Shares of Coherent, Inc. (NASDAQ:COHR) have been assigned an average recommendation of “Hold” from the twelve analysts that are currently covering the stock, MarketBeat reports. Two research analysts have rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $189.25.

COHR has been the subject of several recent research reports. ValuEngine cut Coherent from a “hold” rating to a “sell” rating in a report on Friday, September 7th. Zacks Investment Research raised Coherent from a “strong sell” rating to a “hold” rating in a report on Tuesday, September 25th. Longbow Research cut Coherent from a “buy” rating to a “neutral” rating in a report on Tuesday, October 9th. Barclays cut their price target on Coherent from $218.00 to $170.00 and set a “buy” rating for the company in a report on Tuesday, October 23rd. Finally, Northcoast Research reaffirmed a “hold” rating on shares of Coherent in a report on Wednesday, October 24th.

Shares of NASDAQ COHR traded down $4.36 during trading hours on Thursday, hitting $124.88. 14,645 shares of the company’s stock were exchanged, compared to its average volume of 354,900. Coherent has a 1-year low of $115.53 and a 1-year high of $329.00. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.02 and a current ratio of 3.32. The stock has a market capitalization of $3.15 billion, a PE ratio of 9.55 and a beta of 1.40.

Coherent (NASDAQ:COHR) last posted its quarterly earnings results on Tuesday, November 6th. The scientific and technical instruments company reported $3.22 EPS for the quarter, beating the consensus estimate of $2.96 by $0.26. The firm had revenue of $461.50 million during the quarter, compared to analysts’ expectations of $460.60 million. Coherent had a return on equity of 25.89% and a net margin of 13.00%. The company’s revenue for the quarter was down 5.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.72 EPS. As a group, equities research analysts forecast that Coherent will post 10.37 EPS for the current fiscal year.

In other news, Director Pamela Fletcher sold 458 shares of the stock in a transaction that occurred on Friday, November 9th. The stock was sold at an average price of $132.75, for a total value of $60,799.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 1.40% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of COHR. Victory Capital Management Inc. raised its holdings in shares of Coherent by 6,501.1% in the 3rd quarter. Victory Capital Management Inc. now owns 416,923 shares of the scientific and technical instruments company’s stock worth $71,790,000 after buying an additional 410,607 shares in the last quarter. OppenheimerFunds Inc. grew its position in Coherent by 57.0% during the 2nd quarter. OppenheimerFunds Inc. now owns 1,103,326 shares of the scientific and technical instruments company’s stock worth $172,582,000 after acquiring an additional 400,681 shares during the last quarter. Sterling Capital Management LLC grew its position in Coherent by 4,143.0% during the 2nd quarter. Sterling Capital Management LLC now owns 343,175 shares of the scientific and technical instruments company’s stock worth $53,679,000 after acquiring an additional 335,087 shares during the last quarter. First Trust Advisors LP bought a new stake in Coherent during the 3rd quarter worth approximately $34,534,000. Finally, Wells Fargo & Company MN grew its position in Coherent by 154.0% during the 2nd quarter. Wells Fargo & Company MN now owns 329,944 shares of the scientific and technical instruments company’s stock worth $51,609,000 after acquiring an additional 200,049 shares during the last quarter.

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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