Coherent (NASDAQ:COHR) was downgraded by equities researchers at BidaskClub from a “hold” rating to a “sell” rating in a research note issued on Wednesday, BidAskClub reports.

A number of other research firms have also issued reports on COHR. Susquehanna Bancshares lowered Coherent from a “positive” rating to a “neutral” rating and set a $140.00 target price on the stock. in a report on Monday, April 29th. Zacks Investment Research raised Coherent from a “strong sell” rating to a “hold” rating in a report on Tuesday, April 2nd. Stifel Nicolaus lifted their target price on Coherent from $165.00 to $174.00 and gave the stock a “buy” rating in a report on Wednesday, May 1st. TheStreet raised Coherent from a “c+” rating to a “b-” rating in a report on Thursday, March 21st. Finally, Needham & Company LLC lowered Coherent from a “buy” rating to a “hold” rating in a report on Wednesday, January 30th. Three research analysts have rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $169.88.

Shares of COHR opened at $121.52 on Wednesday. The firm has a market cap of $2.88 billion, a PE ratio of 9.32 and a beta of 1.58. The company has a current ratio of 3.36, a quick ratio of 2.03 and a debt-to-equity ratio of 0.31. Coherent has a one year low of $90.10 and a one year high of $192.37.

Coherent (NASDAQ:COHR) last issued its quarterly earnings results on Tuesday, April 30th. The scientific and technical instruments company reported $1.30 EPS for the quarter, missing analysts’ consensus estimates of $1.31 by ($0.01). The business had revenue of $372.90 million for the quarter, compared to analyst estimates of $369.11 million. Coherent had a net margin of 11.56% and a return on equity of 17.88%. Coherent’s revenue for the quarter was down 22.5% on a year-over-year basis. During the same period last year, the business posted $3.37 earnings per share. Sell-side analysts anticipate that Coherent will post 6.1 EPS for the current year.

Large investors have recently added to or reduced their stakes in the stock. California Public Employees Retirement System grew its holdings in Coherent by 4.9% during the fourth quarter. California Public Employees Retirement System now owns 39,034 shares of the scientific and technical instruments company’s stock worth $4,126,000 after acquiring an additional 1,836 shares during the period. Principal Financial Group Inc. boosted its position in shares of Coherent by 0.8% in the 4th quarter. Principal Financial Group Inc. now owns 108,272 shares of the scientific and technical instruments company’s stock valued at $11,445,000 after purchasing an additional 875 shares during the period. Vanguard Group Inc boosted its position in shares of Coherent by 0.3% in the 3rd quarter. Vanguard Group Inc now owns 2,185,105 shares of the scientific and technical instruments company’s stock valued at $376,253,000 after purchasing an additional 5,472 shares during the period. Westside Investment Management Inc. boosted its position in shares of Coherent by 18.9% in the 4th quarter. Westside Investment Management Inc. now owns 5,597 shares of the scientific and technical instruments company’s stock valued at $592,000 after purchasing an additional 890 shares during the period. Finally, KAMES CAPITAL plc boosted its position in shares of Coherent by 3.1% in the 1st quarter. KAMES CAPITAL plc now owns 225,043 shares of the scientific and technical instruments company’s stock valued at $31,893,000 after purchasing an additional 6,724 shares during the period. 96.43% of the stock is currently 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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