Shares of Coherent, Inc. (NASDAQ:COHR) have been given a consensus recommendation of “Hold” by the nine analysts that are presently covering the firm, MarketBeat reports. Three research analysts have rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $209.50.

COHR has been the topic of several recent research reports. BidaskClub downgraded shares of Coherent from a “hold” rating to a “sell” rating in a research report on Friday, October 12th. Zacks Investment Research lowered shares of Coherent from a “hold” rating to a “sell” rating in a research note on Wednesday, October 10th. ValuEngine downgraded shares of Coherent from a “hold” rating to a “sell” rating in a report on Tuesday, October 9th. Longbow Research cut shares of Coherent from a “buy” rating to a “neutral” rating in a research report on Tuesday, October 9th. Finally, Northcoast Research cut shares of Coherent from a “buy” rating to a “hold” rating in a research report on Monday, October 8th.

Shares of COHR stock traded down $10.86 during mid-day trading on Wednesday, hitting $121.39. The company’s stock had a trading volume of 20,611 shares, compared to its average volume of 538,443. The company has a current ratio of 3.28, a quick ratio of 1.87 and a debt-to-equity ratio of 0.34. The firm has a market cap of $3.21 billion, a PE ratio of 9.69 and a beta of 1.04. Coherent has a 52 week low of $129.63 and a 52 week high of $329.00.

Coherent (NASDAQ:COHR) last released its quarterly earnings results on Tuesday, July 31st. The scientific and technical instruments company reported $3.51 earnings per share for the quarter, missing the consensus estimate of $3.54 by ($0.03). The firm had revenue of $482.00 million during the quarter, compared to the consensus estimate of $491.31 million. Coherent had a return on equity of 28.01% and a net margin of 12.84%. The company’s revenue for the quarter was up 3.9% compared to the same quarter last year. During the same period in the previous year, the company posted $3.36 EPS. On average, analysts forecast that Coherent will post 13.12 earnings per share for the current year.

In related news, EVP Mark Stewart Sobey sold 13,000 shares of the firm’s stock in a transaction dated Tuesday, August 14th. The stock was sold at an average price of $181.86, for a total transaction of $2,364,180.00. Following the completion of the transaction, the executive vice president now owns 17,887 shares of the company’s stock, valued at $3,252,929.82. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.97% of the stock is currently owned by company insiders.

Several hedge funds have recently modified their holdings of COHR. SG Capital Management LLC acquired a new stake in shares of Coherent during the 3rd quarter worth approximately $1,168,000. Oakbrook Investments LLC grew its stake in Coherent by 46.1% in the third quarter. Oakbrook Investments LLC now owns 3,250 shares of the scientific and technical instruments company’s stock valued at $560,000 after acquiring an additional 1,025 shares during the period. Aperio Group LLC boosted its position in shares of Coherent by 8.5% during the third quarter. Aperio Group LLC now owns 8,212 shares of the scientific and technical instruments company’s stock worth $1,414,000 after buying an additional 645 shares during the period. BB&T Corp raised its holdings in Coherent by 14.5% during the third quarter. BB&T Corp now owns 20,193 shares of the scientific and technical instruments company’s stock worth $3,477,000 after acquiring an additional 2,563 shares in the last quarter. Finally, Essex Investment Management Co. LLC bought a new stake in Coherent in the third quarter valued at approximately $633,000. 97.61% of the stock is currently owned by institutional investors and hedge funds.

About Coherent

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.

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Analyst Recommendations for Coherent (NASDAQ:COHR)

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