Coherent (NASDAQ:COHR) Upgraded to Hold by BidaskClub

BidaskClub upgraded shares of Coherent (NASDAQ:COHR) from a sell rating to a hold rating in a research note published on Friday morning, BidAskClub reports.

Several other research firms also recently commented on COHR. Susquehanna Bancshares restated a hold rating on shares of Coherent in a report on Wednesday, November 27th. Zacks Investment Research downgraded Coherent from a hold rating to a strong sell rating in a report on Tuesday, November 26th. ValuEngine downgraded Coherent from a buy rating to a hold rating in a report on Monday, October 21st. Finally, Benchmark boosted their price objective on Coherent from $175.00 to $182.00 and gave the company a buy rating in a report on Wednesday, November 6th. One research analyst has rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the company. The company presently has a consensus rating of Hold and an average target price of $155.25.

Shares of NASDAQ COHR traded up $4.40 during midday trading on Friday, hitting $156.87. 248,405 shares of the stock traded hands, compared to its average volume of 186,431. The company has a market cap of $3.57 billion, a PE ratio of 32.08 and a beta of 1.79. Coherent has a one year low of $90.10 and a one year high of $173.92. The business has a 50 day moving average price of $152.78 and a two-hundred day moving average price of $143.50. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.71 and a current ratio of 4.56.

Coherent (NASDAQ:COHR) last released its quarterly earnings data on Tuesday, November 5th. The scientific and technical instruments company reported $0.89 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.96 by ($0.07). The firm had revenue of $335.50 million for the quarter, compared to the consensus estimate of $329.12 million. Coherent had a net margin of 3.76% and a return on equity of 8.95%. The company’s revenue was down 27.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.22 EPS. As a group, equities research analysts forecast that Coherent will post 3.3 EPS for the current fiscal year.

In related news, Director Stephen A. Skaggs sold 1,500 shares of Coherent stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $157.58, for a total transaction of $236,370.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 1.25% of the stock is owned by insiders.

Several large investors have recently made changes to their positions in COHR. Arizona State Retirement System boosted its position in Coherent by 0.5% in the second quarter. Arizona State Retirement System now owns 17,557 shares of the scientific and technical instruments company’s stock worth $2,394,000 after purchasing an additional 89 shares during the last quarter. California State Teachers Retirement System boosted its position in Coherent by 0.3% in the third quarter. California State Teachers Retirement System now owns 38,257 shares of the scientific and technical instruments company’s stock worth $5,881,000 after purchasing an additional 105 shares during the last quarter. Public Employees Retirement System of Ohio boosted its position in Coherent by 1.8% in the second quarter. Public Employees Retirement System of Ohio now owns 6,759 shares of the scientific and technical instruments company’s stock worth $922,000 after purchasing an additional 117 shares during the last quarter. BB&T Securities LLC boosted its position in Coherent by 5.9% in the second quarter. BB&T Securities LLC now owns 2,420 shares of the scientific and technical instruments company’s stock worth $330,000 after purchasing an additional 134 shares during the last quarter. Finally, MUFG Americas Holdings Corp purchased a new position in Coherent in the third quarter worth $25,000. 99.51% 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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