Coherent (NASDAQ:COHR) Rating Lowered to C+ at TheStreet

TheStreet lowered shares of Coherent (NASDAQ:COHR) from a b- rating to a c+ rating in a research note released on Wednesday morning, TheStreetRatingsTable reports.

COHR has been the topic of a number of other reports. ValuEngine raised shares of Coherent from a hold rating to a buy rating in a research note on Tuesday, August 6th. Susquehanna Bancshares downgraded shares of Coherent from a positive rating to a neutral rating and set a $140.00 target price on the stock. in a research note on Monday, April 29th. Zacks Investment Research downgraded shares of Coherent from a hold rating to a strong sell rating in a research note on Monday, August 5th. Benchmark reaffirmed a buy rating and set a $165.00 target price on shares of Coherent in a research note on Wednesday, July 31st. Finally, Stifel Nicolaus lifted their target price on shares of Coherent from $165.00 to $174.00 and gave the stock a buy rating in a research note on Wednesday, May 1st. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the company’s stock. The stock currently has an average rating of Hold and an average price target of $159.17.

Shares of COHR stock opened at $146.51 on Wednesday. The company has a debt-to-equity ratio of 0.31, a current ratio of 3.97 and a quick ratio of 2.34. The firm’s 50-day moving average is $136.69 and its two-hundred day moving average is $134.73. Coherent has a 12 month low of $90.10 and a 12 month high of $192.37. The company has a market capitalization of $3.51 billion, a PE ratio of 11.24 and a beta of 1.82.

Coherent (NASDAQ:COHR) last issued its earnings results on Tuesday, July 30th. The scientific and technical instruments company reported $1.33 EPS for the quarter, topping analysts’ consensus estimates of $1.05 by $0.28. Coherent had a net margin of 8.12% and a return on equity of 13.38%. The company had revenue of $339.17 million for the quarter, compared to the consensus estimate of $348.61 million. During the same period in the previous year, the firm earned $3.51 earnings per share. Coherent’s quarterly revenue was down 29.7% compared to the same quarter last year. Sell-side analysts forecast that Coherent will post 4.92 EPS for the current year.

Several institutional investors and hedge funds have recently made changes to their positions in the business. BlackRock Inc. increased its position in shares of Coherent by 1.2% during the first quarter. BlackRock Inc. now owns 2,268,315 shares of the scientific and technical instruments company’s stock valued at $321,464,000 after acquiring an additional 26,658 shares during the last quarter. Victory Capital Management Inc. increased its position in shares of Coherent by 18.2% during the second 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 acquiring an additional 183,600 shares during the last quarter. Invesco Ltd. increased its position in shares of Coherent by 407.0% during the second quarter. Invesco Ltd. now owns 637,904 shares of the scientific and technical instruments company’s stock valued at $86,991,000 after acquiring an additional 512,094 shares during the last quarter. Pictet Asset Management Ltd. increased its position in shares of Coherent by 74.6% during the first 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 acquiring an additional 262,497 shares during the last quarter. Finally, Royce & Associates LP increased its position in shares of Coherent by 7.3% during the first quarter. Royce & Associates LP now owns 601,518 shares of the scientific and technical instruments company’s stock valued at $85,247,000 after acquiring an additional 40,927 shares during the last quarter. Institutional investors and hedge funds own 96.43% of the company’s stock.

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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Analyst Recommendations for Coherent (NASDAQ:COHR)

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