Coherent (COHR) Rating Lowered to Equal Weight at Barclays

Coherent (NASDAQ:COHR) was downgraded by equities researchers at Barclays from an “overweight” rating to an “equal weight” rating in a report issued on Thursday, The Fly reports.

Other analysts also recently issued reports about the stock. TheStreet downgraded shares of Coherent from a “b” rating to a “c+” rating in a report on Friday, October 19th. Northcoast Research reissued a “hold” rating on shares of Coherent in a report on Wednesday, October 24th. Stifel Nicolaus set a $185.00 price target on shares of Coherent and gave the stock a “buy” rating in a report on Tuesday, October 23rd. Vertical Group assumed coverage on shares of Coherent in a report on Tuesday, November 27th. They set a “buy” rating on the stock. Finally, BidaskClub downgraded shares of Coherent from a “hold” rating to a “sell” rating in a report on Tuesday, December 11th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and five have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $189.29.

NASDAQ:COHR opened at $116.76 on Thursday. The firm has a market capitalization of $2.79 billion, a PE ratio of 8.95 and a beta of 1.57. Coherent has a 1-year low of $90.10 and a 1-year high of $329.00. The company has a current ratio of 3.32, a quick ratio of 2.02 and a debt-to-equity ratio of 0.32.

Coherent (NASDAQ:COHR) last released its quarterly earnings data on Tuesday, November 6th. The scientific and technical instruments company reported $3.22 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.96 by $0.26. The firm had revenue of $461.50 million for the quarter, compared to analyst estimates of $460.60 million. Coherent had a net margin of 13.00% and a return on equity of 25.89%. The business’s quarterly revenue was down 5.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.72 earnings per share. Research analysts predict that Coherent will post 10.37 EPS for the current fiscal year.

In other news, Director Pamela Fletcher sold 458 shares of the stock in a transaction dated Friday, November 9th. The shares were sold at an average price of $132.75, for a total value of $60,799.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.97% of the stock is owned by corporate insiders.

Several hedge funds and other institutional investors have recently modified their holdings of COHR. Focused Wealth Management Inc acquired a new stake in Coherent during the third quarter worth about $115,000. Chicago Partners Investment Group LLC increased its position in Coherent by 814.4% during the second quarter. Chicago Partners Investment Group LLC now owns 1,143 shares of the scientific and technical instruments company’s stock worth $179,000 after purchasing an additional 1,018 shares during the last quarter. Meristem Family Wealth LLC acquired a new stake in Coherent during the third quarter worth about $201,000. Piedmont Investment Advisors Inc. increased its position in Coherent by 41,833.3% during the third quarter. Piedmont Investment Advisors Inc. now owns 1,258 shares of the scientific and technical instruments company’s stock worth $217,000 after purchasing an additional 1,255 shares during the last quarter. Finally, D.A. Davidson & CO. acquired a new stake in Coherent during the third quarter worth about $243,000. Institutional investors and hedge funds own 96.43% 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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