Coherent, Inc. (COHR) Upgraded by BidaskClub to “Buy”
Coherent, Inc. (NASDAQ:COHR) was upgraded by equities research analysts at BidaskClub from a “hold” rating to a “buy” rating in a research report issued on Thursday.
A number of other research analysts have also recently commented on COHR. Benchmark Co. reiterated a “buy” rating on shares of Coherent in a research note on Wednesday, May 10th. Longbow Research restated a “buy” rating and issued a $325.00 price objective on shares of Coherent in a report on Wednesday, June 28th. Susquehanna Bancshares Inc restated a “neutral” rating and issued a $255.00 price objective (up from $240.00) on shares of Coherent in a report on Friday, June 30th. Stifel Nicolaus reiterated a “buy” rating and set a $290.00 price target (up from $270.00) on shares of Coherent in a report on Friday, June 30th. Finally, Needham & Company LLC increased their price target on Coherent from $215.00 to $265.00 and gave the stock a “buy” rating in a report on Wednesday, May 10th. Three analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $244.43.
Shares of Coherent (COHR) traded up 1.84% during midday trading on Thursday, hitting $271.96. The stock had a trading volume of 802,839 shares. The firm’s 50-day moving average price is $246.16 and its 200-day moving average price is $195.56. The firm has a market capitalization of $6.70 billion, a PE ratio of 54.83 and a beta of 0.69. Coherent has a one year low of $92.93 and a one year high of $277.90.
Coherent (NASDAQ:COHR) last issued its quarterly earnings results on Tuesday, May 9th. The scientific and technical instruments company reported $2.71 EPS for the quarter, beating analysts’ consensus estimates of $2.55 by $0.16. The company had revenue of $422.80 million for the quarter, compared to analyst estimates of $404.36 million. Coherent had a return on equity of 19.66% and a net margin of 9.84%. The company’s quarterly revenue was up 111.5% compared to the same quarter last year. During the same period in the previous year, the company posted $1.04 earnings per share. On average, equities analysts predict that Coherent will post $12.46 EPS for the current year.
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In related news, Director Stephen A. Skaggs sold 500 shares of Coherent stock in a transaction that occurred on Monday, May 15th. The shares were sold at an average price of $249.48, for a total value of $124,740.00. Following the sale, the director now owns 12,000 shares of the company’s stock, valued at approximately $2,993,760. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO John Ambroseo sold 24,970 shares of Coherent stock in a transaction that occurred on Monday, May 22nd. The stock was sold at an average price of $248.08, for a total transaction of $6,194,557.60. The disclosure for this sale can be found here. Insiders sold a total of 37,777 shares of company stock worth $9,320,878 in the last ninety days. 1.40% of the stock is currently owned by insiders.
Large investors have recently bought and sold shares of the company. Hanson McClain Inc. boosted its stake in 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 period. Bank of Montreal Can boosted its stake in 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 period. Asset Management One Co. Ltd. bought a new stake in Coherent during the first quarter worth approximately $170,000. Coldstream Capital Management Inc. bought a new stake in Coherent during the first quarter worth approximately $202,000. Finally, Ladenburg Thalmann Financial Services Inc. boosted its stake in Coherent by 11.5% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 1,534 shares of the scientific and technical instruments company’s stock worth $204,000 after buying an additional 158 shares during the period. 93.17% of the stock is currently owned by institutional investors.
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).
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