Coherent (NASDAQ:COHR) Given New $182.00 Price Target at Benchmark

Coherent (NASDAQ:COHR) had its target price upped by Benchmark from $175.00 to $182.00 in a research report report published on Wednesday, The Fly reports. They currently have a buy rating on the scientific and technical instruments company’s stock.

A number of other research firms have also issued reports on COHR. BidaskClub lowered shares of Coherent from a buy rating to a hold rating in a report on Thursday, October 24th. TheStreet lowered shares of Coherent from a b- rating to a c+ rating in a report on Wednesday, August 14th. Zacks Investment Research upgraded shares of Coherent from a strong sell rating to a hold rating in a report on Tuesday, October 1st. Finally, ValuEngine lowered shares of Coherent from a buy rating to a hold rating in a report on Monday, October 21st. Eight equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock has a consensus rating of Hold and a consensus price target of $151.40.

Coherent stock traded down $6.79 during midday trading on Wednesday, reaching $160.22. 368,500 shares of the stock traded hands, compared to its average volume of 346,564. Coherent has a fifty-two week low of $90.10 and a fifty-two week high of $173.92. The firm has a market cap of $3.95 billion, a price-to-earnings ratio of 32.76 and a beta of 1.76. The firm has a fifty day moving average price of $153.94 and a two-hundred day moving average price of $141.16. The company has a current ratio of 3.97, a quick ratio of 2.34 and a debt-to-equity ratio of 0.31.

Coherent (NASDAQ:COHR) last released its earnings results on Tuesday, November 5th. The scientific and technical instruments company reported $0.89 EPS for the quarter, missing the consensus estimate of $0.96 by ($0.07). Coherent had a net margin of 3.76% and a return on equity of 8.90%. The business had revenue of $335.50 million for the quarter, compared to analyst estimates of $329.12 million. During the same period in the prior year, the company earned $3.22 earnings per share. The firm’s revenue for the quarter was down 27.3% on a year-over-year basis. Analysts anticipate that Coherent will post 4.57 earnings per share for the current year.

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Hedge funds have recently added to or reduced their stakes in the company. MUFG Americas Holdings Corp acquired a new stake in shares of Coherent during the third quarter valued at approximately $25,000. Steward Partners Investment Advisory LLC acquired a new stake in shares of Coherent during the second quarter valued at approximately $28,000. Cerebellum GP LLC acquired a new stake in shares of Coherent during the second quarter valued at approximately $48,000. Quadrant Capital Group LLC increased its stake in Coherent by 160.6% in the 3rd quarter. Quadrant Capital Group LLC now owns 404 shares of the scientific and technical instruments company’s stock valued at $55,000 after buying an additional 249 shares during the period. Finally, Whittier Trust Co. of Nevada Inc. increased its stake in Coherent by 724.1% in the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 478 shares of the scientific and technical instruments company’s stock valued at $73,000 after buying an additional 420 shares during the period. Institutional investors and hedge funds own 99.24% of the company’s stock.

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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