Coherent (NASDAQ:COHR) Stock Rating Lowered by TheStreet

Coherent (NASDAQ:COHR) was downgraded by equities researchers at TheStreet from a “b-” rating to a “c+” rating in a report released on Wednesday, TheStreetRatingsTable reports.

Other analysts have also recently issued reports about the stock. ValuEngine upgraded shares of Coherent from a “hold” rating to a “buy” rating in a report on Tuesday, August 6th. Susquehanna Bancshares cut shares of Coherent from a “positive” rating to a “neutral” rating and set a $140.00 price target on the stock. in a report on Monday, April 29th. BidaskClub upgraded shares of Coherent from a “hold” rating to a “buy” rating in a report on Friday, June 28th. Stifel Nicolaus raised their price target on shares of Coherent from $165.00 to $174.00 and gave the company a “buy” rating in a report on Wednesday, May 1st. Finally, Benchmark restated a “buy” rating and issued a $165.00 price target on shares of Coherent in a report on Wednesday, July 31st. One analyst has rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $159.17.

Shares of COHR stock traded up $5.10 on Wednesday, hitting $142.18. The stock had a trading volume of 71,053 shares, compared to its average volume of 382,140. The company has a quick ratio of 2.34, a current ratio of 3.97 and a debt-to-equity ratio of 0.31. The business has a 50 day moving average price of $136.51 and a 200 day moving average price of $134.68. The company has a market cap of $3.43 billion, a PE ratio of 10.90 and a beta of 1.82. Coherent has a one year low of $90.10 and a one year high of $192.37.

Coherent (NASDAQ:COHR) last released its quarterly earnings results on Tuesday, July 30th. The scientific and technical instruments company reported $1.33 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.05 by $0.28. Coherent had a net margin of 8.12% and a return on equity of 13.38%. The business had revenue of $339.17 million during the quarter, compared to analyst estimates of $348.61 million. During the same period in the prior year, the firm posted $3.51 earnings per share. The company’s quarterly revenue was down 29.7% on a year-over-year basis. Equities research analysts expect that Coherent will post 4.92 EPS for the current year.

Several institutional investors have recently made changes to their positions in the stock. BlackRock Inc. raised its position in shares of Coherent by 1.2% in the 1st quarter. BlackRock Inc. now owns 2,268,315 shares of the scientific and technical instruments company’s stock valued at $321,464,000 after purchasing an additional 26,658 shares during the last quarter. Victory Capital Management Inc. raised its position in shares of Coherent by 18.2% in the 2nd quarter. Victory Capital Management Inc. now owns 1,194,882 shares of the scientific and technical instruments company’s stock valued at $162,946,000 after purchasing an additional 183,600 shares during the last quarter. Invesco Ltd. raised its position in shares of Coherent by 407.0% in the 2nd quarter. Invesco Ltd. now owns 637,904 shares of the scientific and technical instruments company’s stock valued at $86,991,000 after purchasing an additional 512,094 shares during the last quarter. Pictet Asset Management Ltd. raised its position in shares of Coherent by 74.6% in the 1st quarter. Pictet Asset Management Ltd. now owns 614,170 shares of the scientific and technical instruments company’s stock valued at $87,040,000 after purchasing an additional 262,497 shares during the last quarter. Finally, Royce & Associates LP raised its position in shares of Coherent by 7.3% in the 1st quarter. Royce & Associates LP now owns 601,518 shares of the scientific and technical instruments company’s stock valued at $85,247,000 after purchasing an additional 40,927 shares during the last quarter. 96.43% of the stock is owned by hedge funds and other institutional investors.

Coherent Company Profile

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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Analyst Recommendations for Coherent (NASDAQ:COHR)

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