Coherent, Inc. (COHR) Rating Lowered to Hold at Zacks Investment Research

Coherent, Inc. (NASDAQ:COHR) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Monday, August 7th.

According to Zacks, “COHERENT INC. designs, manufactures, and supplies electro-optical systems and medical instruments utilizing laser, precision optic and microelectronic technologies. Co. integrates these technologies into a wide variety of products and systems designed to meet the productivity and performance needs of customers. Major markets include the scientific research community; medical institutions, clinics and private practices; lasers also support commercial applications, ranging from semiconductors and disk mastering to light shows and entertainment. “

Several other brokerages have also commented on COHR. Benchmark Co. reissued a “buy” rating on shares of Coherent in a report on Wednesday, May 10th. Stifel Nicolaus boosted their price target on shares of Coherent from $220.00 to $270.00 and gave the stock a “buy” rating in a report on Wednesday, May 10th. Needham & Company LLC boosted their price target on shares of Coherent from $215.00 to $265.00 and gave the stock a “buy” rating in a report on Wednesday, May 10th. Susquehanna Bancshares Inc reaffirmed a “neutral” rating and set a $240.00 target price (up previously from $225.00) on shares of Coherent in a report on Wednesday, May 10th. Finally, Longbow Research reaffirmed a “buy” rating and set a $325.00 target price on shares of Coherent in a report on Monday, June 12th. One analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $268.88.

Shares of Coherent (COHR) traded up 1.52% during trading on Monday, reaching $218.36. 488,742 shares of the company traded hands. The firm’s 50 day moving average is $242.38 and its 200-day moving average is $219.85. Coherent has a 12-month low of $100.01 and a 12-month high of $278.39. The stock has a market capitalization of $5.38 billion, a P/E ratio of 32.88 and a beta of 0.72.

Coherent (NASDAQ:COHR) last posted 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 net margin of 11.08% and a return on equity of 24.98%. The firm had revenue of $464.10 million during the quarter, compared to analyst estimates of $466.90 million. During the same quarter in the prior year, the firm earned $1.07 earnings per share. The business’s revenue for the quarter was up 112.1% on a year-over-year basis. On average, equities research analysts anticipate that Coherent will post $12.27 earnings per share for the current fiscal year.

COPYRIGHT VIOLATION NOTICE: “Coherent, Inc. (COHR) Rating Lowered to Hold at Zacks Investment Research” was originally reported by BNB Daily and is owned by of BNB Daily. If you are viewing this piece of content on another domain, it was illegally stolen and republished in violation of U.S. & international copyright legislation. The correct version of this piece of content can be viewed at https://www.baseball-news-blog.com/2017/08/19/coherent-inc-cohr-stock-rating-lowered-by-zacks-investment-research-updated.html.

In related news, CEO John Ambroseo sold 24,970 shares of the company’s stock in a transaction that occurred on Monday, May 22nd. The shares were sold at an average price of $248.08, for a total transaction of $6,194,557.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Mark Stewart Sobey sold 4,904 shares of the stock in a transaction that occurred on Wednesday, May 24th. The shares were sold at an average price of $243.02, for a total transaction of $1,191,770.08. Following the completion of the transaction, the executive vice president now owns 12,397 shares in the company, valued at $3,012,718.94. The disclosure for this sale can be found here. Insiders have sold 30,374 shares of company stock worth $7,495,118 in the last three months. Corporate insiders own 1.40% of the company’s stock.

Institutional investors have recently made changes to their positions in the company. BlackRock Inc. raised its position in shares of Coherent by 124,951.8% in the first quarter. BlackRock Inc. now owns 2,486,029 shares of the scientific and technical instruments company’s stock worth $511,226,000 after buying an additional 2,484,041 shares during the period. Epoch Investment Partners Inc. acquired a new position in shares of Coherent during the first quarter worth about $114,876,000. Alliancebernstein L.P. raised its position in shares of Coherent by 1,420.6% in the first quarter. Alliancebernstein L.P. now owns 556,538 shares of the scientific and technical instruments company’s stock worth $114,446,000 after buying an additional 519,939 shares during the period. Koch Industries Inc. acquired a new position in shares of Coherent during the second quarter worth about $354,000. Finally, Harbour Capital Advisors LLC raised its position in shares of Coherent by 28,934.4% in the second quarter. Harbour Capital Advisors LLC now owns 304,861 shares of the scientific and technical instruments company’s stock worth $1,355,000 after buying an additional 303,811 shares during the period. Institutional investors and hedge funds own 92.40% of the company’s stock.

About Coherent

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).

Get a free copy of the Zacks research report on Coherent (COHR)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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