Coherent, Inc. (NASDAQ:COHR) has been given an average rating of “Hold” by the thirteen brokerages that are currently covering the company, MarketBeat.com reports. Two analysts have rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating on the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $152.00.
Several brokerages have recently commented on COHR. Barclays decreased their price objective on Coherent from $218.00 to $170.00 and set a “buy” rating for the company in a report on Tuesday, October 23rd. Stifel Nicolaus set a $185.00 target price on Coherent and gave the company a “buy” rating in a research report on Tuesday, October 23rd. Northcoast Research reissued a “hold” rating on shares of Coherent in a research report on Wednesday, October 24th. Benchmark cut their target price on Coherent from $216.00 to $212.00 and set a “buy” rating on the stock in a research report on Wednesday, November 7th. Finally, Berenberg Bank initiated coverage on Coherent in a research report on Wednesday, November 14th. They issued a “buy” rating on the stock.
NASDAQ COHR traded down $0.52 during trading hours on Tuesday, hitting $127.54. 12,475 shares of the company were exchanged, compared to its average volume of 413,497. The company has a debt-to-equity ratio of 0.31, a current ratio of 3.26 and a quick ratio of 1.95. Coherent has a 52 week low of $90.10 and a 52 week high of $233.93. The stock has a market capitalization of $3.12 billion, a P/E ratio of 9.78 and a beta of 1.53.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. Amalgamated Bank grew its position in Coherent by 37.7% during the 4th quarter. Amalgamated Bank now owns 5,451 shares of the scientific and technical instruments company’s stock worth $576,000 after purchasing an additional 1,492 shares during the period. HRT Financial LLC acquired a new stake in Coherent during the 4th quarter worth about $228,000. Millennium Management LLC acquired a new stake in Coherent during the 4th quarter worth about $2,607,000. Macquarie Group Ltd. grew its position in Coherent by 59.4% during the 4th quarter. Macquarie Group Ltd. now owns 227,387 shares of the scientific and technical instruments company’s stock worth $24,037,000 after purchasing an additional 84,776 shares during the period. Finally, Legal & General Group Plc grew its position in Coherent by 2.2% during the 4th quarter. Legal & General Group Plc now owns 27,012 shares of the scientific and technical instruments company’s stock worth $2,855,000 after purchasing an additional 579 shares during the period. 96.43% of the stock is currently owned by institutional investors.
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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