Coherent (NASDAQ:COHR) Upgraded to Strong-Buy at BidaskClub

Coherent (NASDAQ:COHR) was upgraded by BidaskClub from a “buy” rating to a “strong-buy” rating in a research note issued on Tuesday, BidAskClub reports.

Several other research firms have also recently issued reports on COHR. Benchmark restated a “buy” rating and set a $165.00 target price on shares of Coherent in a research note on Wednesday, July 31st. TheStreet cut shares of Coherent from a “b-” rating to a “c+” rating in a research note on Wednesday, August 14th. Zacks Investment Research cut shares of Coherent from a “hold” rating to a “strong sell” rating in a research note on Monday, August 5th. Finally, ValuEngine upgraded shares of Coherent from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, September 4th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, four have given a buy rating and two have given a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $148.00.

COHR traded down $3.94 during midday trading on Tuesday, hitting $165.80. 177,513 shares of the company traded hands, compared to its average volume of 355,304. The company has a quick ratio of 2.34, a current ratio of 3.97 and a debt-to-equity ratio of 0.31. The firm has a market capitalization of $3.98 billion, a PE ratio of 12.71 and a beta of 1.78. The company’s 50-day moving average is $144.48 and its 200 day moving average is $137.73. Coherent has a 52 week low of $90.10 and a 52 week high of $189.39.



Coherent (NASDAQ:COHR) last posted its earnings results on Tuesday, July 30th. The scientific and technical instruments company reported $1.33 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.05 by $0.28. The business had revenue of $339.17 million for the quarter, compared to analysts’ expectations of $348.61 million. Coherent had a net margin of 8.12% and a return on equity of 13.38%. The business’s revenue for the quarter was down 29.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.51 EPS. On average, sell-side analysts predict that Coherent will post 4.92 earnings per share for the current fiscal year.

Large investors have recently modified their holdings of the company. Steward Partners Investment Advisory LLC bought a new position in shares of Coherent in the 2nd quarter worth approximately $28,000. Synovus Financial Corp lifted its holdings in shares of Coherent by 400.0% during the first quarter. Synovus Financial Corp now owns 320 shares of the scientific and technical instruments company’s stock worth $45,000 after purchasing an additional 256 shares during the period. Cerebellum GP LLC acquired a new stake in shares of Coherent during the second quarter worth about $48,000. First Mercantile Trust Co. acquired a new stake in shares of Coherent during the first quarter worth about $64,000. Finally, Manchester Capital Management LLC acquired a new stake in shares of Coherent during the first quarter worth about $79,000. Hedge funds and other institutional investors own 99.40% of the company’s stock.

About Coherent

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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