseball-news-blog.com/2017/08/19/benchmark-co-reaffirms-buy-rating-for-coherent-inc-nasdaqcohr-updated.html.
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).
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.