Coherent (NASDAQ:COHR) was upgraded by equities research analysts at BidaskClub from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Thursday.

Other equities research analysts also recently issued research reports about the company. Needham & Company LLC increased their price objective on Coherent from $270.00 to $330.00 and gave the stock a “buy” rating in a research report on Wednesday, November 8th. Zacks Investment Research upgraded Coherent from a “hold” rating to a “strong-buy” rating and set a $270.00 price objective on the stock in a research report on Tuesday, October 3rd. Summit Redstone reiterated a “buy” rating and issued a $320.00 price objective on shares of Coherent in a research report on Saturday, September 23rd. Benchmark increased their price objective on Coherent from $290.00 to $310.00 and gave the stock a “buy” rating in a research report on Wednesday, November 8th. Finally, Stifel Nicolaus increased their price objective on Coherent from $290.00 to $330.00 and gave the stock a “buy” rating in a research report on Wednesday, November 8th. One investment analyst has rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $319.22.

Shares of Coherent (NASDAQ COHR) opened at $318.35 on Thursday. The company has a debt-to-equity ratio of 0.51, a current ratio of 3.13 and a quick ratio of 2.14. Coherent has a 12-month low of $145.18 and a 12-month high of $329.00. The stock has a market capitalization of $7,900.00, a price-to-earnings ratio of 37.85 and a beta of 0.82.

Coherent (NASDAQ:COHR) last issued its quarterly earnings data on Tuesday, November 7th. The scientific and technical instruments company reported $3.72 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $3.48 by $0.24. Coherent had a return on equity of 28.53% and a net margin of 12.02%. The company had revenue of $490.00 million for the quarter, compared to the consensus estimate of $475.24 million. During the same quarter last year, the business posted $1.65 earnings per share. The firm’s revenue was up 97.2% compared to the same quarter last year. analysts expect that Coherent will post 15.56 EPS for the current fiscal year.

In other Coherent news, Director Stephen A. Skaggs sold 500 shares of the firm’s stock in a transaction dated Monday, November 13th. The stock was sold at an average price of $308.97, for a total transaction of $154,485.00. Following the sale, the director now owns 11,000 shares in the company, valued at $3,398,670. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Bret Dimarco sold 5,819 shares of the firm’s stock in a transaction dated Thursday, November 9th. The shares were sold at an average price of $294.75, for a total value of $1,715,150.25. The disclosure for this sale can be found here. Insiders have sold 19,788 shares of company stock worth $5,901,628 in the last 90 days. Company insiders own 1.40% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Epoch Investment Partners Inc. raised its position in Coherent by 3.6% during the third quarter. Epoch Investment Partners Inc. now owns 962,918 shares of the scientific and technical instruments company’s stock valued at $226,449,000 after purchasing an additional 33,295 shares in the last quarter. Earnest Partners LLC raised its position in Coherent by 1.0% during the third quarter. Earnest Partners LLC now owns 636,910 shares of the scientific and technical instruments company’s stock valued at $149,782,000 after purchasing an additional 6,066 shares in the last quarter. FMR LLC raised its position in Coherent by 23.2% during the second quarter. FMR LLC now owns 494,053 shares of the scientific and technical instruments company’s stock valued at $111,157,000 after purchasing an additional 93,014 shares in the last quarter. NWQ Investment Management Company LLC raised its position in Coherent by 10.9% during the third quarter. NWQ Investment Management Company LLC now owns 446,953 shares of the scientific and technical instruments company’s stock valued at $105,110,000 after purchasing an additional 43,822 shares in the last quarter. Finally, Koch Industries Inc. purchased a new position in shares of Coherent in the second quarter worth about $354,000. Institutional investors and hedge funds own 96.90% of the company’s stock.

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Coherent Company Profile

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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