Coherent (COHR) Given a $332.00 Price Target at Barclays

Coherent (NASDAQ:COHR) received a $332.00 price target from analysts at Barclays in a report issued on Wednesday. The firm presently has a “buy” rating on the scientific and technical instruments company’s stock. Barclays’ target price would indicate a potential upside of 11.72% from the company’s previous close.

Other research analysts have also issued reports about the stock. Stifel Nicolaus reissued a “buy” rating and issued a $290.00 target price on shares of Coherent in a report on Wednesday, September 13th. Zacks Investment Research raised shares of Coherent from a “hold” rating to a “strong-buy” rating and set a $270.00 target price for the company in a report on Tuesday, October 3rd. Benchmark reissued a “buy” rating and issued a $290.00 target price on shares of Coherent in a report on Thursday, October 12th. Needham & Company LLC raised their target price on shares of Coherent from $270.00 to $330.00 and gave the company a “buy” rating in a report on Wednesday, November 8th. Finally, Northcoast Research reissued a “buy” rating and issued a $314.00 target price (up from $311.00) on shares of Coherent in a report on Tuesday, September 12th. One equities research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $319.22.

Shares of Coherent (COHR) opened at $297.16 on Wednesday. The company has a current ratio of 3.13, a quick ratio of 2.14 and a debt-to-equity ratio of 0.51. Coherent has a fifty-two week low of $140.96 and a fifty-two week high of $320.73. The stock has a market cap of $7,380.00, a P/E ratio of 35.33 and a beta of 0.82.

Coherent (NASDAQ:COHR) last announced its quarterly earnings data on Tuesday, November 7th. The scientific and technical instruments company reported $3.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.48 by $0.24. Coherent had a net margin of 12.02% and a return on equity of 28.53%. The business had revenue of $490.00 million during the quarter, compared to analyst estimates of $475.24 million. During the same period last year, the firm posted $1.65 EPS. The company’s revenue was up 97.2% on a year-over-year basis. equities research analysts anticipate that Coherent will post 15.56 earnings per share for the current year.

In related news, VP Bret Dimarco sold 5,819 shares of the firm’s stock in a transaction on Thursday, November 9th. The stock was sold at an average price of $294.75, for a total value of $1,715,150.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Stephen A. Skaggs sold 500 shares of the firm’s stock in a transaction on Monday, November 13th. The stock was sold at an average price of $308.97, for a total value of $154,485.00. Following the completion of the sale, the director now owns 11,000 shares of the company’s stock, valued at $3,398,670. The disclosure for this sale can be found here. Over the last three months, insiders sold 19,788 shares of company stock valued at $5,901,628. 1.40% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Epoch Investment Partners Inc. lifted its position in Coherent by 3.6% in the third quarter. Epoch Investment Partners Inc. now owns 962,918 shares of the scientific and technical instruments company’s stock worth $226,449,000 after buying an additional 33,295 shares during the last quarter. Earnest Partners LLC lifted its position in Coherent by 1.0% in the third quarter. Earnest Partners LLC now owns 636,910 shares of the scientific and technical instruments company’s stock worth $149,782,000 after buying an additional 6,066 shares during the last quarter. FMR LLC lifted its position in Coherent by 23.2% in the second quarter. FMR LLC now owns 494,053 shares of the scientific and technical instruments company’s stock worth $111,157,000 after buying an additional 93,014 shares during the last quarter. NWQ Investment Management Company LLC lifted its position in Coherent by 10.9% in the third quarter. NWQ Investment Management Company LLC now owns 446,953 shares of the scientific and technical instruments company’s stock worth $105,110,000 after buying an additional 43,822 shares during the last quarter. Finally, Koch Industries Inc. bought a new stake in Coherent in the second quarter worth $354,000. Institutional investors own 96.90% of the company’s stock.

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Coherent Company Profile

Coherent, Inc is a photonics manufacturer. The Company is engaged in designing, manufacturing, servicing and marketing of lasers and related accessories for a range of scientific, commercial and industrial applications. It operates through two segments: Specialty Lasers and Systems (SLS) and Commercial Lasers and Components (CLC).

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