Coherent (NASDAQ:COHR) was downgraded by equities research analysts at ValuEngine from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Tuesday.

A number of other equities research analysts have also recently commented on the company. Zacks Investment Research cut Coherent from a “hold” rating to a “strong sell” rating in a research note on Tuesday, July 31st. Needham & Company LLC decreased their price objective on Coherent from $205.00 to $190.00 and set a “buy” rating for the company in a research note on Wednesday, August 1st. Benchmark reaffirmed a “buy” rating and set a $216.00 price objective (down from $242.00) on shares of Coherent in a research note on Wednesday, August 1st. Longbow Research set a $215.00 price objective on Coherent and gave the stock a “buy” rating in a research note on Thursday, August 23rd. Finally, Stifel Nicolaus decreased their price objective on Coherent from $218.00 to $214.00 and set a “buy” rating for the company in a research note on Friday, July 27th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the stock. Coherent currently has a consensus rating of “Hold” and a consensus target price of $229.57.

Shares of Coherent stock traded down $7.98 during trading on Tuesday, reaching $145.54. 669,800 shares of the company were exchanged, compared to its average volume of 529,863. The company has a quick ratio of 1.87, a current ratio of 3.28 and a debt-to-equity ratio of 0.34. Coherent has a twelve month low of $145.01 and a twelve month high of $329.00. The stock has a market cap of $4.18 billion, a PE ratio of 11.58 and a beta of 1.04.

Coherent (NASDAQ:COHR) last announced its quarterly earnings data 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 return on equity of 28.01% and a net margin of 12.84%. The company had revenue of $482.00 million for the quarter, compared to analyst estimates of $491.31 million. During the same period last year, the firm earned $3.36 earnings per share. The firm’s revenue for the quarter was up 3.9% on a year-over-year basis. Analysts expect that Coherent will post 13.14 EPS for the current fiscal year.

In related news, EVP Mark Stewart Sobey sold 13,000 shares of Coherent stock in a transaction on 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 sale, the executive vice president now directly owns 17,887 shares of the company’s stock, valued at $3,252,929.82. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.97% of the stock is owned by insiders.

A number of large investors have recently bought and sold shares of the business. BlackRock Inc. grew its stake in Coherent by 5.5% in the second quarter. BlackRock Inc. now owns 2,276,061 shares of the scientific and technical instruments company’s stock valued at $356,022,000 after acquiring an additional 119,540 shares during the period. OppenheimerFunds Inc. grew its stake in Coherent by 57.0% in the second quarter. OppenheimerFunds Inc. now owns 1,103,326 shares of the scientific and technical instruments company’s stock valued at $172,582,000 after acquiring an additional 400,681 shares during the period. Carillon Tower Advisers Inc. grew its stake in Coherent by 1.5% in the second quarter. Carillon Tower Advisers Inc. now owns 813,013 shares of the scientific and technical instruments company’s stock valued at $127,171,000 after acquiring an additional 11,621 shares during the period. Epoch Investment Partners Inc. grew its stake in Coherent by 6.9% in the second quarter. Epoch Investment Partners Inc. now owns 635,597 shares of the scientific and technical instruments company’s stock valued at $99,420,000 after acquiring an additional 41,113 shares during the period. Finally, Artisan Partners Limited Partnership grew its stake in Coherent by 14.1% in the second quarter. Artisan Partners Limited Partnership now owns 488,877 shares of the scientific and technical instruments company’s stock valued at $76,470,000 after acquiring an additional 60,528 shares during the period. 98.58% of the stock is owned by hedge funds and other institutional investors.

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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