Coherent, Inc. (NASDAQ:COHR) has received an average recommendation of “Buy” from the twelve ratings firms that are currently covering the company, Marketbeat reports. One research analyst has rated the stock with a hold recommendation and eleven have assigned a buy recommendation to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $319.22.

Several brokerages recently weighed in on COHR. Zacks Investment Research downgraded shares of Coherent from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 9th. Stifel Nicolaus raised their price target on shares of Coherent from $290.00 to $330.00 and gave the company a “buy” rating in a research report on Wednesday, November 8th. Barclays set a $332.00 price target on shares of Coherent and gave the company a “buy” rating in a research report on Wednesday, January 10th. Benchmark raised their price target on shares of Coherent from $290.00 to $310.00 and gave the company a “buy” rating in a research report on Wednesday, November 8th. Finally, Needham & Company LLC raised their price target on shares of Coherent from $270.00 to $330.00 and gave the company a “buy” rating in a research report on Wednesday, November 8th.

Shares of Coherent (NASDAQ:COHR) traded up $4.41 on Monday, hitting $301.57. 200,500 shares of the company traded hands, compared to its average volume of 346,367. The company has a market capitalization of $7,480.00, a P/E ratio of 35.86 and a beta of 0.82. The company has a quick ratio of 2.14, a current ratio of 3.13 and a debt-to-equity ratio of 0.51. Coherent has a 12 month low of $143.74 and a 12 month high of $320.73.

Coherent (NASDAQ:COHR) last announced its quarterly earnings results on Tuesday, November 7th. The scientific and technical instruments company reported $3.72 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $3.48 by $0.24. The company had revenue of $490.00 million during the quarter, compared to the consensus estimate of $475.24 million. Coherent had a net margin of 12.02% and a return on equity of 28.53%. The firm’s quarterly revenue was up 97.2% compared to the same quarter last year. During the same quarter last year, the firm earned $1.65 earnings per share. equities analysts predict that Coherent will post 15.56 earnings per share for the current fiscal year.

In other Coherent news, Director Stephen A. Skaggs sold 500 shares of Coherent stock in a transaction that occurred on Monday, November 13th. The shares were sold at an average price of $308.97, for a total value of $154,485.00. Following the completion of the sale, the director now owns 11,000 shares of the company’s stock, valued at approximately $3,398,670. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Paul F. Sechrist sold 1,372 shares of Coherent stock in a transaction that occurred on Thursday, January 4th. The stock was sold at an average price of $300.00, for a total transaction of $411,600.00. Following the completion of the sale, the executive vice president now directly owns 2,497 shares of the company’s stock, valued at approximately $749,100. The disclosure for this sale can be found here. In the last ninety days, insiders sold 19,788 shares of company stock valued at $5,901,628. 1.40% of the stock is currently owned by insiders.

Institutional investors have recently modified their holdings of the company. Epoch Investment Partners Inc. boosted its stake in shares of Coherent by 66.4% during the 2nd quarter. Epoch Investment Partners Inc. now owns 929,623 shares of the scientific and technical instruments company’s stock worth $209,157,000 after acquiring an additional 370,993 shares during the last quarter. Koch Industries Inc. purchased a new position in shares of Coherent during the 2nd quarter worth $354,000. Janus Henderson Group PLC purchased a new position in shares of Coherent during the 3rd quarter worth $48,672,000. Goldman Sachs Group Inc. boosted its stake in shares of Coherent by 213.4% during the 2nd quarter. Goldman Sachs Group Inc. now owns 210,889 shares of the scientific and technical instruments company’s stock worth $47,448,000 after acquiring an additional 143,606 shares during the last quarter. Finally, Pictet Asset Management Ltd. purchased a new position in shares of Coherent during the 3rd quarter worth $25,361,000. Institutional investors and hedge funds own 96.90% of the company’s stock.

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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).

Analyst Recommendations for Coherent (NASDAQ:COHR)

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