Coherent (NASDAQ:COHR) Upgraded by TheStreet to “B-“

Coherent (NASDAQ:COHR) was upgraded by equities researchers at TheStreet from a “c+” rating to a “b-” rating in a report issued on Thursday, March 21st, TheStreetRatingsTable reports.

A number of other brokerages also recently issued reports on COHR. Vertical Group assumed coverage on shares of Coherent in a research report on Tuesday, November 27th. They issued a “buy” rating for the company. BidaskClub raised shares of Coherent from a “hold” rating to a “buy” rating in a research report on Thursday, February 14th. Zacks Investment Research downgraded shares of Coherent from a “hold” rating to a “strong sell” rating in a research report on Monday, February 4th. Needham & Company LLC downgraded shares of Coherent from a “buy” rating to a “hold” rating in a research report on Wednesday, January 30th. Finally, Benchmark reissued a “buy” rating and set a $162.00 target price (down from $212.00) on shares of Coherent in a research report on Wednesday, January 30th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $175.71.

Shares of COHR traded down $0.75 on Thursday, reaching $155.44. The company’s stock had a trading volume of 206,634 shares, compared to its average volume of 380,238. The company has a debt-to-equity ratio of 0.31, a current ratio of 3.26 and a quick ratio of 1.95. Coherent has a twelve month low of $90.10 and a twelve month high of $192.37. The firm has a market capitalization of $3.83 billion, a PE ratio of 11.91 and a beta of 1.59.

Coherent (NASDAQ:COHR) last posted its earnings results on Tuesday, January 29th. The scientific and technical instruments company reported $2.09 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.07 by $0.02. Coherent had a net margin of 13.33% and a return on equity of 22.05%. The company had revenue of $383.15 million for the quarter, compared to analyst estimates of $382.65 million. As a group, analysts expect that Coherent will post 7.15 EPS for the current year.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its holdings in Coherent by 0.3% in the 3rd quarter. Vanguard Group Inc. now owns 2,185,105 shares of the scientific and technical instruments company’s stock worth $376,253,000 after buying an additional 5,472 shares during the period. Vanguard Group Inc boosted its holdings in Coherent by 0.3% in the 3rd quarter. Vanguard Group Inc now owns 2,185,105 shares of the scientific and technical instruments company’s stock worth $376,253,000 after buying an additional 5,472 shares during the period. OppenheimerFunds Inc. lifted its stake in Coherent by 9.0% in the 3rd quarter. OppenheimerFunds Inc. now owns 1,203,046 shares of the scientific and technical instruments company’s stock worth $207,152,000 after purchasing an additional 99,720 shares in the last quarter. Eagle Asset Management Inc. lifted its stake in Coherent by 0.3% in the 4th quarter. Eagle Asset Management Inc. now owns 1,186,202 shares of the scientific and technical instruments company’s stock worth $125,393,000 after purchasing an additional 2,995 shares in the last quarter. Finally, Victory Capital Management Inc. lifted its stake in Coherent by 121.0% in the 4th quarter. Victory Capital Management Inc. now owns 921,581 shares of the scientific and technical instruments company’s stock worth $97,421,000 after purchasing an additional 504,658 shares in the last quarter. 96.43% of the stock is owned by institutional investors.

About Coherent

Coherent, Inc provides lasers, laser-based technologies, and laser-based system solutions for a range of scientific, commercial, and industrial applications. It operates through two segments, OEM Laser Sources and Industrial Lasers & Systems. The company designs, manufactures, markets, and services lasers, laser tools, precision optics, and related accessories; and laser measurement and control products.

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