Coherent (COHR) Downgraded by BidaskClub to Sell

BidaskClub downgraded shares of Coherent (NASDAQ:COHR) from a hold rating to a sell rating in a research note released on Friday.

COHR has been the topic of several other reports. Barclays cut their target price on shares of Coherent from $225.00 to $218.00 and set a buy rating on the stock in a research note on Wednesday, May 2nd. ValuEngine downgraded shares of Coherent from a sell rating to a strong sell rating in a research note on Wednesday, May 2nd. Zacks Investment Research raised shares of Coherent from a sell rating to a hold rating in a research note on Monday, April 16th. Benchmark reissued a buy rating and set a $242.00 target price on shares of Coherent in a research note on Tuesday, June 12th. Finally, Stifel Nicolaus assumed coverage on shares of Coherent in a research note on Thursday, May 10th. They set a buy rating and a $248.00 target price on the stock. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and nine have issued a buy rating to the company. Coherent presently has a consensus rating of Buy and a consensus price target of $276.00.

NASDAQ COHR opened at $154.92 on Friday. The firm has a market capitalization of $3.86 billion, a price-to-earnings ratio of 12.32 and a beta of 0.97. Coherent has a 1 year low of $152.34 and a 1 year high of $329.00. The company has a current ratio of 3.10, a quick ratio of 1.88 and a debt-to-equity ratio of 0.35.

Coherent (NASDAQ:COHR) last posted its quarterly earnings results on Tuesday, May 1st. The scientific and technical instruments company reported $3.37 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $3.49 by ($0.12). Coherent had a net margin of 12.65% and a return on equity of 29.28%. The company had revenue of $481.10 million during the quarter, compared to the consensus estimate of $481.82 million. During the same period in the prior year, the company posted $2.91 EPS. Coherent’s quarterly revenue was up 13.8% on a year-over-year basis. analysts anticipate that Coherent will post 13.27 EPS for the current year.

Several hedge funds and other institutional investors have recently bought and sold shares of COHR. Carillon Tower Advisers Inc. acquired a new position in shares of Coherent in the fourth quarter worth $213,124,000. TimesSquare Capital Management LLC increased its stake in shares of Coherent by 421.4% in the fourth quarter. TimesSquare Capital Management LLC now owns 372,300 shares of the scientific and technical instruments company’s stock worth $105,071,000 after acquiring an additional 300,900 shares during the last quarter. Renaissance Technologies LLC increased its stake in shares of Coherent by 146.8% in the fourth quarter. Renaissance Technologies LLC now owns 265,800 shares of the scientific and technical instruments company’s stock worth $75,014,000 after acquiring an additional 158,100 shares during the last quarter. Handelsbanken Fonder AB acquired a new position in shares of Coherent in the first quarter worth $29,295,000. Finally, State of New Jersey Common Pension Fund D acquired a new position in shares of Coherent in the first quarter worth $26,236,000. 98.39% of the stock is currently owned by institutional investors and hedge funds.

Coherent Company Profile

Coherent, Inc provides lasers and laser-based technology in a range of scientific, commercial, and industrial applications worldwide. It operates through two segments, Specialty Lasers and Systems, and Commercial Lasers and Components. The company designs, manufactures, services, and markets lasers, laser tools, precision optics, and related accessories.

Analyst Recommendations for Coherent (NASDAQ:COHR)

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