Coherent, Inc. (COHR) Receives Average Recommendation of “Buy” from Brokerages

Coherent, Inc. (NASDAQ:COHR) has been given an average rating of “Buy” by the twelve analysts that are presently covering the firm, MarketBeat reports. Two research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $312.22.

A number of equities research analysts have recently weighed in on the company. Needham & Company LLC reiterated a “buy” rating and issued a $294.00 price objective (down from $330.00) on shares of Coherent in a research report on Thursday. Barclays set a $325.00 price objective on Coherent and gave the stock an “overweight” rating in a research report on Thursday. Stifel Nicolaus lowered their target price on Coherent from $330.00 to $310.00 and set a “buy” rating for the company in a research note on Thursday. Zacks Investment Research upgraded Coherent from a “hold” rating to a “buy” rating and set a $337.00 target price for the company in a research note on Wednesday, January 10th. Finally, Benchmark raised their target price on Coherent from $290.00 to $310.00 and gave the company a “buy” rating in a research note on Wednesday, November 8th.

In other Coherent news, EVP Paul F. Sechrist sold 1,372 shares of Coherent stock in a transaction 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 transaction, the executive vice president now owns 2,497 shares in the company, valued at $749,100. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Stephen A. Skaggs sold 500 shares of Coherent stock in a transaction 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 transaction, the director now owns 11,000 shares of the company’s stock, valued at approximately $3,398,670. The disclosure for this sale can be found here. Insiders have sold 9,569 shares of company stock valued at $2,898,201 in the last quarter. 1.40% of the stock is owned by company insiders.

Large investors have recently made changes to their positions in the business. Tygh Capital Management Inc. raised its stake in Coherent by 36.4% during the third quarter. Tygh Capital Management Inc. now owns 35,672 shares of the scientific and technical instruments company’s stock valued at $8,389,000 after buying an additional 9,529 shares during the last quarter. Flinton Capital Management LLC raised its stake in shares of Coherent by 73.8% in the second quarter. Flinton Capital Management LLC now owns 1,168 shares of the scientific and technical instruments company’s stock worth $263,000 after purchasing an additional 496 shares during the last quarter. Gotham Asset Management LLC purchased a new position in shares of Coherent in the second quarter worth $458,000. Affinity Wealth Management raised its stake in shares of Coherent by 39.5% in the third quarter. Affinity Wealth Management now owns 2,505 shares of the scientific and technical instruments company’s stock worth $589,000 after purchasing an additional 709 shares during the last quarter. Finally, Jag Capital Management LLC purchased a new position in shares of Coherent in the fourth quarter worth $13,008,000. Institutional investors and hedge funds own 96.63% of the company’s stock.

Shares of Coherent (NASDAQ COHR) traded up $4.84 during mid-day trading on Friday, hitting $210.73. The stock had a trading volume of 913,783 shares, compared to its average volume of 653,071. The company has a market cap of $6,184.08, a price-to-earnings ratio of 25.32 and a beta of 0.65. Coherent has a 12-month low of $179.60 and a 12-month high of $329.00. The company has a current ratio of 3.13, a quick ratio of 2.14 and a debt-to-equity ratio of 0.51.

Coherent (NASDAQ:COHR) last issued its quarterly earnings data on Wednesday, February 7th. The scientific and technical instruments company reported $3.54 earnings per share for the quarter, topping the Zacks’ consensus estimate of $3.52 by $0.02. The firm had revenue of $477.60 million for the quarter, compared to analyst estimates of $474.21 million. Coherent had a return on equity of 28.53% and a net margin of 12.02%. The business’s quarterly revenue was up 38.0% compared to the same quarter last year. During the same period last year, the company earned $2.57 EPS. research analysts forecast that Coherent will post 15.56 EPS for the current fiscal year.

Coherent declared that its Board of Directors has initiated a share buyback plan on Wednesday, February 7th that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the scientific and technical instruments company to reacquire shares of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s management believes its shares are undervalued.

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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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