TheStreet lowered shares of Coherent (NASDAQ:COHR) from a b rating to a c+ rating in a report issued on Friday morning.

Other research analysts have also recently issued research reports about the company. Northcoast Research reaffirmed a buy rating and set a $217.00 price target on shares of Coherent in a research report on Thursday, August 2nd. Benchmark reaffirmed a buy rating and set a $216.00 price target (down previously from $242.00) on shares of Coherent in a research report on Wednesday, August 1st. Zacks Investment Research cut Coherent from a hold rating to a strong sell rating in a research report on Tuesday, July 31st. Stifel Nicolaus dropped their price objective on Coherent from $218.00 to $214.00 and set a buy rating on the stock in a report on Friday, July 27th. Finally, BidaskClub raised Coherent from a sell rating to a hold rating in a report on Wednesday, July 11th. Three research analysts have rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company’s stock. The company has a consensus rating of Hold and a consensus price target of $229.57.

Shares of NASDAQ COHR opened at $123.57 on Friday. Coherent has a one year low of $120.77 and a one year high of $329.00. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.87 and a current ratio of 3.28. The firm has a market cap of $3.21 billion, a PE ratio of 9.83 and a beta of 1.04.

Coherent (NASDAQ:COHR) last issued its quarterly earnings results on Tuesday, July 31st. The scientific and technical instruments company reported $3.51 EPS for the quarter, missing analysts’ consensus estimates of $3.54 by ($0.03). Coherent had a net margin of 12.84% and a return on equity of 28.01%. The firm had revenue of $482.00 million for the quarter, compared to analysts’ expectations of $491.31 million. During the same period in the prior year, the company earned $3.36 EPS. The firm’s quarterly revenue was up 3.9% on a year-over-year basis. As a group, research analysts expect that Coherent will post 13.12 EPS for the current fiscal year.

In related news, EVP Mark Stewart Sobey sold 13,000 shares of the 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 sale, the executive vice president now owns 17,887 shares of the company’s stock, valued at approximately $3,252,929.82. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.97% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of COHR. Toronto Dominion Bank increased its stake in Coherent by 326.7% in the 2nd quarter. Toronto Dominion Bank now owns 640 shares of the scientific and technical instruments company’s stock worth $100,000 after acquiring an additional 490 shares during the last quarter. Itau Unibanco Holding S.A. bought a new position in Coherent in the 2nd quarter worth about $145,000. Chicago Partners Investment Group LLC increased its stake in Coherent by 814.4% in the 2nd quarter. Chicago Partners Investment Group LLC now owns 1,143 shares of the scientific and technical instruments company’s stock worth $179,000 after acquiring an additional 1,018 shares during the last quarter. Point72 Asset Management L.P. bought a new position in Coherent in the 1st quarter worth about $206,000. Finally, Weil Company Inc. bought a new position in Coherent in the 2nd quarter worth about $252,000. 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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