Coherent Stock Rating Lowered by Zacks (COHR)
Coherent (NASDAQ:COHR) was downgraded by Zacks from an “outperform” rating to a “neutral” rating in a report issued on Wednesday, Analyst Ratings News reports. They currently have a $79.30 price objective on the stock. Zacks‘ price target would indicate a potential upside of 22.57% from the company’s current price.
Shares of Coherent (NASDAQ:COHR) traded up 0.17% during mid-day trading on Wednesday, hitting $64.81. The stock had a trading volume of 48,069 shares. Coherent has a 1-year low of $49.73 and a 1-year high of $76.98. The stock’s 50-day moving average is $72.45 and its 200-day moving average is $64.82. The company has a market cap of $1.591 billion and a P/E ratio of 25.01.
Coherent (NASDAQ:COHR) last issued its quarterly earnings data on Wednesday, January 29th. The company reported $0.68 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.81 by $0.13. The company had revenue of $193.56 million for the quarter, compared to the consensus estimate of $197.43 million. During the same quarter in the previous year, the company posted $0.73 earnings per share. The company’s revenue for the quarter was up 5.7% on a year-over-year basis. On average, analysts predict that Coherent will post $3.60 earnings per share for the current fiscal year.
A number of other analysts have also recently weighed in on COHR. Analysts at B. Riley raised their price target on shares of Coherent from $74.00 to $75.00 in a research note to investors on Thursday, January 30th. Analysts at Stifel Nicolaus raised their price target on shares of Coherent from $74.00 to $84.00 in a research note to investors on Monday, January 6th. They now have a “buy” rating on the stock. One investment analyst has rated the stock with a hold rating and three have given a buy rating to the company’s stock. Coherent currently has an average rating of “Buy” and an average target price of $76.06.
Coherent, Inc (NASDAQ:COHR) is a suppliers of photonics-based solutions in a range of commercial and scientific research applications.
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