Coherent, Inc. (NASDAQ:COHR) Receives Average Recommendation of “Hold” from Brokerages

Coherent, Inc. (NASDAQ:COHR) has been assigned a consensus recommendation of “Hold” from the fifteen ratings firms that are presently covering the company, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and seven have given a buy rating to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $166.50.

Several analysts recently weighed in on COHR shares. Longbow Research raised Coherent from a “neutral” rating to a “buy” rating and set a $165.00 price objective for the company in a report on Monday, July 27th. Piper Sandler lowered their price objective on Coherent from $195.00 to $185.00 and set an “overweight” rating for the company in a report on Thursday, May 28th. TheStreet lowered Coherent from a “c” rating to a “d” rating in a report on Wednesday, May 27th. BidaskClub lowered Coherent from a “sell” rating to a “strong sell” rating in a report on Friday, August 21st. Finally, Susquehanna Bancshares reissued a “buy” rating and issued a $170.00 price objective on shares of Coherent in a report on Friday, May 29th.

Several large investors have recently bought and sold shares of the company. Fifth Third Bancorp grew its holdings in shares of Coherent by 16.1% during the first quarter. Fifth Third Bancorp now owns 626 shares of the scientific and technical instruments company’s stock valued at $67,000 after purchasing an additional 87 shares during the last quarter. Chicago Partners Investment Group LLC grew its holdings in Coherent by 4.6% in the 2nd quarter. Chicago Partners Investment Group LLC now owns 2,035 shares of the scientific and technical instruments company’s stock worth $286,000 after buying an additional 90 shares in the last quarter. Guggenheim Capital LLC grew its holdings in Coherent by 1.9% in the 1st quarter. Guggenheim Capital LLC now owns 7,542 shares of the scientific and technical instruments company’s stock worth $803,000 after buying an additional 144 shares in the last quarter. US Bancorp DE grew its holdings in Coherent by 2.2% in the 1st quarter. US Bancorp DE now owns 7,453 shares of the scientific and technical instruments company’s stock worth $793,000 after buying an additional 162 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. bought a new position in Coherent in the 1st quarter worth approximately $25,000. 96.04% of the stock is owned by institutional investors.

Shares of NASDAQ:COHR traded down $1.51 during trading on Wednesday, hitting $104.81. The company’s stock had a trading volume of 110,800 shares, compared to its average volume of 213,379. The company has a debt-to-equity ratio of 0.44, a quick ratio of 2.69 and a current ratio of 4.40. Coherent has a fifty-two week low of $78.21 and a fifty-two week high of $178.08. The stock’s 50-day moving average price is $116.08 and its two-hundred day moving average price is $124.36. The company has a market capitalization of $2.58 billion, a PE ratio of -6.00, a PEG ratio of 4.68 and a beta of 1.66.

Coherent (NASDAQ:COHR) last released its quarterly earnings results on Tuesday, August 4th. The scientific and technical instruments company reported $0.52 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.21 by $0.31. Coherent had a positive return on equity of 3.25% and a negative net margin of 33.76%. The business had revenue of $298.30 million for the quarter, compared to analysts’ expectations of $287.43 million. During the same quarter in the previous year, the firm posted $1.33 earnings per share. The company’s revenue was down 12.0% compared to the same quarter last year. On average, equities analysts predict that Coherent will post 1.29 earnings per share for the current fiscal year.

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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